DETROIT – Ford Motor stated Friday that it has achieved CEO Jim Farley’s objective of turning into the second best-selling automaker of electrical autos within the U.S.

The Detroit automaker, citing third-party trade information, narrowly topped Hyundai/Kia to hit the objective. Tesla stays the trade chief by a large margin, however has been shedding market share as extra EVs enter the market.

Ford stated its share of the electrical automobile phase was 7.4% by November, up from 5.7% a yr earlier.

The corporate reported gross sales of 53,752 all-electric autos within the U.S. by November. Tesla, which doesn’t escape home outcomes, reported international deliveries of greater than 908,000 EVs by the third quarter.

Ford topping Hyundai comes after the South Korean automaker misplaced incentives that gave consumers of its EVs tax credit of as much as $7,500 below the Biden administration’s Inflation Discount Act, which took impact in August. Automobiles comparable to Ford’s EVs which can be produced in North America nonetheless qualify for the credit score.

Hyundai didn’t instantly reply for remark. Hyundai Motor Co. CEO Jaehoon “Jay” Chang, in an unique interview with CNBC, described the lack of incentives as regarding and a “very difficult challenge.”

Motor Intelligence confirmed Ford topped Hyundai in EV gross sales by November. The automotive information agency stories Hyundai bought 52,061 EVs by November – 1,691 items lower than Ford.

Tesla has long-dominated U.S. EV gross sales. However with extra EVs turning into obtainable, S&P World Mobility reported that its market share of recent registered electrical autos within the U.S. stood at 65% by the third quarter, down from 71% final yr and 79% in 2020.

Holding onto the No. 2 spot − a objective Farley beforehand introduced Ford would obtain by 2023 − could show difficult. Common Motors CEO Mary Barra has stated the corporate plans to prime Tesla in EV gross sales by mid-decade, as America’s largest automaker plans to considerably step up EV manufacturing within the coming years.

GM doesn’t report month-to-month gross sales. By the third quarter this yr, it reported gross sales of lower than 23,000 EVs.

Ford reported its EV gross sales as a part of its November outcomes, which total had been down 7.8% from a yr earlier. The corporate reported U.S. automobile gross sales final month of 146,364 items – its second-worst total complete since June. Its EV gross sales had been up from a yr in the past, when gross sales quantity was very restricted.

Ford, citing retail orders, stated demand for its autos stays sturdy. It didn’t give a cause for the November gross sales declines, however the firm and different automakers proceed to battle by provide chain issues.

Gross sales of Ford’s worthwhile F-Sequence pickups had been solely 55,169 in November – off 8.7% from a yr earlier. They’re now off 12.8% for the yr following reported elements issues with the autos.

Gross sales of all Ford’s autos, together with its luxurious Lincoln model, totaled lower than 1.7 million items by November, a 2.7% lower from a yr earlier.

– CNBC’s Phil LeBeau contributed to this report.