GM cutting 2027 Chevrolet Bolt production by 75 percent

General Motors reported a significant decline in U.S. EV sales in Q3, with Cadillac, Chevrolet, and GMC brands all seeing drops. Cadillac's total sales fell 30% to 32,650. Chevrolet's sales declined 4.6% to 437,321, with the Equinox EV down 92.4%. GMC's Hummer EV sales dropped 72.9%. Overall, GM's Q3 sales fell 5.5% to 670,974, and year-to-date sales are down 6.4%.

GM's U.S. EV sales dropped 61.7% YoY in Q3 2026 to 25,473 units, accounting for 3.8% of total sales. Overall sales fell 5.5%, with GM citing a smaller EV market. Cadillac's EVs performed relatively better, while models like Equinox EV saw steep declines. Ford also reported an 80% YoY EV sales drop.

Tesla delivered 486,532 vehicles in Q3, beating estimates but down 2.1% YoY. BYD sold 762,478 BEVs, widening its lead. Rivian delivered 19,248 vehicles, topping expectations. Ford and GM saw steep EV sales declines. Retail sentiment remains bullish on TSLA, RIVN, F, and GM.

Twenty-six states, led by California, sued the Trump administration over its rollback of fuel economy standards to 34.9 mpg by 2031, down from 50.4 mpg set under Biden. The lawsuit alleges the change ignores existing electric vehicles and weakens standards. The Transportation Department claims the change could save $138bn over five years. Automakers welcomed the rollback, while environmental groups filed a separate lawsuit.

U.S. auto sales declined 1% YoY in Q3 2026, with Ford, GM, and Stellantis lagging behind foreign rivals like Toyota, Honda, and Hyundai. Foreign brands gained market share due to stronger hybrid offerings. GM led U.S. sales (670,000 units) but saw a 5.5% decline. Toyota grew 0.7% (633,000 units), with hybrids accounting for over half of its sales. Analysts predict slower sales ahead but no sharp decline, with wealthier buyers supporting the market.

Stellantis (STLA) shares fell 7% to $4.37 after reporting flat U.S. sales, with Jeep down 20% offsetting Ram's 29% gain. Ford (F) dropped 2% to $12.02, and GM (GM) slipped 0.8% to $78.69. Stellantis also announced temporary production pauses at four French plants due to EV battery shortages.