2 sources·Started 27d ago·Updated 27d ago

GM reports 4.2% Q2 sales decline amid falling EV demand, Toyota closes gap

General MotorsToyotaChevroletCox AutomotiveDuncan AldredMary BarraStellantisFord

Sources

2outlets

CNTN

Coverage

2articles

General Motors reported a 4.2% decline in second-quarter U.S. sales, selling 714,896 vehicles from April through June, down from 746,588 a year earlier. The drop was driven by falling demand for all-electric vehicles and Chevrolet Silverado pickup trucks Source: CNBC. First-half sales totaled roughly 1.3 million units, down 6.8% year over year, slightly better than Cox Automotive's forecast of a 7.2% decline Source: The Next Web.

Key figures

GM's Q2 sales: 714,896 units, down 4.2% (CNBC) or just over 4% (The Next Web).
EV sales continued to slide: Blazer EV dropped 83% in Q1, Silverado EV fell 41%, and the trend persisted into Q2 Source: The Next Web.
GM took roughly $8 billion in EV-related charges in 2025, including writedowns from cancelled battery contracts and scrapped next-gen electric truck development Source: The Next Web.

Competitive pressure

Toyota is closing the gap to become America's top-selling automaker. Cox Automotive projected Toyota would narrow the gap to fewer than 100,000 vehicles through the first half, the closest since Toyota briefly led in 2021. Toyota's hybrid lineup grew about 10%, while industry-wide EV sales fell over 23% Source: The Next Web. GM's only hybrid is the Corvette E-Ray, leaving it exposed as competitors like Toyota, Honda, and Hyundai leaned into hybrids Source: The Next Web.

Sources

4 quotes

CNBC↗

“General Motors' second-quarter U.S. sales fell 4.2% as year-over-year demand for its all-electric vehicles and Chevrolet Silverado pickup trucks declined.”

The Next Web↗

“GM sold 714,896 vehicles in Q2, down four percent from a year ago, as EV demand declined and Toyota continued closing the gap.”

The Next Web↗

“Cox Automotive projected last week that Toyota would narrow the gap to fewer than 100,000 vehicles through the first half, the closest the two companies have been since Toyota briefly took the crown in 2021.”

The Next Web↗

“GM has projected between two and a half billion and three and a half billion dollars in gross tariff costs for 2026, driven by Section 232 levies on steel and aluminum imports.”

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Industry context and tariffs

Tariffs are adding pressure: GM estimated $2.5 to $3.5 billion in gross tariff costs for 2026 from Section 232 steel and aluminum levies Source: The Next Web. Across the market, a dozen EV models have been discontinued or cancelled due to 25% import tariffs and the expiration of the $7,500 federal tax credit. Meanwhile, Ford's first-half sales fell over 10%, Tesla dropped nearly 15%, and Stellantis rebounded with nearly 5% growth Source: The Next Web.