At the New York International Auto Show, the Ford Mustang Mach-E and F-150 Lightning were showcased. Major automakers like Ford, GM, and Hyundai reported record quarterly sales of electric vehicles. GM remains the top automaker in U.S. sales, estimating a market share of 17.2%, the highest since 2015. EV sales are expected to hit a record during the third quarter, with GM estimating an industrywide sales pace of 16.7 to 16.9 million units. Ford CEO Jim Farley predicts EV sales to drop to 5% after federal incentives end. Cox Automotive forecasts EV sales to reach 410,000 in the third quarter, a record 10% market share. Hyundai is reducing prices for its Ioniq 5 EV and offering cash incentives to match federal credits. GM and Ford are extending the use of a $7,500 U.S. tax credit on EV leases.

Read more at CNBC: Record EV sales lead GM, Ford to 8% increases in Q3 U.S. auto sales