Why Americans Are Buying More Electric Cars From General Motors Than Ford

Surprising as it may seem, electric cars have been in existence for over a century. However, in recent years, the popularity of electric cars has risen exponentially across the world. From extremely low maintenance costs than an internal combustion vehicle, to the quiet engines with significantly low carbon footprint, EVs made up nearly 4.2% of global vehicle sales in 2020 and show no signs of slowing down.

In the United States, Tesla easily dominates the EV market accounting for nearly 65% of total sales in 2022. Other automakers like Ford, Hyundai and General Motors, are fast to react to the evolving automobile market. Ford sold over sixty thousand electric vehicles in 2022 claiming the second position. Recent trends in 2023, however, indicate they’ve slipped down to the third. GM sold around 10,000 more electric vehicles than its segment rival Ford in the first quarter of 2023. It has become the United States' second-best-selling EV manufacturer.

Ford, on the other hand, has a reputation for being one of the more reliable car manufacturers. The company has introduced electric cars to its lineup arguably later than most of its primary competitors. However, their cutting-edge design and technology gives them a slight margin over the rivals. In 2022, Ford announced that it was rearranging itself and would henceforth be reporting separate results for its traditional car business, its commercial business, and its EV business. Those segments are now referred to as Ford Blue, Ford Pro, and Ford Model e. This implies that as far as adaptability is concerned, GM has an edge but barely. And the major reason driving that edge is the Chevrolet Bolt, an unparalleled electric car bargain.

It is interesting to note that General Motors has a more diverse range of electric cars available than Ford. In addition to its best-selling EV, the Chevy Bolt, the company also offers the Chevy Volt plug-in hybrid and the Cadillac CT6 plug-in hybrid. The company also launched its new electric SUV, which is basically a redesigned Bolt EV, the Chevy Bolt EUV in 2022. Their quick and innovative adaptation to the EV segment seems to be paying off now. Both the companies have utilized their overall profits and reinvested them into their electric endeavors.

Ford features four electric cars in its lineup as well. Of those, the F-150 Lightnings and E-Transit vans have soared in sales, but one car leads the sales from the front — the Ford Mustang Mach-E. While the Mach-E is an awesome electric car, it does not seem to be able to compete with General Motors' front-runner, the Bolt EV. However, the speculation is based on just the Q1 trends of 2023, and the remainder of the year might just change that.

Both Ford and GM are fast developing their EV supply chains with battery manufacturing facilities and assembly plants. Despite this, they're nowhere close to Tesla. The Elon Musk-led company delivered over 400,000 EVs worldwide in the first quarter of 2023. General Motors, in comparison, reported sales of over 20,000 electric vehicles in the US, a vast majority of them Chevrolet Bolts. In the same period, Ford sold a little over 10,000 EVs with a fair mix of all its electric models.

The numbers reveal that General Motors sold more electric cars off late than Ford, and the company has the remarkable success of Bolt EV to thank for that. Ford, in close pursuit, has made strides in the electric car market, as it followed Tesla last year to close the year 2022 as the second-biggest EV manufacturer. The Mustang Mach-E has been a huge success without doubt. But if the Q1 of 2023 is an indicator to go by, Ford might need to up its innovation and promotion efforts if it wants to catch up to General Motors. Tesla dominates the segment but not without threats. A clear second runner will surely challenge the EV-pioneer in this decade. It is safe to conclude that the year 2023 will prove to be a decider in tracking the next few years in the all-electric segment.