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 stated Friday that it has achieved CEO Jim Farley’s purpose of changing into the second best-selling automaker of electrical automobiles within the U.S.
The Detroit automaker, citing third-party business knowledge, narrowly topped Hyundai/Kia to hit the purpose. Tesla stays the business chief by a large margin, however has been dropping market share as extra EVs enter the market.
Ford stated its share of the electrical car section was 7.4% by means of November, up from 5.7% a yr earlier.
Ford reported gross sales of 53,752 all-electric automobiles within the U.S. by means of November. Tesla, which doesn’t escape home outcomes, reported international deliveries of greater than 908,000 EVs by means of the third quarter.
Hyundai’s gross sales don’t embrace the Nexo hydrogen gasoline cell car. The firm says with that car, it barely outsold Ford in battery- and gasoline cell-powered automobiles of 54,043 items by means of November.
The gross sales come after the South Korean automaker misplaced incentives that gave consumers of its EVs tax credit of as much as $7,500 below the Biden administration’s Inflation Reduction Act, which took impact in August. Vehicles comparable to Ford’s EVs which might be produced in North America nonetheless qualify for the credit score.
Hyundai Motor CEO Jaehoon “Jay” Chang, in an exclusive interview with CNBC, described the lack of incentives as regarding and a “very challenging issue.”
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 automobiles within the U.S. stood at 65% by means of the third quarter, down from 71% final yr 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 stated the corporate plans to prime 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 yr, 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 have been down 7.8% from a yr earlier. The firm reported U.S. car gross sales final month of 146,364 items – its second-worst total whole since June. Its EV gross sales have been up from a yr in the past, when gross sales quantity was very restricted.
Ford, citing retail orders, stated demand for its automobiles stays robust. It didn’t give a cause for the November gross sales declines, however the firm and different automakers proceed to battle by means of provide chain issues.
Sales of Ford’s worthwhile F-Series pickups have been solely 55,169 in November – off 8.7% from a yr earlier. They at the moment are off 12.8% for the yr following reported elements issues with the automobiles.
Sales of all Ford’s automobiles, together with its luxurious Lincoln model, totaled lower than 1.7 million items by means of November, a 2.7% lower from a yr earlier.
– CNBC’s Phil LeBeau contributed to this report.
Correction: Hyundai Motor’s whole electrical car gross sales have been 54,043 items by means of November, together with its fuel-cell car. A earlier model of this text misstated that quantity, citing third-party knowledge.