Rocket Thrusters on a Road Car Arrive as EV Makers Split Into Winners and Laggards

GM's EV sales comparison reflects a prior-year rush to buy before federal incentives of up to $7,500 disappeared.

Rhea-AI Summary

General Motors (NYSE: GM) reported third-quarter U.S. vehicle sales of 670,974, as its electric-vehicle sales fell sharply from a year earlier. Total sales declined 5.5%; EV sales fell about 62% to 25,213 from 66,501. The prior-year quarter benefited from purchases ahead of the elimination of federal incentives.

Results diverged across competitors. Rivian (NASDAQ: RIVN) delivered 19,248 vehicles, up roughly 45%, and reaffirmed 2026 delivery guidance of 65,000 to 70,000. Tesla (NASDAQ: TSLA) delivered 486,532 vehicles, down 2%, and unveiled its next-generation Roadster, with production planned for 2028. Lucid (NASDAQ: LCID) produced 2,954 vehicles, down sequentially following a shift reduction, and delivered 3,806. Albemarle (NYSE: ALB) reported second-quarter net sales of $1.7 billion, up 31.1%, and earnings of $3.52 per diluted share.

10 points · 1 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 6 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Lucid's operating reset targets $1.4 billion in cash flow improvements in 2026.
• Moderate pointRivian's third-quarter deliveries reached a quarterly record of 19,248 vehicles, up roughly 45% year over year.
• Moderate pointAlbemarle's second-quarter net sales rose 31.1% year over year to $1.7 billion.
• Moderate pointAlbemarle earned $3.52 per diluted share in the second quarter.
• Minor point. Forward-looking: it has not happened yet and may not happen.Rivian reaffirmed 2026 delivery guidance of 65,000 to 70,000 vehicles.

5 minor points

• Minor pointAlbemarle's second-quarter Energy Storage net sales increased 77.9% year over year to $1.3 billion.
• Minor pointAlbemarle's second-quarter sales volume reached 65 kilotonnes of lithium carbonate equivalent, up 11.0% year over year.
• Minor pointLucid said demand for its Gravity SUV continued to regain momentum.
• Minor point. Forward-looking: it has not happened yet and may not happen.Tesla plans 2028 production for its newly unveiled next-generation Roadster.
• Minor pointMizuho upgraded Albemarle to Outperform with a $130 price target on October 13.

Negative

• Moderate pointGM's third-quarter EV sales fell about 62% to 25,213 from 66,501 a year earlier.
• Moderate pointGM's third-quarter U.S. vehicle sales declined 5.5% year over year to 670,974.
• Moderate pointLucid's third-quarter production fell sequentially to 2,954 vehicles after eliminating its AMP-1 second shift in June.
• Minor pointGM's Chevrolet Equinox EV sales fell 92.4% to 1,905 units in the third quarter.
• Minor pointTesla's third-quarter deliveries declined 2% year over year to 486,532 vehicles.
• Minor pointAlbemarle shares fell 4.2% in pre-market trading on October 12 as lithium carbonate futures declined.

News Explained

Tesla has reopened reservations for the next-generation Roadster’s Performance version with a $50,000 deposit; the release discloses a reservation payment term but gives no vehicle price.

Key Figures

U.S. vehicle sales: 670,974 vehicles, down 5.5% GM EV sales: 25,213 vs. 66,501 vehicles, down about 62% Chevrolet Equinox EV sales: 1,905 units, down 92.4%

U.S. vehicle sales

670,974 vehicles, down 5.5%

Third quarter, year over year

GM EV sales

25,213 vs. 66,501 vehicles, down about 62%

Third quarter, year over year

Chevrolet Equinox EV sales

1,905 units, down 92.4%

Third quarter, year over year

AI-generated analysis. How Rhea-AI works. Not financial advice.

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AUSTIN, Texas, Oct. 16, 2026 /PRNewswire/ -- Energy Metal News News Commentary - Global electric car sales grew 20% to exceed 20 million in 2025 and are expected to reach 23 million in 2026, representing 28% of total car sales, according to the International Energy Agency's Global EV Outlook 2026. The agency tied part of that momentum to the energy crisis resulting from the conflict in the Middle East, which has focused attention on oil imports, and estimated that the global EV fleet avoided the consumption of around 1.7 million barrels of oil per day in 2025. Active Companies from around the markets with current developments this week include: Tesla, Inc. (NASDAQ: TSLA), Rivian Automotive, Inc. (NASDAQ: RIVN), Lucid Group, Inc. (NASDAQ: LCID), General Motors Company (NYSE: GM), Albemarle Corporation (NYSE: ALB).

