A banner advertising the Ford Mustang Mach-E electric vehicle hangs at a Ford dealership in Glendale, California, on August 21, 2024.
Mario Tama | Getty Images
Detroit – Ford Motor Company Electric vehicle sales leadership lost to local rivals General Motors The third quarter came as automakers’ electric vehicle growth slowed.
Ford on Wednesday report U.S. new car sales increased by 0.7% year-on-year in the third quarter, of which electric vehicle sales increased by 12.2% compared with the same period last year.
Ford’s third-quarter results pushed electric vehicle sales up 45% this year through September to 67,689 units. By comparison, General Motors reported on Tuesday that it had sold 70,450 electric vehicles through September, including approximately Annual growth of 60% during the period Season three.
Ford and General Motors continue to lag modern cars, Including Kia, electric vehicle sales increased by about 18,000 units or more. South Korean automaker still lags far behind market leader in U.S. EV sales Tesla.
General Motors has significantly Increase the number of electric vehicle modelsincluding providing consumers with eight “Ultium-based” electric vehicles – referring to its electric vehicle architecture and battery technology. Ford, on the other hand, only has three electric vehicles and is more focused on Expansion of hybrid models In the short term.
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“Different lifestyles and use cases require unique types of power,” Andrew Frick, president of Ford Blue and Customer Service, said in a release. “We listened to our customers to power them Assemble vehicles to meet their specific needs and their response validates our product strategy.”
While Ford has de-emphasized its near-term plans for electric vehicles, company executives such as Chief Executive Jim Farley have touted the brand’s sales rankings.
The Ford brand maintains its second-largest sales position behind Tesla, according to the Detroit automaker.
In terms of Ford’s overall third-quarter sales, the company is expected to outpace the industry. Auto industry forecasters such as Cox Automotive and Edmunds project Industry-wide sales in the third quarter will fall by about 2% compared with the same period last year.
Ford’s growth was driven by growth in its electric and hybrid models, which together accounted for 14% of its third-quarter sales. The automaker’s traditional vehicle sales fell 2.8% from the same period last year.
Ford’s sales in the United States increased 2.7% year-on-year in the third quarter of this year, with sales exceeding 1.5 million vehicles.
