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EV Sales Soar 61% For Ford And 40% For GM On The Back Of Tesla ‘Conquests’

Ford Motor (F) on Wednesday joined General Motors (GM) in reporting that its U.S. auto sales grew slightly in the second quarter, despite headwinds. Both the carmakers saw EV sales surge in Q2, a hopeful sign that production of newer electric vehicles may be ramping up after supply issues. Ford also reported record quarterly sales of hybrid vehicles.

But Ford, a leader in pickup trucks alongside GM, continued to see sales slump for the important F-150 truck, its Q2 sales report on Wednesday showed. Archrival GM on Tuesday said its Q2 and first-half of 2024 sales showed it “pulling ahead in trucks,” with both the Chevy Silverado and GMC Sierra trucks seeing higher sales over those periods.

Automakers — including GM, Toyota Motor (TM), Honda Motor (HMC) and Chrysler parent Stellantis (STLA) — reported new vehicle sales in the U.S. market for the second quarter on Tuesday. Ford followed a day later. Investors watched their hybrid and EV sales as the auto giants try to shift away from traditional combustion-engine cars.