A banner advertises the Ford Mustang Mach-E electrical automobile at a Ford dealership on August 21, 2024 in Glendale, California.
Mario Tama | Getty Photos
DETROIT – Ford Motor misplaced its lead in electrical automobile gross sales to crosstown rival Common Motors through the third quarter, because the automaker’s EV progress slowed.
Ford on Wednesday reported a 0.7% improve in third-quarter U.S. new automobile gross sales, together with a 12.2% improve in EVs in contrast with a yr earlier.
The third-quarter outcomes for Ford contributed to a forty five% improve in EV gross sales this yr by means of September to 67,689 items. That compares to GM on Tuesday reporting EV gross sales of 70,450 items by means of September, together with a roughly 60% year-over-year improve throughout the third quarter.
Each Ford and GM proceed to path Hyundai Motor, together with Kia, in EVs by roughly 18,000 items or extra. The South Korean automaker stays a distant second in U.S. EV gross sales to market chief Tesla.
GM has been considerably growing its variety of EV fashions, together with by providing eight “Ultium-based” EVs for shoppers — referring to its electrical automobile structure and battery applied sciences. Ford, however, solely has three EVs and is focusing extra on increasing hybrid fashions within the brief time period.
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“Different lifestyles and use cases require unique types of power,” Andrew Frick, president of Ford Blue and customer support, stated in a launch. “We’ve listened to customers to offer them vehicles with powertrains to meet their specific needs, and their response validates our product strategy.”
Whereas Ford has de-emphasized its near-term EV plans, firm executives corresponding to CEO Jim Farley have touted the model’s rating in gross sales.
The Ford model maintains its No. 2 gross sales place behind Tesla, in response to the Detroit automaker.
Relating to Ford’s general third-quarter gross sales, the corporate is predicted to have outpaced the business. Auto business forecasters corresponding to Cox Automotive and Edmunds mission third-quarter gross sales industrywide shall be down roughly 2% in comparison with a yr earlier.
Ford was led by features in its EVs and hybrid fashions, which mixed to account for 14% of its gross sales through the third quarter. Conventional autos for the automaker had been down by 2.8% year-over-year.
Ford’s U.S. gross sales this yr by means of the third quarter had been up 2.7% in comparison with a yr earlier to greater than 1.5 million autos bought.
