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GM Gains on Tesla With Fresh EV Lineup, Strong Q3 Sales

Sales of GM's electric cars are up 60% in the US, and more affordable options are on the way. Tesla reported a more modest 6.4% increase worldwide, though it sold far more vehicles overall.

Despite the slowdown in EV sales, General Motors (GM) and Tesla both reported year-over-year increases in the third quarter. That tops GM in total numbers, though it's a more modest 6.4% increase year-over-year, missing analyst expectations, CNBC reports. GM says it's the most affordable EV with over 300 miles of range, and it qualifies for the$7,500 federal tax credit, although it's pricier than the originally announced $30,000 starting price.

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