Key Points
In the first quarter of 2026, Toyota surpassed Ford in electric vehicle (EV) sales, selling over 10,000 EVs, a 79% year-over-year increase, while Ford sold only 6,860 EVs, marking a 70% decline from the previous year. This shift comes as Ford announced a pivot away from its initial EV strategy, expecting a near $20 billion charge by the end of 2025.
During the same period, U.S. EV sales fell by 27%, with EV market share stagnant at 5.8%. The market leader, Tesla, reclaimed significant share, accounting for 54% of total U.S. EV sales. Competition intensified as General Motors and Hyundai outsold Ford’s EVs, with GM’s Cadillac and Chevrolet models selling 9,551 and 13,359 units, respectively, while Hyundai sold 12,662 EVs.
Ford plans to focus on more affordable EVs and hybrids, delaying high-end projects until 2028. The company’s new mid-size electric pickup is expected to launch next year on its Universal EV Platform.
