Ford says it expects to gain 11% of the US market for EVs, hybrids and plug-in hybrids by the end of this year.
Ford plans to surpass Toyota and become the leader of the US hybrid market, which would be a record for the second-largest U.S. automaker. The automaker’s current presence in the US hybrid market is 5.2%, while Toyota held 70.4% share from January to October this year. Another Ford’s US rival, GM, accounts for 12.5% of the market.
Last month Toyota’s market share has dropped to 60.9%, while Ford’s increased to 11.8% share, due to its improved fuel economy and business strategy. Ford’s new C-Max lineup of hybrid and plug-in hybrid crossovers are quite fierce competitors for Toyota’s Prius.
“Toyota has been a strong reputable player for so long,” Michael O’Brien, Ford’s electrification marketing manager said on Thursday. “We’re not first to market, but in many attributes we believe (Ford’s) products are best to market.”
This month so far Ford has sold more than 6,000 EVs, which is a record for the automaker. From all EVs sold in the US, 4,400 of them came from its new C-Max hybrid and plug-in hybrid. The Fusion hybrid is among the automaker’s fastest-turning nameplates in showrooms.