Ford Motor lost its lead in electric vehicle sales to General Motors during the third quarter as its EV growth slowed. Ford reported a nearly 12% rise in EV sales compared to GM's 60% rise in the same period. Both automakers continue to trail Hyundai while Tesla maintains its market dominance. GM's growing EV lineup includes eight models, while Ford offers just three and focuses more on hybrid models. Ford’s third-quarter sales were led by gains in EVs and hybrids, which accounted for 14% of its total sales. Traditional vehicle sales were down 2.8%.
Category
🗞
NewsTranscript
00:00It's Benzinga, and here's what's on the block.
00:03Ford Motor lost its lead in electric vehicle sales to General Motors during the third quarter
00:07as its EV growth slowed.
00:09Ford reported a nearly 12% rise in EV sales compared to GM's 60% rise in the same period.
00:16Both automakers continue to trail Hyundai, while Tesla maintains its market dominance.
00:20GM's growing EV lineup includes eight models, while Ford offers just three and is focusing
00:25more on hybrid models.
00:27Ford's third quarter sales were led by gains in EVs and hybrids, which accounted for 14%
00:33of its total sales.
00:34Traditional vehicle sales were down 2.8%.
00:36For all things money, visit Benzinga.com.