03:19 PM EDT, 10/01/2024 (MT Newswires) -- General Motors ( GM ) said Tuesday its US vehicle deliveries dropped 2.2% year over year in the third quarter despite a jump in electric vehicle sales.

The Detroit automaker delivered 659,601 vehicles in the three-month period, down from 674,336 a year earlier. EV sales ballooned 60% to 32,095 units.

GM said its share of US EV market grew to 9.5% in the third quarter from 7.1% in the prior three-month period. More than half of EV buyers are new to the company, according to a presentation.

"GM's EV portfolio is growing faster than the market because we have an all-electric vehicle for just about everybody," said Rory Harvey, president of global markets.

Third-quarter Chevrolet deliveries dropped 6.4% year over year to 422,871 units amid steep declines in Bolt and Camaro. Blazer EV sales skyrocketed to 7,998 from 19, while Silverado EV soared to 1,995 from 18. Overall Silverado deliveries decreased 8.5%.

Buick and GMC deliveries increased 7.8% and 6.4%, respectively, while Cadillac rose 4.4%.

GM said its dealer inventory totaled 627,048 units heading into the fourth quarter, which is typically a period of "strong" sales and lower output due to holidays.

The company is scheduled to report third-quarter financial results Oct. 22. Analysts polled by Capital IQ project normalized earnings at $2.42 a share on revenue of $44.44 billion. A year earlier, GM reported adjusted EPS of $2.28 on revenue of $44.13 billion.

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