General Motors Company (NYSE:GM) closed 2025 with mixed results, as US fourth-quarter deliveries fell amid a steep drop in electric vehicle (EV) demand, even as the automaker posted industry-leading full-year sales.
US deliveries in Q4 declined about 7% year-on-year to 703,001 vehicles, with EV sales hit hardest. GM delivered 25,219 EVs, down 43% after federal tax credits for new EV purchases expired in September. Newer EV models faced sharp declines: Equinox EV sales fell 72%, while Blazer EV dropped 77%, underscoring near-term challenges for mass-market EV adoption.
In response, GM is refocusing on affordability. The next-generation Bolt EV, set to launch in Q1 2026 with a starting price of $29,990, aims to attract budget-conscious buyers. The original Bolt had been one of GM’s best-selling EVs until its discontinuation in late 2023.
The automaker has already scaled back its EV ambitions, taking a $1.6 billion charge in October related to reduced EV capacity, with further write-downs expected. “We continue managing our EV business to protect our brands and products. Our EV incentives remain approximately half the industry average,” GM said in a statement.
Despite the quarterly dip, GM ended 2025 on a high note. Full-year US sales rose 6%, with growth across all four brands. GM led America’s full-size pickup market for the sixth straight year, with Chevrolet Silverado and GMC Sierra posting their best combined sales in 20 years, and held the top spot in full-size SUVs for the 51st consecutive year. GM was also the industry’s number two EV seller in 2025.
Highlights included record sales for GMC, a decade-high for Cadillac, best-ever results for Chevrolet SUVs, and Buick emerging as one of the fastest-growing mainstream brands. Nearly 700,000 Chevrolet and Buick vehicles were sold under $30,000, while GM Envolve fleet and commercial sales rose 8%.
“Demand for our brands and products is strong at every price point, and we are well-positioned to build on this momentum in the year ahead,” said Duncan Aldred, GM senior VP and president of North America.
Shares rose 2.8% Monday, up 55% over the past year.