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.

The Detroit automaker reported a 2.2% drop in third-quarter sales compared to a year earlier to 659,601 vehicles sold.

GM this week reported a 2% drop in third-quarter U.S. sales to 659,601 deliveries. Toyota Motor Corp. reported a 0.8% decline in third-quarter sales with 542,872 deliveries. Stellantis NV's sales fell by 20% to 305,294 vehicles.

Key Takeaways Tesla shares are likely to remain on watchlists after gaining 32% in the third quarter, as the company prepares for a big October of potential market-moving events.The stock has moved above a long-term downtrend line and the 200-week moving average in recent weeks.