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GM was the chief of the US EV market amongst legacy automakers for a number of years.* Going again to the early days of this EV period, it began with the Chevy Volt extended-range electrical automobile (a plug-in hybrid with a bigger-than-typical battery). The Chevy Bolt EV then got here alongside and carried GM considerably strongly into the total BEV period. Ford appeared to be sleeping on the wheel, with a really lame try at an EV known as the Ford Focus Electrical. Then, Ford acquired critical and created “Staff Edison,” treating the interior group like a startup and giving the crew the liberty to create nice, thrilling, compelling electrical autos. They actually nailed it, growing a few of the finest electrical autos on the US market. Nevertheless, GM has bounced again and simply reclaimed its title. (*After all, Tesla has lengthy been the strongly dominant chief of the US EV market.)
On the again of the favored Ford Mustang Mach-E and Ford F-150 Lightning, and making the most of the Chevy Bolt EV needing to be saved off the marketplace for a protracted time frame as a result of battery points, Ford shot to the highest of the US EV market final yr amongst legacy automakers (however nonetheless far, far beneath reigning king Tesla). This yr, we had an actual competitors between the giants of Detroit — Ford & GM. I used to be fairly curious to see the way it turned out.
Leaping to the chase, Ford ended the yr with 72,608 full battery-electric automobile (BEV) gross sales, whereas GM snatched again the title with simply barely extra gross sales, 75,585 BEV gross sales. So, GM is once more the king of EVs in Detroit, by a hair.
Whereas another automakers get excessive reward for his or her EVs — and deservedly so — GM was in truth the second finest vendor of electrical autos within the nation in 2023, solely trailing Tesla.
Notably, Ford sprinted by way of the end line with an enormous 4th quarter. The Ford F-150 Lightning had not damaged 4,500 gross sales in any of the earlier three quarters, however then it acquired 11,905 gross sales within the 4th quarter! The Ford Mustang Mach-E had a considerably stronger third quarter, however the 4th quarter was its second finest quarter of the yr, touchdown 11,889 gross sales. Ultimately, Ford had multiple third of its 2023 gross sales coming within the 4th quarter. What does that imply for 2024? Effectively, we don’t actually know. Like the state of affairs with XPeng and NIO, a powerful 4th quarter might be the leaping off level for a powerful starting of 2024 and onward, or we might have a dip in gross sales within the 1st quarter of 2024 after that explosive finish to 2023. The excellent news is the Ford F-150 Lightning nonetheless qualifies for the total $7,500 US EV tax credit score. The dangerous information is that it appears the Mustang Mach-E in all probability gained’t — until Ford adjustments some issues up with its battery provide chain. Keep tuned.
As for GM, the first quarter of 2023 was truly its finest. Although, the first, third, and 4th quarters have been all very shut. Nevertheless, GM will certainly get a lift in 2024, because the Chevy Blazer EV and Chevy Silverado EV simply landed and ought to be prime sellers for the model — at the very least, amongst EV fashions.
Whereas we must always rejoice GM and Ford being 2nd and third within the US EV market, I additionally discover the numbers fairly disappointing. XPeng and NIO, younger EV startups in China, had 140,000+ and 160,000+ gross sales in 2023, respectively. Ford and GM had simply 72,000+ and 75,000+ within the US (we don’t but know their international numbers). And people totals have been a small share of the businesses’ total gross sales. These outcomes go away so much to be desired. Let’s hope for a lot better EV gross sales in 2024 and past!
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