"GM sold 46,280 EVs in Q2, up 111% from last year, moving closer to Tesla in US sales units with a 15% EV market share."
"Ford sold 16,428 EVs, down 31%, attributing its struggles to numerous recalls. Its flawed strategy centers on EV branding for traditional models."
"GM's success stems from a multibrand strategy, with Chevrolet dominating the mid-market and Cadillac doubling down on electric vehicles."
"Ford's management decisions, particularly under CEO Jim Farley, have negatively impacted its vehicle quality and electric vehicle strategy."
GM experienced a substantial increase in electric vehicle (EV) sales, with 46,280 units sold in the second quarter, marking a 111% rise from the previous year. In contrast, Ford's EV sales dropped 31% to 16,428 units, primarily due to ongoing recalls. GM's multibrand strategy, which includes strong Chevrolet and Cadillac offerings, has positioned the company closer to Tesla, as it captures a growing share of the EV market. Ford, however, struggles with a flawed EV strategy and quality issues, limiting its competitiveness in the electric vehicle sector.
Read at 24/7 Wall St.
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