Ford Motor lost its lead in electric vehicle sales to crosstown rival General Motors during the third quarter, as the automaker’s EV growth slowed.

Shares of Ford Motor Co. lost 1% in morning trading after the automaker said third-quarter U.S. vehicles sales were up 1% from a year ago, including a 12% increase in sales of electric vehicles. The results followed those by rival General Motors Co.

Key Takeaways General Motors reported third-quarter EV sales soared 60% year-over-year, but they were up just 12% for Ford Motor.GM got a boost from demand for its new Equinox EV, which sold nearly 10,

Ford sold 504,039 vehicles in the July-through-September quarter, up 0.7%, compared to last year's 500,504 vehicles. Hybrid sales grew by 38%, and EVs were up 12%, while gas- and diesel-fueled vehicles that account for 86% of the automaker's sales fell by 2.

Ford Motor Company (NYSE:F) shares are trading lower on Wednesday. Ford Motor reported a 4% increase in U.S. retail sales for the third quarter, with overall sales up nearly 1%, in contrast to a 2% decline for the total industry.

Ford said it remains the second best-selling EV brand in the US behind Tesla, but is it really? Ford was topped by GM in Q3 electric vehicle sales as the race intensifies into the end of the year. On Monday,