Ford Finds its Fortunes in the Hybrid Market
The vast expansion of Ford’s (NYSE:F) hybrid lineup about a year ago — when it introduced three new hybrids and two plug-in hybrids — was a shot across the bow of the industry — notably Toyota (NYSE:TM), the reigning leader of the hybrid market — that Ford was seriously committing to the segment, which has seen substantial growth over the last few years.
However, Ford tripped up — albeit briefly — more recently, when it turned out that the EPA ratings on its C-Max hybrid were not exactly aligning with drivers’ real world experience. While the C-Max was advertised as nailing an impressive 47 miles per gallon across the board, on real roads, drivers were reporting figures closer to 40. Ultimately, Ford bit the proverbial bullet and lowered its rating on the car.
But that wasn’t before Ford managed to lift its share of the electric and hybrid market from 3 percent to 15 percent, Detroit News reports, adding that, “Ford also has been able to steal customers from its chief competitor, Toyota, which it has brazenly viewed as an equal competitor since before any of Ford’s new hybrid vehicles hit dealer lots.”