Could GM rival Tesla in EV sales by 2026? These electric vehicles are the ones to watch
Could GM rival Tesla in EV sales by 2026? These electric vehicles are the ones to watch Is General Motors the new top dog in the EV space?
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Trump grants one-month tariff exemption for major automakers
President Donald Trump granted a one-month tariff exemption to any autos coming from Mexico and Canada for Ford, General Motors, and Stellantis.
General Motors electric vehicle sales show tremendous year-over-year growth.
The Chevrolet Equinox (from GM's Chevy brand) is the company's best-selling EV in 2025.
GM could rival Tesla in 2026 based on sales growth and attractive offerings.
General Motors is one of the Big Three American automakers alongside Stellantis (formerly Chrysler) and Ford. Like Ford, GM has made incredible headway in the EV space, rolling out competitive electric vehicles across its portfolio of brands. Some of its nameplates are giving the company the potential to overthrow Tesla as the dominant EV sales leader.
Affordability, brand recognition, and Tesla's recent fall from grace are all contributing factors in GM's sudden EV sales boom. Does the automaker have what it takes to dethrone a brand that has become synonymous with electric vehicles in America?
General Motors EV sales up 183% year-over-year
GMC electric vehicle sales increased by a whopping 183% from Q1 2024 to Q1 2025 according to Cox Automotive, an automotive research company. The American automaker sold 4,728 EVs, up from 1,668 EVs in the first quarter of 2024. Its Chevrolet brand sold 19,186 electric vehicles, an 114% increase from 8,957 in the first quarter of 2024.
Cadillac, GM's luxury division, saw electric vehicle sales increase by over 37% from 5,800 to 7,972 year-over-year. On paper, General Motors is gaining serious traction in its mission to become a competitor in the EV space. A closer look at some of its most popular offerings across its portfolio of brands shows just how easy it could be for the company to overtake Tesla in the future.
Best-selling General Motors electric vehicles (across portfolio) for Q1 2025
Chevrolet Equinox EV (10,329 units)
Chevrolet Blazer EV (6,187 units)
Cadillac Lyriq (4,300 units)
GMC Hummer Truck/SUV (3,479 units)
The Chevrolet Equinox EV leads the charge for GM EVs
General Motors currently offers 10 electric vehicles across its GMC, Chevrolet, and Cadillac brands. Of the 10 EVs, the Chevrolet Equinox EV is its best-selling model by thousands of units. Chevrolet has sold 10,329 Equinox EV models in Q1 2025. Its pricing and specs explain why the electric family SUV is becoming so popular among drivers.
The 2025 Chevrolet Equinox EV LT 1 front-wheel drive starts at $34,995. According to Chevy, it's eligible for the federal electric vehicle tax credit of $7,500, bringing its true cost closer to $27,495. The Equinox EV is currently the most affordable electric SUV in its segment (factoring in the tax incentive).
Chevy's EV has an estimated 319 miles of driving range. It also comes with plenty of advanced standard features despite its low starting price.
2025 Chevrolet Equinox EV standard features
A 17.7-inch diagonal advanced color LCD display
Adaptive cruise control
Automatic emergency braking
Natural voice recognition
Rear park assist
The Equinox EV comes in three trims: the LT 1, LT 2 ($41,900), and RS ($43,400) final configuration. Chevy offers all-wheel drive on every trim for an additional cost. Each trim is more affordable than the average new vehicle cost (nearly $50K according to CNBC). The federal EV tax incentive makes these options even more attractive for drivers looking to save money on a new electric vehicle.
Why General Motors could beat Tesla in the long run
GM's explosive year-over-year EV sales growth could be a sign of things to come as the company's electric vehicles gain popularity and market share. GM EVs may not beat Tesla EVs when it comes to a direct side-by-side comparison in the performance category, but the company has a competitive edge in terms of pricing.
Tesla's current most affordable electric vehicle is the Model 3 sedan which starts at $42,490 ($34,990 post-tax incentive). In comparison, GM's most affordable EV across its portfolio, the larger Equinox EV, is more affordable than Tesla's sedan by $7,495. While both models are below the average new vehicle price, the Equinox EV offers more value for American families in terms of cabin and cargo space as a larger model.
Another factor in the sales battle between GM's brands and Tesla is the damage that Tesla has sustained since January. The company's share price nosedived by over 41% from January 2 to April 8. Additionally, Americans have protested Tesla and its CEO due to Elon Musk's former role as senior advisor to the president.
Tesla stock is down 15% from January 2 at the time of writing, but the brand has suffered damage that's wreaking havoc on global sales. The recent sales plunge is the biggest decline in history, according to CNN. So, General Motors and its portfolio of brands could have a better shot at besting Tesla in electric vehicle sales in 2026.
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