Sales accelerated through the middle of the year. Global EV sales jumped 35% in the second quarter from the first three months of 2026 and set quarterly records in 50 countries, Electrek reported, citing new IEA analysis. More than 90 countries recorded year-over-year EV sales growth in the first half.

The U.S. market is moving on a different track. Federal incentives of up to $7,500 were eliminated last year, and automakers reporting third quarter sales this month are lapping a quarter in which shoppers rushed to buy before the credit disappeared. The results have split the field between companies still adding volume and those cutting output or absorbing steep declines.

The supply chain behind those cars is concentrated. The IEA said China accounted for over 80% of battery cell production in 2025 and even higher shares of production of the active materials in EV batteries, which keeps the metals that go into batteries, motors and lightweight vehicle structures at the center of the industry's cost picture.

CONTINUED... Read this and more news for the EV Sector at: energymetalnews.com

In other industry developments and happenings in the market this week include:

Tesla, Inc. (NASDAQ: TSLA)

Tesla unveiled the next-generation Roadster on October 15 in Texas, nearly nine years after it first showed a prototype, and now says production starts in 2028, according to the Associated Press. Tesla lists three versions with claimed 0-60 mph times of under 1.6 seconds, under 0.9 seconds and under 0.59 seconds, and Electrek reported that the car is built with magnesium, titanium and carbon fiber to save weight. Reservations reopened with a $50,000 deposit for the Performance version; no prices were given.

Tesla's third quarter report showed production of 464,391 vehicles and deliveries of 486,532, a 2% decline from a year earlier according to Electrek, along with 13.7 GWh of energy storage deployments. Tesla will post its third quarter financial results after market close on Wednesday, October 21.

Rivian Automotive, Inc. (NASDAQ: RIVN)

Rivian set a quarterly sales record in the third quarter. The company reported that it produced 19,751 vehicles at its plant in Normal, Illinois and delivered 19,248, up roughly 45% from a year earlier, according to TechCrunch, and reaffirmed its 2026 delivery guidance of 65,000 to 70,000 vehicles.

It was the first full quarter of sales for the R2, the smaller SUV that launched in June at a starting price of just under $60,000, with cheaper versions expected to start around $45,000. Rivian will release third quarter financial results after market close on October 29.

Lucid Group, Inc. (NASDAQ: LCID)

Lucid moved in the opposite direction on output. The company reported third quarter production of 2,954 vehicles and deliveries of 3,806, with production lower sequentially after it eliminated a second shift at its AMP-1 factory in June. Deliveries exceeded production as Lucid worked down inventory as part of an operating reset targeting $1.4 billion in cash flow improvements in 2026.

The company said demand for the Lucid Gravity SUV continued to regain momentum. Lucid will report third quarter results on Monday, November 9.

General Motors Company (NYSE: GM)

GM's third quarter showed how hard the U.S. comparison has become. The company sold 670,974 vehicles in the U.S. in the quarter, down 5.5% from a year earlier, while its EV sales fell to 25,213 from 66,501, a decline of about 62%, according to GM Authority's tally of GM's delivery report. The Chevrolet Equinox EV fell 92.4% to 1,905 units.

The Cadillac Optiq was GM's best-selling EV in the quarter at 4,550 units, and the returning Chevrolet Bolt added 3,866. The year-earlier quarter was inflated by buyers racing to use federal incentives of up to $7,500 before they were eliminated.

Albemarle Corporation (NYSE: ALB)

For the lithium supplier, October has been a test of sentiment. On October 12, the most active lithium carbonate contract on the Guangzhou Futures Exchange fell 11.8% to 104,740 yuan per ton, its lowest level in nearly ten months, and Albemarle shares fell 4.2% in pre-market trading, according to GuruFocus. A day later, Mizuho upgraded the stock to Outperform with a $130 price target, citing surging energy storage demand.

The company's second quarter results showed net sales of $1.7 billion, up 31.1% from a year earlier, with Energy Storage net sales of $1.3 billion, up 77.9%, on sales volume of 65 kilotonnes of lithium carbonate equivalent, up 11.0%. Albemarle earned $3.52 per diluted share and will release third quarter results on Wednesday, November 4.

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FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did GM's third-quarter EV sales decline?

GM's third-quarter EV sales fell about 62% to 25,213 vehicles, compared with 66,501 a year earlier. The prior-year quarter included a rush to buy before federal incentives of up to $7,500 were eliminated.

What cash flow improvement is Lucid targeting in 2026?

Lucid is targeting $1.4 billion in cash flow improvements in 2026 through its operating reset. Third-quarter deliveries exceeded production as the company worked down inventory.