Ford Motor Company reported a 0.7% increase in new vehicle sales in the United States for the third quarter, while losing ground to General Motors in electric vehicle sales. The report shows a year-over-year growth in sales of EVs to 12.2 percent and a sharply increased 45 percent yearly growth in total sales of EV units, which stood at 67,689 by the end of September. Meanwhile, GM has disclosed a considerable tally of 70,450 units sold of EVs in the quarter against a very strong 60 percent increase for the same quarterly period in sales of EVs.
Whereas success at Ford continues, automakers are still lagging behind Hyundai Motor, including its subsidiary Kia, by some 18,000 units in the U.S. EV market.
Aggressive expansion in its EV lineup has been the key to GM’s recent success. The automaker now offers eight Ultium-baseda EV models, showing just how far the automaker has made into its electric vehicle architecture and battery technologies. Ford is today focused on three EV models while emphasizing near-term expansion of its hybrid offerings.
Different lifestyles and use cases demand different kinds of power. We have listened to our customers to give them vehicles with powertrains to serve their needs, and their response validates our product strategy.” Even though executives at the company, including CEO Jim Farley, would often like to highlight that Ford is No. 2 in sales, after Tesla.
Third-quarter results for Ford appear to be ahead of industry trends if looking at overall sales performance. Industry analysts like Cox Automotive and Edmunds predict the third quarter will likely see an overall drop of about 2% in automotive sales compared to the same quarter last year.
Meanwhile, Ford’s EV and hybrid sales comprised 14% of all its sales, while its conventional vehicles fell 2.8% in the same period year-over-year. Year-to-date, Ford U.S. sales have risen 2.7%, with more than 1.5 million sold to date, as of September 30th.