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

Front 7/8 view of 2025 Chevrolet Equinox EV 3LT in Riptide Blue parked in front of a home. Preproduction model shown. Actual production model may vary. (image courtesy GM)
Front 7/8 view of 2025 Chevrolet Equinox EV 3LT in Riptide Blue parked in front of a home. Preproduction model shown. Actual production model may vary. (image courtesy GM)
Front 7/8 view of 2025 Chevrolet Equinox EV 3LT in Riptide Blue parked in front of a home. Preproduction model shown. Actual production model may vary. (image courtesy GM)
Front 7/8 view of 2025 Chevrolet Equinox EV 3LT in Riptide Blue parked in front of a home. Preproduction model shown. Actual production model may vary. (image courtesy GM)

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.

If you enjoyed this article, be sure to follow us on Microsoft Start.

Leave a Comment

More in News

Aston Martin to develop new Residences with Valor Real Estate Development

Aston Martin today announces a new landmark real estate partnership ...

Triple anniversary: Bentley celebrates three seminal sedans [Photo Gallery]

2025 sees three significant anniversaries in Bentley’s history, each now ...

Audi renews multi-year deal as Major League Soccer’s Official Automotive Partner

Audi of America and Major League Soccer (MLS) today announced ...

Maserati MCPURA brings the pure essence of Italian performance on the roads of Versilia

The exclusive Driving Experience dedicated to the new Maserati MCPURA ...

Trending on Motoring Chronicle

Aston Martin Vanquish Volante: the world’s fastest, most powerful front-engine convertible [Photo Gallery]

Aston Martin has today announced the highly anticipated arrival of ...

A Lamborghini gateway to Courchevel [Photo Gallery]

Automobili Lamborghini returned to one of the world’s largest linked ...

Revuelto Opera Unica sculpted by Sardinian seascapes: 475 hours of hand-painting craftmanship

Lamborghini presents an Opera Unica: a sole Revuelto[1] created by the ...

The hunt for ‘Coal Scuttle’ – the first Aston Martin

The search is on for a priceless piece of British ...

Polestar and GeoGuessr launch tailored version of hit game, playable now in all Polestar models

Polestar, the Swedish electric performance brand, has launched its own ...