A banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California.\u00a0<\/p>\n
Mario Tama | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
DETROIT \u2013 Ford Motor<\/a><\/span><\/span><\/span> lost its lead in electric vehicle sales to crosstown rival General Motors<\/a><\/span><\/span><\/span> during the third quarter, as the automaker’s EV growth slowed.<\/p>\n Ford on Wednesday reported<\/a> a 0.7% increase in third-quarter U.S. new vehicle sales, including a 12.2% rise in EVs compared with a year earlier.<\/p>\n The third-quarter results for Ford contributed to a 45% increase in EV sales this year through September to 67,689 units. That compares with GM on Tuesday reporting EV sales of 70,450 units through September, including a roughly 60% year-over-year rise during<\/a> the third quarter.<\/p>\n Both Ford and GM continue to trail Hyundai Motor,<\/a><\/span><\/span><\/span> including Kia, in EVs by roughly 18,000 units or more. The South Korean automaker remains a distant second in U.S. EV sales to market leader Tesla<\/a><\/span><\/span><\/span>.<\/p>\n GM has been significantly increasing its number of EV models<\/a>, including by offering eight “Ultium-based” EVs for consumers \u2014 referring to its electric vehicle architecture and battery technologies. Ford, on the other hand, only has three EVs and is focusing more on expanding hybrid models<\/a> in the short term.<\/p>\n<\/div>\n