Ford's (F) EV Mustang Mach E Was Third Best Selling BEV in US Behind Tesla - MS

June 30, 2022 6:47 AM EDT
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Morgan Stanley analyst Adam Jonas shared key battery electric vehicles (BEV) highlights for the month of May 2022.

Global BEV sales were up 64% YoY and up 30% on a MoM basis. Tesla once again topped the ranking with roughly 57,000 sales, closely followed by China-based BYD with 54,000 sales.

General Motors (NYSE: GM) managed to sell over 42,000 BEVs, although the vast majority of these sales came through the company’s joint venture in China.

SAIC-GM-Wuling’s Wuling HongGuang Mini was the top seller with around 34,000 sales, followed by Tesla’s (NASDAQ: TSLA) Models Y and 3 with 28,000 and 23,000 sales, respectively.

Ford (NYSE: F) made great progress thanks to its Mustang Mach E, which sold in 7,860 units to become the third highest-selling BEC model in the US behind Models Y and 3.

On the other hand, GM sold “only” 1,831 cars in the US.

As far as Tesla is concerned, the biggest EV company in the world saw its global BEV market share rise to 11% from 10% in April. Tesla BEV sales were down 5% YoY but up significantly compared to April - 57,472 vs 39,228, respectively.

“We see potential for slower growth and higher rates as headwinds for EV efforts by startups and legacy players. Tesla’s biggest risk? China and itself,” Jonas commented in a note.

By Senad Karaahmetovic

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