Although U.S. sales declined for most automakers because of weather and parts disruptions, a growing number of electric vehicles reaching dealerships has begun helping the auto industry recover from the coronavirus pandemic.
EV sales rose 34 percent last month, according to Morgan Stanley, while overall sales for the seven automakers that reported February results declined 9.3 percent, according to the Automotive News Research & Data Center. The investment firm noted that battery- electrics accounted for 2.6 percent of the market last month compared with 1.8 percent a year earlier.
The growth is driven by automakers not named Tesla. Morgan Stanley said the Elon Musk-led company's share of the U.S. electric vehicle market fell 12 percentage points year over year to 69 percent in February, virtually all a result of the ramp-up of Ford Motor Co.'s new electric crossover, the Mustang Mach-E.
Ford said it sold 3,739 of the Mach-E …