General Motors Q3 Sales Drop But Outperforms Industry Forecasts. EV Sales Surge 60%

General Motors reported declining third-quarter sales but slightly outperformed industry forecasts. GM’s EV sales surged by 60% year-over-year, though EVs made up just under 5% of total sales, led by the Cadillac Lyriq. Small crossovers like the Chevrolet Trax also saw strong demand. GM’s total 2024 sales through the third quarter are down 1% year-over-year. Industrywide, third-quarter sales are projected to fall 2% compared to last year.