Motor City Meltdown: Ford Slips to 4th in U.S. EV Sales Despite $30B Investment

In the third quarter of 2023, Ford dropped one place — to fourth — in the U.S. electric vehicle sales charts despite its $30 billion investment in electric vehicles, with the company, losing over $100,000 on each EV sold. Ford’s disappointing performance is highlighted by the fact that mega-rival General Motors has overtaken it in the electric vehicle U.S. market. With initially popular EV models like the F-150 Lightning pickup truck and the Mustang Mach-E, Ford was expected to perform better. Meanwhile, GM’s CEO, Mary Barra, has set her sights on surpassing Tesla.