The U.S. auto industry is falling behind in the global market after recording $50 billion in losses from a failed shift to electric vehicles, The Verge reported on Thursday. Ford posted a $19.5 billion loss, General Motors (GM) a $7.6 billion loss and Stellantis a $26.6 billion loss, acknowledging weak performance in the EV market.

The Verge said the U.S. failure in the EV market was not due to consumer resistance, but because automakers did not seriously consider the transition. It said the situation worsened after President Donald Trump rolled back EV tax credits and eased emissions regulations. GM's EV sales plunged 43 percent after the tax credits ended.

By contrast, the global EV market is growing rapidly. Worldwide EV sales rose to 20.7 million vehicles in 2025.

Looking at the share of EVs in total auto sales by country, The Verge said South Korea was at 20 percent, China 50 percent, Denmark 68 percent, Sweden 65 percent and Norway 96 percent, while EV sales in the United States were about 10 percent. It added that China invested $150 billion to $250 billion to foster its EV industry and now dominates the global auto market excluding the United States.

California is pursuing its own emissions regulations, leaving automakers in a situation where they must develop internal combustion vehicles, hybrids and EVs at the same time. Ford, GM and Stellantis have not given up on EV development, but The Verge said the chances of the United States regaining the lead in the global EV market are growing increasingly slim.