Hyundai is expected to outsell Ford for the first time in the third quarter with 511,421 units versus Ford's 504,172, making Hyundai the third best-selling automaker in the U.S. behind GM and Toyota. Detroit automakers Ford and GM are hampered by limited hybrid vehicle offerings as the hybrid market grows amid high gas prices, while Toyota narrows its sales gap with GM and could overtake it for annual sales leadership.
Hyundai Motor is expected to outsell Ford in third-quarter U.S. sales for the first time, with forecasts showing Hyundai gaining 6.5% year-over-year while Ford declines 7.1%, making Hyundai the third-largest automaker behind GM and Toyota. Detroit automakers are hampered by limited hybrid offerings as the market shifts toward fuel-efficient vehicles amid high gas prices and production challenges.
Volkswagen's shares fell after issuing a profit warning that cut its operating margin forecast from 4–5.5% to 1%, citing an impairment on its Porsche holding, market deterioration in China, and restructuring costs. The company was simultaneously removed from Europe's Euro Stoxx 50 blue-chip index, reflecting broader struggles in the automotive sector with EV transition and competition.