Ford's Dominance in Commercial Vehicles Can't Last Forever

Tesla is widely known as the largest manufacturer of electric vehicles (EVs) in America, selling 228,700 EVs through the second quarter of 2022. But it might surprise you to learn that Ford Motor Company (NYSE: F) is second. That sounds impressive until you learn that the Dearborn-based automaker sold 22,979 EVs through 2022's Q2 compared to Tesla's 259,790 units.

But Ford's number outshines General Motors' (NYSE: GM) 7,674 units, Nissan Motor Company's (OTC: NSANY) 7,622 units, Rivian Automotive's (NASDAQ: RIVN) 5,691 units, Polestar's (NASDAQ: PSNY) 3,696 units, and Lucid Group's (NASDAQ: LCID) 942 units during the same period, according to Cox Automotive. But the Koreans are coming up fast, with Kia Motors selling 17,623 units and Hyundai Motors Corporation (OTC: HYMTF) selling 15,857 units. So far, the bulk of Ford's EV sales come from the Mustang Mach-E, accounting for 17,675 units of 22,979 vehicles. 

Ford's dominance of the EV market includes electric vans, where Ford currently holds a 95% market share, selling 3,008 E-Transit electric full-size vans in the first half of 2022. But investors shouldn't expect that massive market share to continue, as the market for commercial vans is about to get more competitive.

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Source Fool.com