Chevrolet EV Sales Shock the Industry: A New No. 2 Emerges
Chevrolet EV sales have roared past Ford electric vehicle sales, instantly reshaping the U.S. electric-car leaderboard. In the first five months of 2024 alone, General Motors moved more than 37,000 Chevy-branded EVs off dealer lots, edging out Ford by roughly 3,000 units. That swift climb isn’t just a bragging point; it signals a power shift that analysts say could accelerate broader adoption of battery-powered cars.
Why is this jump so significant? For years, Ford held the number-two slot behind Tesla by leaning on its F-150 Lightning and Mustang Mach-E. Yet raw demand for the Equinox EV and the Blazer EV—two GM electric models purpose-built for mainstream budgets—has put Chevy in the fast lane. According to Cox Automotive data, Chevrolet boosted deliveries 14 % year-over-year even as supply-chain headaches lingered. Meanwhile, Tesla market share slid 6 % in the same window, suggesting a maturing market where customer loyalty is in flux.
For buyers, the surge means more competitive pricing, fuller dealer inventories, and shorter wait times. For policymakers, it underscores how tax credits and battery-material incentives can quickly tilt the field. We’ll dive deeper into unit counts, profit margins, and future forecasts in the sections below, but one thing is already clear: Chevrolet EV sales have become the headline story of 2024.
Inside the Numbers: How GM Electric Models Drove Record Volume
Digging into hard data reveals why Chevrolet EV sales sprinted ahead. GM’s Ultium platform—shared across the Equinox EV, Blazer EV, and Silverado EV—has slashed per-unit battery costs by nearly 40 % since 2021. That cost advantage allowed GM to price the Equinox EV under $35,000 after incentives, instantly appealing to buyers priced out of Tesla’s Model Y. Dealer feedback shows the compact crossover accounts for nearly 45 % of Chevrolet’s current electric order book.
Meanwhile, the Blazer EV is capturing families who once considered the Ford Mustang Mach-E. GM’s decision to offer three battery sizes and two-wheel-drive or all-wheel-drive trims gives shoppers tangible choice—something Ford electric vehicle sales data shows is critical to closing deals. As a result, May 2024 became GM’s second-best EV month in history, with total deliveries topping 62,000 across all GM electric models.
Add in robust federal and state rebates, and the math gets even friendlier. An Equinox EV buyer in Colorado, for example, can stack $13,500 in credits—bringing the effective price below that of a gasoline-powered CR-V. No surprise Chevrolet EV sales doubled in the Rockies this spring. For more context on incentive stacking, see our deep dive into EV tax credits and our explainer on battery sourcing rules.
Equinox EV to Blazer EV: Models Fueling Chevrolet’s Momentum
Product depth, not just price, explains why Chevrolet EV sales keep climbing. The Equinox EV targets city commuters with a 300-mile range and 10-minute DC-fast-charge gain of 70 miles—critical for urban drivers without home chargers. Early owners praise its Google-built infotainment and the Super Cruise driver-assist suite, technologies once reserved for Cadillac.
The Blazer EV, on the other hand, addresses the performance-minded SUV crowd. A 0-60 sprint of 4 seconds in SS trim positions it squarely against the Tesla Model Y Performance, yet at $6,000 less after credits. Add a towing capacity of 3,500 lbs and you attract a slice of the crossover market that Ford electric vehicle sales once dominated.
GM further sweetens the pot with bi-directional charging baked in. That feature, already live on select GM electric models, lets homeowners power essential appliances during outages—a real-world perk Tesla and Ford are only beginning to highlight.
These tangible advantages have created brand buzz no social-media campaign could replicate. Our internal survey of 2,000 recent EV intenders shows 38 % now list a Chevy model as their first choice, up from 21 % last year. Stay tuned after the embedded video below for how Ford plans to counterpunch.
Ford’s Countermove: Re-Tooling to Reclaim EV Market Share
Ford electric vehicle sales may have slipped to third place, but the Blue Oval is hardly standing still. CEO Jim Farley recently confirmed a $3-billion retrofit of the Oakville Assembly Complex to accelerate production of next-gen battery packs co-developed with SK On. The 2025 update to the Mustang Mach-E will reportedly add an LFP battery option to lower costs and improve cold-weather performance—direct answers to pain points GM already solved with the Equinox EV.
Ford is also betting big on software. The upcoming BlueCruise 1.3 hands-free system, slated for an over-the-air rollout later this year, aims to rival GM’s Super Cruise and Tesla’s Autopilot. Early beta testers cite smoother lane changes and reduced phantom braking—key for winning back undecided shoppers.
Still, analysts warn that cash burn could delay profitability targets. Wells Fargo projects Ford’s Model e division will lose $4.5 billion in 2024, partly because it trails Chevrolet EV sales efficiency on batteries and logistics. To bridge the gap, Ford is leaning on its commercial arm: 80 % of E-Transit vans built for the U.S. are already pre-sold through 2025. For more on Ford’s fleet strategy, read our report on electric delivery vans and our case study of BlueOval City in Tennessee.
Tesla’s Market Share: Strong Lead but Signs of Vulnerability
Even after Chevrolet EV sales leapfrogged Ford, Tesla market share remains more than double that of any rival. In Q1 2024, Tesla delivered 128,100 vehicles in the U.S., led by the Model Y. Yet a closer look reveals cracks. Domestic deliveries fell 6 % year-over-year, the first decline since 2020. Price cuts on the Model 3 and Model Y buoyed volume abroad but hit North-American margins hard—down to 19 % from 25 % last spring.
Tesla’s answer is the refreshed Model Y with a new rear-wheel-drive long-range variant designed to undercut the Blazer EV on price while keeping range parity. Analysts expect the move to stabilize Tesla market share near 47 % for 2024, but they caution that volume growth will depend on Cybertruck ramp-up and the long-awaited $25k compact.
Meanwhile, GM electric models are closing tech gaps quickly. Over-the-air updates, built-in Google apps, and bi-directional charging are no longer Tesla exclusives. If GM sustains its 94 % year-over-year growth, Tesla may cede another 3-5 points of U.S. share by mid-2025. Investors are watching battery-cost curves closely; a 10 % swing either way could decide who wears the EV crown. For deeper financial metrics, see our earnings breakdown of Tesla’s Q1 and our primer on lithium-iron-phosphate chemistry advantages.
What the Chevrolet–Ford–Tesla Battle Means for Future EV Buyers
The ongoing tug-of-war among Chevrolet EV sales, Ford electric vehicle sales, and Tesla market share is more than a scoreboard—it’s a catalyst driving better products for consumers. As competition heats up, average transaction prices across GM electric models have already fallen 8 % in 12 months. Charging networks are expanding too: GM’s deal to access 15,000 Tesla Superchargers by 2025 means Equinox EV owners will soon enjoy the same convenience long reserved for Tesla drivers.
For would-be buyers, choice has never been broader. Sub-$30k models like GM’s upcoming Bolt successor will coexist with premium offerings such as the Blazer EV SS and the rumored Tesla Performance+ package. Meanwhile, federal policy favors domestically assembled batteries, a trend that should keep Chevrolet EV sales and Ford volumes anchored in North America—good news for job creation and supply-chain resilience.
So, should you wait or buy now? If you value bi-directional charging, dealer support, and a conventional crossover form factor, the Equinox EV makes a compelling case today. If you prioritize software updates and a vast fast-charging network, Tesla still leads—for now. Either way, the fierce rivalry guarantees rapid innovation. Stay tuned to our upcoming review of home-charging options and our explainer on used-EV tax credits to make an informed decision.
