GM is still the #2 EV seller in the US, but for how long?
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- GM sold 25,900 EVs in Q1 2026, keeping its #2 spot behind Tesla but down 20% YoY.
- Supreme Court ordered a $500 million tariff refund to GM, prompting the automaker to lift its 2026 earnings outlook to $13.5‑$15.5 billion.
- Mary Barra said GM’s core operations have solid momentum, while the company still expects $2.5‑$3.0 billion in tariffs this year.
- Hyundai’s IONIQ 5 outsold GM’s Chevy Equinox EV in the first quarter, signaling a potential overtaking of GM’s EV market share.
- Kia plans to launch the EV3 later this year at under $35,000, a low‑cost rival that could erode GM’s price‑competitive edge.
Why it matters: GM gains $500M cash boost and higher earnings guidance, while rivals like Hyundai gain market share; the tariff relief reduces GM’s cost base by $1B, tightening competition and pressuring its EV strategy.
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