Tesla Is No. 1, But This Legacy Automaker Rebounds To Hit No. 2 For EV SUV Sales
Portfolio Pulse from Chris Katje
Tesla's Model Y continues to lead the EV SUV market, but Ford's Mustang Mach-E has seen a strong rebound in sales, ranking second in August. Ford's sales were up 61.3% YoY with 5,033 units sold in August. However, year-to-date sales are down 10.7% YoY. Ford's F-150 Lightning sales dropped by 57.1% in August due to a factory shutdown. Ford's Q2 revenue for its EV segment was $1.8 billion, up 39% YoY. Ford's shares are down 2.03% to $11.84.
September 06, 2023 | 5:19 pm
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POSITIVE IMPACT
Tesla's Model Y continues to dominate the EV SUV market. The company's Cybertruck is also nearing its launch date.
Tesla's continued dominance in the EV SUV market and the upcoming launch of the Cybertruck are positive indicators for the company's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ford's Mustang Mach-E sales rebounded in August, ranking second in the EV SUV market. However, the company's F-150 Lightning sales dropped due to a factory shutdown. Ford's shares are down 2.03%.
Despite the rebound in Mustang Mach-E sales, the drop in F-150 Lightning sales and the decrease in Ford's share price indicate potential challenges for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100