Document EV gross sales lead GM, Ford to eight% will increase in Q3 U.S. auto gross sales

DETROIT – Sturdy electrical car gross sales are resulting in sturdy third-quarter outcomes for main automakers, as customers flocked to automotive dealerships earlier than the top of $7,500 in federal incentives for EVs.

Ford Motor, Common Motors and Hyundai all reported document quarterly gross sales of all-electric automobiles from July via September.

Each GM and Ford stated third-quarter gross sales total elevated roughly 8% from a yr earlier, with EV gross sales greater than doubling for GM. Ford stated gross sales of its EVs elevated by 30% in contrast with the third quarter of 2024.

Hyundai reported its namesake model recorded a 13% year-over-year gross sales improve in the course of the third quarter, additionally led by doubling gross sales of all-electric automobiles.

Japan’s largest carmakers that do not provide many EVs reported various outcomes for the quarter. Toyota Motor — the world’s largest automaker — stated its quarterly gross sales elevated 16%, whereas Honda Motor’s gross sales fell 2% from a yr earlier. Nissan Motor reported a rise of 5.3%.

GM stated it remained the highest automaker in U.S. gross sales via the third quarter of this yr, with the Detroit firm estimating a market share of 17.2% – its highest place since 2015.

“Nobody is in a stronger place for a altering U.S. market than GM. We’ve one of the best lineup of ICE and EV automobiles we have ever had, and our manufacturers have grown market share with constantly sturdy pricing, low incentives and stock,” GM North American President Duncan Aldred stated in a launch.

GM on Wednesday estimated the industrywide gross sales tempo for the third quarter was 16.7 million to 16.9 million models — larger than some earlier trade estimates, led by good points in EVs.

U.S. EV gross sales in the course of the third quarter are anticipated to be a document, as consumers pulled forward plans to buy a brand new zero-emissions car forward federal EV incentives of as much as $7,500 ending in September.

Ford CEO Jim Farley on Tuesday stated he “would not be shocked” if gross sales of EVs fell from an trade market share of round 10% to 12% this month — which is predicted to be a document — to five% after the motivation program ends.

Cox Automotive forecasts gross sales of EVs hit 410,000 in the course of the third quarter, up 21% from a yr earlier. That may simply be the very best quantity of EVs ever offered in 1 / 4 within the U.S., in addition to a document 10% market share.

Gross sales of EVs in addition to plug-in hybrid electrical automobiles that additionally certified for federal incentives are anticipated to help in boosting third-quarter car gross sales up between 4% and seven%, in keeping with forecasts from Cox and CarMax’s Edmunds.

Some automakers try to maintain their EV gross sales momentum going after the top of the tax credit score. The incentives expired as a part of the Trump administration’s “One Huge Lovely Invoice Act,” which stripped the outdated enticement however included some perks for getting a U.S.-assembled car, no matter it being an EV.

Hyundai on Wednesday stated it’s decreasing pricing for its 2026 Ioniq 5 EV by as much as $9,800 and providing a $7,500 money incentive on 2025 fashions, matching the federal credit.

“We’re very bullish in relation to EV gross sales within the market,” stated Randy Parker, CEO of Hyundai Motor America, including the model is evaluating pricing on different fashions as properly. “There’s going to be slightly little bit of a reset in October, most likely even November, however the EV market will settle, and at that time, we view this as a chance. … We’re not backing off.”

GM and Ford additionally basically prolonged the usage of a $7,500 U.S. tax credit score on leases of electrical automobiles, Reuters reported Monday, by rolling out packages to their retailers beneath which the automakers’ financing arm would provoke the acquisition of EVs in sellers’ stock by making down funds on them.