In 2021, General Motors unveiled the GMC Hummer EV, and demand for the heavy electric pickup has been so overwhelming that the company has had to stop reservations. It's a similar story with the recently unveiled GMC Sierra EV Denali Edition 1, which was fully spoken for just hours after being revealed. But what of the GM electric truck that was revealed between the two GMC offerings, the 2024 Chevrolet Silverado EV? Well, that's proving very popular too. According to GM's Q3 2022 earnings report, the third quarter of this year has seen reservations increase to 170,000, up from 150,000 in Q2 and 110,000 in Q1.

GM recently upgraded the Chevy pickup to 754 horsepower, matching the output of the top Sierra EV, and that is sure to encourage even more interested parties to put their names down for the Bowtie brand's first electric truck. And, because these aren't status symbol trucks like the Sierra EV Denali Edition 1 or the GMC Hummer EV, we should actually see these vehicles on the road pretty often. In fact, GM Research says that 95% of reservation holders intend to use the Silverado EV as a daily driver. Moreover, 87% of reservation holders chose the Silverado EV because they wanted an electric pickup that could do "truck things" like towing, and 72% said they wanted an EV that could handle off-roading. So, the Silverado EV won't be just a garage queen, it seems.

However, all is not necessarily quite as rosy as it seems. A recent study from EV specialist Recurrent Auto found that only 20% of Silverado EV reservation holders intend to purchase the vehicle, which would mean that as much as 80% of reservations could be so-called "phantom orders," the highest in the EV industry. It's unclear why that number is so high, but the fact that the truck will take some time to arrive could contribute to the problem. Another issue is that of price hikes, both from GM in terms of the base MSRP and dealers, who will take advantage where they can.

GM seems to be confident, though, as it's already thinking about another electric truck.