Ford to outsell GM in EVS
Ford Motor Co. is expected to outsell its crosstown rival General Motor in electric vehicle sales in the U.S. this year, Morgan Stanley analyst Adam Jonas said in a note to investors.
The note solidifies the narrative of Ford CEO Jim Farley that the company planned to go all-in on electric and pursue market share now dominated by Tesla.
Looking at the most current sales data of the Mustang Mach-e, which sold to 21,703 buyers through October, and the Chevy Bolt, which sold to 24,810 buyers, Ford is expected to trounce GM in the final two months because of the Bolt production halt.
GM has recalled more than 141,000 Bolt vehicles for potential battery fire
risk.
Jonas is careful to note that he’s assuming the Mach-e will continue deliveries and points out that GM is planning to begin delivery of the $112,595 GMC Hummer EV by the end of 2021.
Morgan Stanley forecasts Ford’s battery-electric vehicle sales to reach 150,000 vehicles in fiscal year 2022 or 3.5% of its volume; 473,000 by fiscal year 2025 or 11.5% of its volume, and 1.225 million vehicles by fiscal year 2030 or 33.7% of its volume.
“We forecast Ford’s global passenger vehicle BEV volume to surpass GM’S in FY22, while trailing GM modestly longer term,” Jonas wrote.
Jim Cain, GM spokesperson, told the Free Press, “This isn’t a short-term gambit. We are out to change the world, we are investing $35 billion to make it happen, and everyone who charts a similar course is making a difference. But make no mistake about it: Our goal
is to lead.”