Ford F-150 Lightning pickup vans sit on the manufacturing line on the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan.
Bill Pugliano | Getty Images
DETROIT – Ford Motor mentioned Friday that it has achieved CEO Jim Farley’s purpose of changing into the second best-selling automaker of electrical autos within the U.S.
The Detroit automaker, citing third-party trade information, narrowly topped Hyundai/Kia to hit the purpose. Tesla stays the trade chief by a large margin, however has been dropping market share as extra EVs enter the market.
Ford mentioned its share of the electrical automobile phase was 7.4% via November, up from 5.7% a 12 months earlier.
The firm reported gross sales of 53,752 all-electric autos within the U.S. via November. Tesla, which doesn’t get away home outcomes, reported world deliveries of greater than 908,000 EVs via the third quarter.
Ford topping Hyundai comes after the South Korean automaker misplaced incentives that gave patrons of its EVs tax credit of as much as $7,500 underneath the Biden administration’s Inflation Reduction Act, which took impact in August. Vehicles resembling Ford’s EVs which are produced in North America nonetheless qualify for the credit score.
Hyundai didn’t instantly reply for remark. Hyundai Motor CEO Jaehoon “Jay” Chang, in an unique interview with CNBC, described the lack of incentives as regarding and a “very difficult situation.”
Motor Intelligence confirmed Ford topped Hyundai in EV gross sales via November. The automotive information agency experiences Hyundai offered 52,061 EVs via November – 1,691 models lower than Ford.
Tesla has long-dominated U.S. EV gross sales. But with extra EVs changing into out there, S&P Global Mobility reported its market share of latest registered electrical autos within the U.S. stood at 65% via the third quarter, down from 71% final 12 months and 79% in 2020.
Holding onto the No. 2 spot − a purpose Farley beforehand introduced Ford would obtain by 2023 − could show difficult. General Motors CEO Mary Barra has mentioned the corporate plans to high Tesla in EV gross sales by mid-decade, as America’s largest automaker plans to considerably step up EV manufacturing within the coming years.
GM doesn’t report month-to-month gross sales. Through the third quarter of this 12 months, it reported gross sales of lower than 23,000 EVs.
Ford reported its EV gross sales as a part of its November outcomes, which total had been down 7.8% from a 12 months earlier. The firm reported U.S. automobile gross sales final month of 146,364 models – its second-worst total complete since June. Its EV gross sales had been up from a 12 months in the past, when gross sales quantity was very restricted.
Ford, citing retail orders, mentioned demand for its autos stays robust. It didn’t give a motive for the November gross sales declines, however the firm and different automakers proceed to battle via provide chain issues.
Sales of Ford’s worthwhile F-Series pickups had been solely 55,169 in November – off 8.7% from a 12 months earlier. They are actually off 12.8% for the 12 months following reported elements issues with the autos.
Sales of all Ford’s autos, together with its luxurious Lincoln model, totaled lower than 1.7 million models via November, a 2.7% lower from a 12 months earlier.
– CNBC’s Phil LeBeau contributed to this report.