Ford v. Hyundai: Henry Ford Must Be Turning In His Grave After New Report

South Korea's Hyundai Motor Group is on track to surpass 123-year-old Ford Motor in third-quarter US deliveries (a first ever) as consumers shift toward smaller, more fuel-efficient vehicles. The shift comes as Ford is plagued by the fallout from its costly EV strategy and production constraints affecting its light- or medium-duty truck unit. 

Henry Ford must be turning in his grave.

Cox Automotive's third-quarter sales forecast, released earlier this morning, expects Hyundai's US deliveries to rise 4.4% quarter over quarter to 511,421 vehicles, while Ford's fall 7.7% to 504,172. The estimates, detailed on slide 27, put Hyundai on track to outsell Ford in the US for the first time.

Toyota, Hyundai and Kia are benefiting from US consumers seeking competitively priced hybrid lineups. Toyota, Hyundai and Kia are benefiting from competitively priced hybrid lineups. A record one in six new vehicles sold in the US in the second quarter was a hybrid, according to the report. 

"This is a moment where consumers are trying to find options that offer more fuel efficiency," Stephanie Valdez Streaty, director of industry insights at Cox, told Bloomberg. "Hyundai and Kia are starting to have those options available and you can see they're gaining share because of that."

Bloomberg noted that Ford faced mounting headwinds. Fires at a key supplier plant last year constrained components to its top-selling F-Series trucks, while the phaseout of the Escape compact SUV has reduced volume. 

The report showed the auto market is stable, with higher-income buyers supporting overall volumes, while cash-strapped households are rewarding automakers that offer hybrids.

Cox Chief Economist Jeremy Robb highlighted the vehicle segments driving sales this year:

Vehicle supplies:

New-vehicle pricing at record highs:

With the national average price of regular gas at $4.48 per gallon and diesel at $6.51 late in the summer, and fuel prices elevated since early March, new EV sales have remained muted. However, used EV sales have trended higher.

Stock Performance: Ford v. Hyundai

Ford should've focused on hybrids instead of making an idiotic mad dash into EVs. And just imagine what happens when China's BYD floods North America with cheap EVs and hybrids...