GM’s EV sales fell about 40% year-over-year in Q2.
- GM sold 27,395 EVs in the three months through the end of June, as sales of its best-selling Equinox EV fell by a steep 62%.
- Despite a drop in EV sales, GM’s estimated share of the U.S. EV market grew to 13.5%-14%, up around one percentage point year-over-year, the company said.
- Demand for GM trucks and SUVs stayed resilient in the quarter, the company added.
Shares of General Motors (GM) slipped by about 1% on Wednesday after the company reported U.S. vehicle deliveries of 714,896 units in the second quarter of 2026, down 4.2% from 746,588 units a year ago, owing to a steep dive in electric vehicle sales and other discontinued vehicles.
GM stock is now on track to clock its fifth consecutive session of closing in the red.
GM’s EV Sales
GM sold 27,395 EVs in the three months through the end of June, marking a drop of about 40%, as sales of its best-selling Equinox EV fell by a steep 62%.
Despite a drop in EV sales, GM’s estimated share of the U.S. EV market grew to 13.5%-14%, up roughly one percentage point year-over-year, the company said, hinting at an overall contraction in EV demand in the region.
Trucks And SUVs Remain Best-Sellers
Strong demand for full-size pickups and SUVs continued to drive GM’s performance. Chevrolet Silverado deliveries increased 6.9% to 62,977 units in Q2. GM said its full-size pickup segment share grew to approximately 42% and that it remained on track to lead the segment for a seventh straight year.
Chevrolet continued to be the company’s best-selling brand in the quarter, though total sales fell 3.9%, followed by GMC.
GM also posted its best Q2 fleet sales since 2019, up 16%, supported by strong commercial and government truck demand.
“Customer demand is resilient, especially for our trucks and SUVs,” said Duncan Aldred, President of GM North America. “The depth and breadth of our vehicle portfolio allows us to lead the market in sales while maintaining discipline on inventory, pricing and incentives.”
GM’s EV Pullback
In January 2026, General Motors announced a $6-billion charge to reduce its electric vehicle production capacity and unwind related investments, following a $1.6 billion charge in the third quarter of 2025. The move came after the elimination of federal EV tax credits and weaker consumer demand, prompting GM to pivot plants such as Orion, Michigan, from EV assembly to gasoline-powered full-size trucks and SUVs.
GM then said it will continue selling its current EV models, and CEO Mary Barra described the shift as a pragmatic adjustment while still viewing battery-electric vehicles as the long-term “end game.”
How Did GM Retail Traders React?
On Stocktwits, retail sentiment around GM jumped from ‘neutral’ to ‘bullish’ over the past 24 hours, while message volume remained at ‘normal’ levels.
GM stock has fallen by about 6% year-to-date.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<