GM Hits Record EV Sales in August Ahead of Tax Credit Expiration

U.S. electric vehicle sales are likely to have set an all-time monthly record in August as customers rushed to buy ahead of the expiration of federal EV tax credits. General Motors reported sales of more than 21,000 EVs across its Chevrolet, Cadillac, and GMC brands, making it the second-largest EV seller in the country.

The company said demand was driven by models such as the Chevrolet Equinox EV, Cadillac LYRIQ, and GMC Sierra EV. August marked GM’s best-ever month for EV sales, and executives expect that momentum to support long-term gains, citing the brand’s strong manufacturer loyalty and customers’ commitment to EV technology.

GM is forecasting continued demand through September, though a decline is expected in the following quarter as federal credits expire on September 30. Executives noted that it may take several months for the market to stabilize, and the overall size of the EV market could shrink in the short term. Despite that, GM believes it can continue to grow its EV market share without overproducing.

The automaker pointed to its diverse portfolio as a source of confidence. The company covers both the affordable and luxury ends of the EV spectrum with models such as the Chevrolet Equinox EV, Cadillac LYRIQ, and the upcoming Chevrolet Bolt, alongside high-performance pickups and SUVs including the Chevrolet Silverado EV, GMC Sierra EV, and GMC Hummer EV.

Industry observers say GM is benefiting as some competitors scale back their EV product plans, reducing overproduction and deep discounting that had disrupted the market in recent months.

Charging infrastructure is also expanding rapidly. GM Energy, along with EVgo, IONNA and other partners, is working to make long-distance EV use more practical. By the end of 2025, GM expects customers to have access to more than 65,000 public fast-charging bays across the U.S., with that number projected to reach 80,000 by the end of next year and 100,000 by 2027 — a 50% increase in three years.

At the same time, GM continues to rely on its internal combustion engine (ICE) portfolio to provide profitability and flexibility that EV-only manufacturers lack. The company is set to release full third-quarter sales figures on October 1, but it said it remains on track to maintain leadership in full-size pickups and SUVs while also seeing strong growth in other SUV segments.

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