Ford has claimed the place of the second best-selling electrical car (EV) model within the US, trailing solely Tesla. Nonetheless, current gross sales reviews present that GM surpassed Ford in EV gross sales in the course of the third quarter, including depth to the competitors because the 12 months involves an in depth.
On Monday, GM reported a outstanding 60% enhance in EV gross sales for Q3, whereas Ford insisted it stays the quantity two model within the US for 2024. Ford’s Q3 gross sales figures, launched on Tuesday, indicated a year-over-year progress of 12% in its EV gross sales.
Within the third quarter, Ford bought 23,509 electrical automobiles, a slight lower from the 23,957 bought within the earlier quarter however a rise from final 12 months’s whole of 20,962. Amongst these, Ford bought 13,392 Mach-E fashions, a decline of 9.8% in comparison with Q3 2023. In distinction, the electrical F-150 Lightning noticed a surge in recognition, with gross sales rising by 104.5% to achieve 7,162 items.
Ford’s E-Transit continues to steer because the best-selling electrical van in America, having bought an extra 2,955 items within the third quarter. This brings its gross sales whole to 9,256 for the 12 months to date, marking a considerable 67% enhance year-over-year.
In whole, GM bought 32,095 EVs within the final three months, outpacing Ford. The introduction of latest all-electric fashions from GM, together with the Chevy Equinox, Blazer, and Silverado EV, contributed to this progress. Consequently, GM’s share of the US EV market elevated from 7.1% in Q2 to 9.5% in Q3.
Regardless of these figures, Ford contends that it has maintained its lead available in the market for the primary 9 months of 2024. By September, Ford reported a cumulative whole of 67,689 EVs bought within the US. Conversely, GM’s gross sales throughout the identical interval reached 70,450 electrical automobiles, putting it in a stronger place.
To boost its gross sales efforts, Ford has launched the “Ford Energy Promise” program, efficient October 1, 2024. This initiative offers new EV patrons with a complimentary residence charger and covers the price of customary set up. Ford goals to focus on the benefits of electrical car possession, corresponding to residence charging, to encourage these hesitant about transitioning to electrical.
In abstract, with six electrical car fashions presently obtainable (excluding the Brightdrop van and Chevy Bolt EV/EUV), GM’s progress trajectory within the EV market isn’t a surprise. GM’s technique, which focuses on providing electrical automobiles in high-demand segments, is lastly paying off. Regardless of issues over a possible slowdown in EV adoption within the US, each GM and different producers show that demand persists when the precise fashions can be found at aggressive costs.
In response, Ford is pivoting in direction of extra compact and inexpensive electrical automobiles. The corporate has assembled a crew in California devoted to growing an economical platform for future electrical fashions. The primary of those fashions, a brand new electrical pickup, is scheduled for launch in 2027, whereas Ford has scrapped plans for a three-row electrical SUV to prioritize smaller fashions.
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