Corvette SUV and Electric Sports Car Plans Reportedly Shelved as GM EV Sales Fall 62 Percent in Q3

Plans for a Corvette SUV and an electric Corvette sports car have reportedly been shelved, according to reporting circulating in early November 2026. The vehicles were reportedly expected to launch by 2026, but so far there has been nothing but silence, and the reports have not been confirmed by GM itself. CARC flags that distinction plainly: this is a report about a shelved plan, not a GM announcement, and readers should not treat it as official until the company speaks.

The market context makes the reports plausible, even if unconfirmed. The electric vehicle market had strong momentum at the start of this decade, with Ford even expanding the Mustang lineup with an EV spin-off called the Mustang Mach-E. In the third quarter of 2026, however, GM's EV sales declined 62 percent compared to the same period last year. That comparison needs its own caveat: the third quarter of 2025 saw a huge spike as buyers rushed purchases before the $7,500 federal EV tax credit expired, so part of the drop is a comparison effect rather than a collapse in underlying demand.

Slowing EV sales have also affected other brands. Ford ended production of the all-electric F-150 Lightning, while Ram dropped plans for an all-electric 1500 pickup. An all-electric Corvette powertrain would introduce additional uncertainties into a nameplate whose appeal is tightly bound to its engine character, and an SUV extension would test how far the Corvette badge can stretch before it dilutes the sports car itself.

What is more interesting is that Corvette sales are up. The American sports car sold 6,585 units in the third quarter of 2026, a 28.5 percent increase over the 5,123 units sold during the same period last year. A growing, gasoline-powered Corvette business alongside a shrinking EV business is a combination that makes a pause on Corvette electrification understandable, whether or not the shelving reports prove exactly right.