Ford third-quarter sales up 0.7% as GM overtakes them in electric vehicles

DETROIT – Ford engine lost its lead in electric vehicle sales to its crosstown rival General engines in the third quarter, as the automaker’s electric vehicle growth slowed.

Ford on Wednesday reported a 0.7% increase in U.S. new vehicle sales in the third quarter, including a 12.2% increase for electric vehicles compared to the previous year.

Ford’s third-quarter results contributed to a 45% increase in electric vehicle sales this year through September, to 67,689 units. That compares to GM on Tuesday reporting electric vehicle sales of 70,450 units through September, including a roughly 60% year-over-year increase during the third quarter.

Ford and GM lag behind Hyundai engine, including Kia, in electric vehicles of around 18,000 units or more. The South Korean automaker remains far behind the market leader in electric vehicle sales in the United States. Tesla.

GM has significantly increased its number of electric vehicle models, including offering consumers eight “Ultium-based” electric vehicles, referring to its electric vehicle architecture and battery technologies. Ford, on the other hand, has only three electric vehicles and is more focused on expanding hybrid models in the near term.

“Different lifestyles and use cases require unique types of energy,” Andrew Frick, president of Ford Blue and customer service, said in a statement. “We have listened to our customers to offer them vehicles with engines adapted to their specific needs, and their response validates our product strategy.”

While Ford has downplayed its near-term electric vehicle plans, company executives such as CEO Jim Farley have touted the brand’s ranking in sales.

The Ford brand maintains its second commercial position behind Tesla, according to the Detroit automaker.

Looking at Ford’s overall third-quarter sales, the company is expected to have outpaced the industry. Auto industry forecasters such as Cox Automotive and Edmunds expect the sector’s third-quarter sales to be down about 2% from a year earlier.

Ford was led by gains in its electric vehicles and hybrid models, which together accounted for 14% of its third-quarter sales. The automaker’s traditional vehicles fell 2.8% year-on-year.

Ford’s U.S. sales this year through the third quarter increased 2.7% from a year earlier, to more than 1.5 million vehicles sold.