General Motors reported a 4.2% decline in second-quarter U.S. vehicle sales, totaling 714,896 units. The results slightly exceeded analyst expectations of a 5.1% decrease. Management cited a smaller EV market, model discontinuations, and inventory constraints for the decline.
Electric vehicle sales plummeted 40.7% compared to the same period last year. Demand for the Chevrolet Equinox EV and Blazer EV fell by more than 60%. EVs represented 3.8% of total quarterly sales, down from 6.2% a year ago.
GMC Sierra sales reached a second-quarter record amid strong truck and SUV performance. General Motors maintained its position as the top-selling automaker in the U.S. for the quarter. The company noted resilient demand for internal combustion engine trucks and SUVs.