Tesla Is Facing Strong Competition With Ford And GM Ramping Up EV Sales ...Middle East

Economy by : (OILPRICE) -
Someone should put Elon Musk on notice: the legacy automakers have officially entered the EV sales fray. And domestic U.S. automakers have officially hit the ground running. Ford announced on Thursday that U.S. sales were up 4.1% to 161,725 units in May, while YTD sales were up 11.3%. The "everything bubble" created by Central Banks helped truck sales rise 11.6% over the same period and SUV sales to rise 48.6%. These numbers were despite the auto industry continuing to grapple with a semiconductor shortage - one that had even left Ford trucks stranded…

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