GM's EV Market Share Crushes Ford's

"Tesla Inc. ( NASDAQ: TSLA) has a market share of 43.1%. General Motors Co.'s ( NYSE: GM) was 13.8%. Ford Motor Co.'s ( NYSE: F) 6.6% market share is only slightly better than Hyundai's 5.8%. Total sales across the industry were just above 1 million, after a surge in the third quarter to 438,000 units sold. The expiration of the $7,500 federal tax credit was responsible for the surge."

"After tens of billions of dollars invested in its EV development, its market share is astonishingly low. It went so far as to use the name of its most popular model, the F-150, in an attempt to jump-start electric pickup sales by naming this version the F-150 Lightning. It took the name of its iconic sports car brand, the Mustang, and named an EV crossover the Mustang Mach-E."

"Whether or not it is true, the number of EV models GM has gets the credit for its success in the business. As of mid-year, this number was 12. Chevy has three. Cadillac has five. GM, a company that has outflanked Ford, has not made Ford's wild claims about the extent to which it would eventually dominate the EV sector in the United States by making a huge investment and leveraging its most well-known brands."

U.S. EV market share shows Tesla at 43.1%, GM at 13.8%, Ford at 6.6%, and Hyundai at 5.8%. Industry sales exceeded one million units through three quarters, with a third-quarter surge to 438,000 units driven by expiration of the $7,500 federal tax credit. Forecasts expect EV sales to decline later this year and into next year. Ford invested tens of billions in EV development but retains low market share despite using established nameplates like F-150 Lightning and Mustang Mach-E. GM’s broader EV model lineup (12 models mid-year) is credited for stronger performance. Ford plans to continue EV investment and will lose about $5 billion this year in the business line.

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