GM (GM) reported third quarter US sales of 670,974 vehicles, a drop of 5.5% compared to a year ago, as a collapse in EV sales offset gains from its pickups and small SUVs.
Despite this, GM North America president Duncan Aldred said, “Our business is performing very well” and that the launch of its next-generation full-size pickups “is on track,” with the first trucks scheduled to hit showrooms by the end of the year.
EV sales continued a steep decline. Based on GM’s model-by-model figures, EV sales fell about 62% to roughly 25.5K units, shrinking to under 4% of GM’s US volume from more than 9% a year ago. Excluding EVs, GM’s sales were essentially flat, up 0.3%.
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Sales of the Chevrolet Equinox EV plunged 92.4% to 1,905, the Blazer EV dropped 84.4%, the GMC Hummer EV slid 72.9%, and the Cadillac Lyriq fell 50.5%.
A big reason for the EV slide was that last year’s comp was a big one, as EV sales were inflated by buyers rushing to claim the federal EV tax credit before it expired at the end of September 2025.
GM’s gas-powered trucks helped deflect EV losses. Light-duty pickup sales rose 9.3%, led by a 13.3% jump in the Chevrolet Silverado light-duty to 100,221, while the GMC Sierra light-duty gained 2.9%. Heavy-duty models were softer, with the Silverado HD down 10.1% and the Sierra HD off 6.9%. GM said it is on track to lead the full-size pickup segment for a seventh straight year.
Small SUV sales were also strong. The Chevrolet Trailblazer surged 51.1% to 31,075, the Trax rose 16.3% to 57,917, and the Buick Envista climbed 18.4% in its best quarter ever. The GMC Canyon midsize pickup gained 17.9%.
Full-size SUVs were mixed, with the GMC Yukon up 8%, the Tahoe down 2.6%, and the Suburban off 11.1%. GM said it is still on pace to lead the segment for a 52nd straight year.
Photo by: NDZ/STAR MAX/IPx 2026 4/1/26 A 2026 Chevrolet Silverado 2500 HD LTZ on display at the New York International Auto Show at the Javits Convention Center in New York on April 1, 2026. · NDZ/STAR MAX/IPx
GM closed the quarter with 568,151 vehicles in dealer inventory, up from about 511,000 at the end of the second quarter. It said it is on track to end the year with 50 to 60 days’ supply, and that incentives have stayed below the industry average for more than three years.
The next-gen pickups will also bring new V8s. GM detailed last week that the 2027 Silverado and Sierra 1500 will offer two all-new Gen-6 Small Block V8s — a 5.7-liter and a 6.6-liter. Heavy-duty versions get a new 8.3-liter Duramax turbo-diesel V8 with 555 horsepower and 1,230 lb-ft of torque, built at GM’s DMAX facility in Brookville, Ohio, following a $920 million expansion.
Investors will hear how the truck changeover and EV slump are hitting the bottom line when GM reports third quarter earnings on October 20th.
Pras Subramanian is Lead Auto Reporter for Yahoo Finance. You can follow him on X and on Instagram.
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