General Motors (GM) matched its rival Ford with robust US third quarter sales, with both gas-powered and electric vehicles driving the gains.
The largest big three automaker by volume said Q3 sales hit 710,347, an 8% jump compared to a year ago. GM said it was number one in overall sales in the US, and snagged its best market share since 2017.
GM said gas powered vehicles like its pickup trucks like the Chevrolet Silverado and full-size SUVs like the GMC Yukon drove the gains, with both categories poised to lead in the industry by the end of the year.
Not surprisingly, GM’s EV sales surged in Q3 ahead of the expiration of the federal EV tax credit.
GM set an EV sales record of 66,501 units sold, more than double Ford’s EV total. GM’s year-to-date total EV sales in the US now stand at 144,668, up 105% from a year earlier. GM boasted that the Chevrolet Equinox EV was the best-selling non-Tesla EV in the US in Q3, and Cadillac had three of the 10 best-selling EVs in the luxury segment year to date.
Like Ford, GM is also reportedly working on preserving the federal EV tax credit for leased vehicles by having its finance arm sign deals for preexisting inventory and passing the savings on to buyers.
Of note is GM’s lack of hybrid vehicles, an area in which rival Ford shined with a record 55,000 units sold.
Elsewhere in GM’s portfolio, crossovers also hit a Q3 record with the GMC Terrain, Chevrolet Equinox, Chevrolet Traverse, and Buick Envista all having their best Q3 sales ever.
“We have the best lineup of ICE and EV vehicles we’ve ever had, and our brands have grown market share with consistently strong pricing, low incentives and inventory,” GM SVP and president of North America Duncan Aldred said in a statement.
GM noted that its use of incentives was lower than the industry average and that its inventory was on track to meet year end goals, suggesting its products were popular with consumers.
Unlike Ford, GM builds more vehicles outside the US, meaning it is subject to 25% auto sector tariffs for those imports.
GM will have more to say on tariffs, its product portfolio, and its financial outlook when it reports full Q3 results on October 21.
Pras Subramanian is the lead autos reporter for Yahoo Finance. You can follow him on X and on Instagram.
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