The figures are in for the first three quarters of the year. 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. Forecasts have EV sales declining for the remainder of this year and into the next.
Ford’s EV Struggles
Ford’s management has to know that its electric vehicle (EV) plans are in tatters. 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. Ford’s overall EV sales this year are barely higher than those for the same period a year ago.
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. Ford has now gone past the point at which that could happen, but it has decided to soldier on based on a new announcement.
Ford’s next moves are to continue its ongoing EV investment. It will lose $5 billion in that business line this year. It has been said, with some exaggeration about likely results, that it will launch its Universal EV Production System. Yet, it is expected to introduce only one new EV model in 2027. In a familiar trend of wild exaggeration, it has dubbed this its “Model T moment” for EVs. Company chief Bill Ford and CEO Jim Farley have thus compared it to one of the greatest innovations of the industrial era. They are only the management of a global organization that would have enough arrogance to go that far.
Ford has consistently proven that it has failed in the EV business. Another way to view its management ability is that crosstown rival GM, with most of the same tools, has performed significantly better.
Ford Stock Price Prediction and Forecast 2025-2030
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