CNBC reported that the electric vehicles from the American automaker Ford Motor are expected to take second place in sales by 2023.
Ford, citing third-party sources, announced that it has surpassed Hyundai/Kia in sales, but Tesla still leads the industry by a wide margin, despite losing market share as new electric vehicle manufacturers emerge.
S&P Global Mobility, an analytical firm, reported that Tesla is losing market share in the U.S. as new manufacturers enter the market, with the company’s sales percentage dropping to 65% in the third quarter, down from 71% last year.
Ford stated that its share of the electric vehicle market was 7.4%, compared to 5.7% the previous year.
Ford reported sales of 53,752 electric vehicles in the U.S. in the third quarter, while Tesla announced deliveries of over 908,000 electric vehicles during the same period.
General Motors CEO Mary Barra said that the company expects to surpass Tesla in electric vehicle sales by 2025, as plans for a significant increase in EV production are set to take place soon.