Tesla’s reign at risk as GM charges ahead with 300,000 EV milestone

2 weeks ago 4

General Motors has officially cemented themselves in the number two spot with more than 300,000 EVs sold in the United States since 2016. In North America, GM has sold over 370,000 electric models. As Tesla’s sales seem to be stagnating, the time is ripe for General Motors to push forward with more all-electric offerings in order to expand their customer base.

The American automaker officially beat out Hyundai for the second-place spot. Hyundai offers just three electrified models, with a fourth coming to the North American market for the 2025 model. With a desire to keep its momentum, GM is also adding new electric vehicles to its roster for the upcoming model year as well.

General Motors is the behind Tesla in EV sales

Tesla entered the EV segment with virtually no true competition. While the Nissan Leaf existed, it was no match for Tesla’s superior range and performance. In 2008, the Tesla Roadster achieved a 245-mile range, putting it over 100 miles ahead of the 2008 Nissan Leaf.

General Motors didn’t truly enter the electrified fray until eight years later. In 2016, the long-standing American automaker struck a chord with the Chevrolet Bolt. For the next five years, GM’s EV sales gradually increased

In 2021, there was the beginning of a significant uptick, a trend that has continued for the past three years. Notably, GM faces more competition and has half of Tesla’s time in the EV market, so expecting the automaker to surpass Tesla in the next few years isn't a safe bet by any means.

Despite the fact that GM is currently in second place behind Tesla, the two American automakers do have one thing in common. All GM vehicles can use the Tesla Supercharger network that allows for fast-charging capability. Whether that holds more benefit for GM or Tesla is up in the air, but it's a plus for consumers either way.

GM has eight electric vehicles on its roster

Currently, General Motors currently has more than eight EVs spread across three brands. These models include popular EVs like the Chevrolet Blazer EV and Silverado EV, the latter of which has an unmatched 492-mile range.

GM is adding new models with each passing year, an absolute necessity if the automaker wants to meet its ambitious goals. Cadillac, for example, will be an EV label by 2030. With just over five years left on the clock, GM is well on its way to making that goal a reality.

General Motors is well-placed to become a segment leader

Tesla is the top dog in the United States, but the EV automaker had a pretty significant head start and faced little competition. General Motors entered the segment with true ambition for the first time in 2016, putting them in the competition for just two years shy of a decade.

The fact that GM’s EV sales continue to grow while Tesla’s is slowing down is good news for the veteran automaker. There’s a long road ahead before GM catches and surpasses Tesla’s total sales, though. In 2023 alone, Tesla sold more than 654,000 vehicles in the United States. Since 2016, GM has sold less than half that amount.

Despite that, consistent sales growth is crucial to taking more market share. By introducing new models while Tesla maintains its current roster, the most recent of which is the rather controversial Cybertruck, GM can open new doors with different demographics.

Final thoughts

The fact that GM’s EV sales continue to grow while Tesla’s is slowing down is good news for the veteran automaker. With the addition of new models, GM is poised to keep its momentum going. Even so, every automaker is working on their EV offerings, so only time will tell if GM can hang on to its runner-up position.

Read Entire Article