The Numbers Lied: GM Is Beating Ford in EVs
Since taking the helm of Ford Motor Company (NYSE: F) in late 2020, CEO Jim Farley has been hyping the automaker's electric-vehicle plans. In late 2021, Farley said Ford would be America's No. 2 EV maker by the end of 2023, with plans to overtake market leader Tesla later in the decade.
Ford reached the No. 2 spot in the U.S. EV market in 2022, ahead of schedule, unseating General Motors (NYSE: GM). That seemed to verify Farley's claims that Ford was the leader among non-Tesla EV makers. But the numbers didn't tell the whole story. More recently, it has become clear, again, that GM has a sizable lead over Ford in the EV market.
In 2022, Ford's Mustang Mach-E was the best-selling non-Tesla EV in the U.S., with nearly 40,000 deliveries. GM's Chevy Bolt family came just behind, with 38,120 deliveries.
Source Fool.com
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