GM cuts U.S. sales by 5.5% in third quarter — CNBC

General Motors sold 670,974 new vehicles in the United States in the third quarter, 5.5% fewer than in the same period last year. CNBC reports.

Electric vehicle sales

Sales of all GM electric vehicles declined. CNBC notes that interest in electric vehicles is weakening. At the same time, demand for them increased last year ahead of the Trump administration’s ending of federal incentives of up to $7,500 for EV buyers.

More current news is available on the UA.News Telegram channel Telegram.

Hybrid market and fuel prices

According to Cox Automotive, new vehicle sales this year have been higher than expected. Last week, the company raised its 2026 forecast by about 2% to 16.1 million vehicles.

The share of hybrid vehicles in the market is expected to grow because of high gasoline prices. Despite its broad range of electric vehicle models, GM offers only one hybrid vehicle — the Corvette. Analysts believe the automaker’s weaker position in this segment could affect overall sales and create an opportunity for hybrid-segment leader Toyota Motor to catch up with GM. The average gasoline price in the United States was $4.41 per gallon, according to AAA, which is also expected to affect sales of the large pickups and SUVs on which GM depends.