Hyundai Projected to Outsell Ford in U.S. Quarterly Sales

Cox Automotive forecasts that Hyundai Motor Company will outsell Ford Motor Company in U.S. quarterly sales for the first time in history. Hyundai is projected to report approximately 511,421 units for the third quarter, while Ford is predicted to fall to 504,172 units. This shift would place Hyundai as the third best-selling automaker in the U.S., trailing only General Motors and Toyota Motor.

Analysts attribute the trend to a consumer shift toward fuel-efficient hybrid vehicles amid high gas prices linked to the Iran war. While Hyundai and Kia have expanded their hybrid lineups, Detroit automakers have struggled to provide similar options. Ford's decline is further attributed to the discontinuation of the Escape SUV, a costly electric vehicle strategy, and production constraints for F-Series pickups following fires at a key aluminum supplier.

General Motors and Ford are seeing the steepest market-share declines among 13 tracked automakers, with the combined share of the Detroit Three expected to hit a record low of approximately 36%. General Motors is projected to see a 5.2% to 6.2% sales decline this quarter. In contrast, Toyota and Honda are seeing gains due to their hybrid offerings. Ford has contested the quarterly projections, stating that it has outsold the two South Korean companies combined year-to-date by both volume and revenue.