Core Viewpoint - General Motors (GM) experienced strong performance in Q3, with adjusted earnings exceeding expectations and total sales reaching $48.6 billion, although vehicle sales were down slightly year-over-year [1][2] Sales Performance - GM sold 710,000 vehicles in the U.S. in Q3, marking the best result among automakers, and year-to-date sales increased by 20% to 2.2 million vehicles [2] - The Chevrolet Equinox electric SUV has become the best-selling EV in the U.S. (excluding Tesla), with over 25,000 units sold in Q3 alone [3][5] Factors Influencing Sales - The surge in Equinox EV sales was partly driven by consumers rushing to purchase before the expiration of the $7,500 federal tax credit at the end of Q3 [4][6] - The Equinox EV offers a competitive 319-mile range and a starting MSRP under $35,000, making it an attractive option compared to competitors like Tesla's Model Y [4] Challenges Ahead - The expiration of the federal tax credit is expected to reduce demand for the Equinox EV and other electric vehicles in Q4 and beyond [6] - A recall affecting 22,914 Equinox EVs and Cadillac Optiqs due to tire issues may further impact sales, with approximately 76% of Q3 sales of these models now recalled [8][9][12] Financial Outlook - Analysts had projected GM to achieve $185.8 billion in sales and earnings of $8.77 per share for the year, but a slowdown in EV sales could affect these estimates [13] - Despite the challenges, GM stock is considered undervalued, trading at less than 8 times earnings, with expected annual earnings growth of 8.5% over the next five years [14]