GENERAL MOTORS SOLD A RECORD NUMBER OF EVS IN Q2 2024

After a long and painful road, GM's grand Ultium plan is finally paying off.

When General Motors projected record EV sales despite dropping the sales-leading Chevy Bolt from its lineup, I was doubtful. But in the second quarter, GM delivered. More specifically, it delivered a record number of EVs. EV sales were up 40% year-over-year, and 34% over last quarter. And the General's just getting started.

What should be the company's highest-volume EV, the Equinox EV, just launched a month ago. More affordable versions are set to arrive later this year, with one that could cost less than $30,000 after tax credits. If GM can deliver a 300-mile-range electric crossover at that price, it should add even more momentum to GM's Ultium push. By the end of the year, GM says it'll have 10 electric nameplates on sale. We expect those to be:

If GM doesn't count the Hummer Truck and SUV as separate products, there may be another mystery product in there. But either way, the company's lineup of EVs was basically nowhere this time last year, sustained by the ultra-low volume GMC Hummer, troubled early versions of the Lyriq and the soon-to-be-dead Bolt. By the end of this year, the company will have solid options in most of the most important categories, with a few flagships to carry the torch.

This news also dispels the "no one wants EVs" narrative, as EV sales are once again growing while internal-combustion sales stagnate. Overall GM sales grew 0.6 percent, a minuscule figure compared to EV sales. And since that number includes EV sales, the figure for ICE-only sales is even more underwhelming. If GM can continue launching Ultium-platform vehicles without the software issues that plagued early Lyriqs and Blazers, the General may be poised to be the best-positioned legacy automaker in the EV marketplace.