General Motors GM sold 32,095 electric vehicles in the third quarter in the U.S., marking a jump of about 46% from the prior quarter, thanks to the introduction of new electric models.

What Happened: GM sold 32,095 EVs in the three months through the end of September, with the Chevrolet Equinox EV accounting for a majority of the deliveries.

GM started deliveries of the Equinox EV in May 2024. In the second quarter, the company delivered only 1,013 units of the vehicle. However, in the third quarter, delivery numbers rose to 9,772 units.

The SUV’s entry-level variant starts at about $35,000, lower than Tesla’s Model Y SUV or Ford’s Mustang Mach-E.

Other best-selling EVs in the quarter include the Cadillac Lyriq and the Blazer EV. The company also sold 387 units of the Sierra EV electric pickup truck after it commenced deliveries in August.

Bolt EV sales in the quarter, however, dropped by about 99% in the quarter after the company discontinued its production in late 2023.

Why It Matters: GM currently has the longest EV lineup among major U.S. EV players including EV giant Tesla.

Tesla’s current lineup has just five vehicles- Model 3, Model Y, Model S, Model X, and the Cybertruck.

Dearborn-based Ford Motor Co, meanwhile, has only three EV offerings in the U.S.- the Mustang Mach-E SUV, the F-150 Lightning pickup truck, and the E-transit van.

GM’s total vehicle deliveries in the quarter, however, dropped 2.2% to 659,601 units, owing to a drop in deliveries of gas-powered vehicles including the Buick Enclave and Chevrolet Silverado HD.

Price Action: GM shares closed up 0.1% at $44.88 on Tuesday. The stock is up 24.5% year-to-date, according to data from Benzinga Pro.

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Photo courtesy: Chevrolet