GM's Electric Vehicle Average Transaction Price More Than Doubled Over Past Year

General Motors has shifted to ever-more expensive electric vehicles. Year to date, deliveries are up by about 13,000 units.

Automakers have been dropping low-cost car models and shifting to dramatically more expensive battery-only crossovers, SUVs, and trucks. We have reviewed GM-supplied delivery data that indicates GM's average transaction price for its battery-only vehicles has more than doubled in the past year or so. 

General Motors’ combined brands have started to move the needle on battery-only passenger vehicle volumes. Year to date, GM has delivered 69,458 passenger EVs in total, compared to last year’s delivery at this time of 56,018. GM’s commercial Brightdrop vans have grown by about 600 units in 2024 year to date. 

The majority of last year’s EVs sold were the affordable Bolt and Bolt EUV crossover/hatchbacks. We estimate these vehicles had an average transaction price from Chevy dealers of roughly $31K (before any buyer-facing government subsidies). However, every EV model GM now sells has a dramatically higher ATP, meaning that General Motors’ EVs in 2024 have trended upmarket since the last Bolts were sold off following its production cancelation late in 2023. 

GM Battery-Electric Vehicle Sales & Estimated Average Transaction Price

• GM’s Top seller is the Cadillac Lyriq crossover. We estimate that the ATP for this model is $62K. 
• Number two in delivery volume is the Blazer EV crossover. We estimate its ATP at $55K
• Third is the Equinox EV with an estimated ATP of $48K
• GMC’s Hummer is next with an estimated ATP of $103K
• Leftover Bolts were the next-highest volume of EVs delivered with an est. ATP of $31K
• The Silverado and Sierra EV trucks were next, and we estimate their ATP around $97K

General Motors had been the volume leader in affordable EVs (those priced under $35K) for years. When the company decided to sunset the Bolt and Bolt EUV line, there was no replacement. The Equinox EV was initially promised to have a low starting cost when it went on sale, but GM instead started with a fancier trim priced 50% higher than the outgoing Bolts averaged. The low-cost Equinox EV “LT” trim has not yet started to be delivered to consumers as of the publication of this story. With the volume of battery-only vehicles GM makes being dominated by the Lyriq, Blazer, Hummer, and Silverado, we estimate that GM’s electric vehicle average transaction price has more than doubled in 2024 by comparison to 2023. 

General Motors is not alone in offering ever-more-costly electric vehicles. In 2024, there is only one EV remaining for sale with an average transaction price below $35K, the Nissan Leaf. 

Related Story: Myth Busted - EV Prices Still Well Above ICE and Hybrids - With One Important Exception

General Motors has indicated that the Bolt line may return. However, no specifics on this possibility have been offered. Check back with Torque News for a final estimated delivery volume and ATP average for GM in early January. 

Chart of GM's EV deliveries by John Goreham based on GM data. Image of Cadillac Lyric courtesy of GM.

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John Goreham is an experienced New England Motor Press Association member and expert vehicle tester. John completed an engineering program with a focus on electric vehicles, followed by two decades of work in high-tech, biopharma, and the automotive supply chain before becoming a news contributor. In addition to his eleven years of work at Torque News, John has published thousands of articles and reviews at American news outlets. He is known for offering unfiltered opinions on vehicle topics. You can connect with John on Linkedin and follow his work at our X channel. Please note that stories carrying John's by-line are never AI-generated, but he does employ Grammarly grammar and punctuation software when proofreading.