Once pretty much the entire electric vehicle market in the US, Tesla now controls less than half of it for the first time ever, according to new data from Cox Automotive. While Tesla’s US sales declined about 6% in Q2 compared with a year earlier, according to Cox, overall electric vehicle sales climbed 11%, as buyers turn to the company’s now numerous competitors.
The EV business has marked a long stretch of losing for Ford, and today the automaker announced it will take $19.5 billion in charges tied, for the most part, to its EV division.
Ford said it’s launching a battery energy storage business, leveraging battery plants in Kentucky and Michigan to “provide solutions for energy infrastructure and growing data center demand.”
According to Ford, the changes will drive Ford’s electrified division to profitability by 2029. The company will stop making its electric F-150, the Lightning, and instead shift to an “extended-range electric vehicle” that includes a gas-powered generator.
The Detroit automaker also raised its adjusted earnings before interest and taxes outlook to “about $7 billion” from a range of $6 billion to $6.5 billion.
Ford’s write down is one of the largest taken by a company, as legacy automakers scale back on EVs, giving EV-only automakers a market share boost.
Earlier this year, General Motors said it plans to end support for in-vehicle phone projection systems like Apple CarPlay and Android Auto on all of its vehicles (a big expansion of the move it announced for its EVs back in 2023).
Now, the automaker appears to be stocking its replacement system with native apps to fill the void. On Monday, GM announced it was rolling out Apple Music to select 2025 Chevrolet and Cadillac models.
Losing CarPlay is a sore subject for many drivers: 39% of respondents to an American Trucks survey this month said a lack of the system (or Android Auto) is a “deal-breaker” when it comes to buying a new vehicle.
Many automakers appear willing to risk alienating those potential customers in exchange for access to lucrative data. Others, including Tesla, are working to allow CarPlay to boost sagging sales, according to reporting by Bloomberg.
Losing CarPlay is a sore subject for many drivers: 39% of respondents to an American Trucks survey this month said a lack of the system (or Android Auto) is a “deal-breaker” when it comes to buying a new vehicle.
Many automakers appear willing to risk alienating those potential customers in exchange for access to lucrative data. Others, including Tesla, are working to allow CarPlay to boost sagging sales, according to reporting by Bloomberg.
