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Ford triples its electric car sales despite falling overall sales


Photo of an electric Ford pickup truck at an assembly plant in the US.

image: Ford

Ford continues to hold its position as America’s second-best-selling electric vehicle maker after electric vehicle sales tripled, Porsche is being sued for $300 million for claiming “withheld inventory” from a dealer in Florida, and U.S. public transit ridership is getting back on track after the pandemic. All this and more in Morning shift for wednesday, October 5th Year 2022.

First gear: Ford EV sales triple in September

It’s sales figures season again, and then Tesla posted the results that wasn’t quite what was expected and GM sold more cars last quarterNow it’s Ford’s turn to share his secrets. And it’s a mixed bag for the Blue Oval, like Bloomberg report Ford’s electric vehicle sales have tripled, but overall, the company has shipped fewer vehicles than it did in the same period last year.

Ford has reported that electric vehicle sales include Mustang Mach-E, Ford F-150 Lightning and Electronic vans increased 197% in September after it increased by 4,691 units. This represents 3% of the company’s revenue for the month, down 8.9% from the same period last year. Bloomberg report:

In the latest vote count, Ford is beating GM in the electric car race. The Mustang Mach-E has sold more than 28,000 units as of September 30, outselling the Chevy Bolt and the small number of Hummer and Cadillac EVs this year by about 5,000. Add to that the 8,760 electric Lightning pickups Ford has sold since June, and the automaker is firmly in second place in the EV race, behind market leader Tesla Inc.

Ford’s gasoline-electric hybrid models, led by the F-150 hybrid and the Maverick compact pickup, are also in high demand, with the automaker’s hybrid sales up 22.6 percent this year. Ford said it received 86,000 orders for the Maverick last month when the order banks were only open for a week, selling off new trucks for the 2023 model year.

Despite challenges in September, Bloomberg reports that Ford’s sales for the third quarter of 2022 were up 16 percent. It added that during the period, inventory of Ford’s new Lightning electric pickup truck “stays an average of only eight days on dealer lots” before being shipped off to a new buyer.

Lightning sales will be the one to watch in coming months, as Ford recently raise prices for electric trucks up to $8,500.

2nd Gear: Porsche Sued by Dealer for ‘Withholding Inventory’

The more I read about car dealerships in America, it’s more like a complicated scam that you have to go with. But now, all the hopping has become too much for a Porsche dealer in Florida, and they’ve sued the German automaker for $300 million.

Based on Automotive NewsThe Collection in Coral Gables, Florida, is suing Porsche for $300 millionclaims that the German company “is holding back inventory” because “the dealer has not yet built a new independent store.” Automotive News report:

The Collection, a multi-brand dealership in Coral Gables, Fla., alleges that Porsche is violating state dealership franchising laws by restricting the allocation of ‘shared vehicles’ after the retailer refused to build an exclusive brand store.

“Porsche said apartment cars, which typically make up no more than 20 percent of available inventory, are delivered to dealers at the factory’s discretion. To qualify, dealers must operate exclusive Porsche stores and meet facility design standards, the company said.

“Sean Burstyn, the Miami attorney representing The Collection, said Florida franchise law prohibits an automaker from requiring dealers to set up exclusive facilities.”

Collections marketing cars to brands such as Porsche, Ferrari, and Aston Martin at dealerships in Florida, and has so far refused to open an independent Porsche store.

So, Automotive News reports that a Porsche insider said it would be “unfair” to give Florida dealers access to bonuses like cars while nearly 200 other dealers have followed through on their request and built separate Porsche dealerships.

Equipment 3: Talks between the US and South Korea continue on electric vehicle discounts

After the Inflation Reduction Act was signed into law in August, you might think the electric vehicle tax cut saga was coming to an end. But the provisions of the law About where vehicles must be built to qualify for a tax break of up to $7,500 has opened up an entirely different window of opportunity.

Under the new law, electric vehicles must be assembled in the United States to be eligible for tax breaks, and future regulations could also supplement regulations around battery sourcing. Because of these strict new rules, only 20 cars are eligible for tax reduction. The US-centric act has angered carmakers like South Korea’s Hyundai and Kia, both of which have recently launched some very compelling EV propositions in the market.

After expressing concern that the new tax relief would affect automakers from their home countries, Reuters report that South Korean President Yoon Suk-Yeol had called for an amendment to the ruling. Reuters reports:

President Joe Biden has expressed willingness to continue negotiations with South Korea over recent US legislation denying subsidies to most foreign electric vehicle (EV) manufacturers, an official from Yoon’s office said. know on Wednesday.

Biden offered the assurance in a letter to South Korean President Yoon Suk-yeol, who asked the US President for help last month to assuage Seoul’s concerns that the new US regulations will cause damage. damage to Korean automakers.

4th gear: Sixt buys 100,000 EVs from BYD

After the rental company Hertz announced it had more than 100,000 Teslas to its fleet, then 65,000 Polestar EVs and finally 175,000 electric cars GM For its fleet, it seems only a matter of time before other rental companies jump into the electric car race.

The current, Automotive News report that Sixt is in line to buy 100,000 electric cars from Chinese carmaker BYD to deploy to its rental fleet in Europe in the coming years. Based on Automotive News:

Sixt will buy about 100,000 electric vehicles from China’s BYD under the cooperation agreement signed by the two companies.

In the first phase of the deal, Sixt will order several thousand all-electric vehicles from BYD, the first of which will be delivered to Sixt customers in Europe in the fourth quarter, the German car rental company said. know in a statement.

Sixt then agreed to buy about 100,000 more EVs by 2028, the rental company added.

The first BYD car expected to arrive with the Sixt fleets in France, Germany, the Netherlands and Great Britain. The first model to be offered by Sixt will be the BYD Atto, a compact electric crossover.

5th gear: US public transit train is about to return to the track

Two years ago, public transport was in dire straits, with motorists falling off cliffs as people were told to stay home and avoid crowded spaces to help cut the spread of Covid. -19. But now, it’s a different story when the number of passengers on public transport in the US. is increasing again.

According to Smart Traffic, The Public Transportation Association of America’s latest Public Driving Trends Dashboard shows that a return to offices and schools has fueled a metric increase in the number of public transit riders. add. In fact, the report shows passenger numbers have now reached “more than 70% of pre-pandemic levels”. Smart Traffic Report:

The Covid-19 pandemic has had an immediate and significant impact on public transport ridership. The drop in boats began in mid-March 2020, coinciding with stay-at-home orders in many cities and states around the country.

Ridership has dropped to lows of 10 to 40% of pre-pandemic levels in many cities. After falling to 20% of pre-pandemic levels in April 2020, ridership has recovered to more than 70% of pre-pandemic levels. This increase in passenger numbers reflects transportation companies adapting to the rapidly changing needs of their communities while providing safe, reliable service.

There are still ways to go back to the way it was. But, it is possible that with a little investment here and there in providing high-volume public transit across the United States, passenger numbers could surpass 2019 levels.

Reverse: F1 Is Still learning from its mistakes

Neutral: What Should Ford Electrify Next?

Ford currently has a pretty nice range of electric vehicles on the market, including pickup trucks, SUVs, and a pretty excellent van. But what do you want it electrified to be next? Do you want it to try with an EV hatchback, or maybe a sedan? What about a proper electric muscle car, or even a Bronco EV?

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