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In February, the Ford Motor Firm’s namesake 165,693 autos within the U.S., over 9% greater than a 12 months in the past. The year-to-date result’s 311,325, up 7% year-over-year. However there’s even higher information for a automotive firm many stated was within the throes of an “EV slowdown.”
Ford’s all-electric car gross sales final month amounted to six,368, which is 81% greater than a 12 months in the past. The EV share out of the model’s whole quantity additionally improved to three.8%, in comparison with 2.3% a 12 months in the past.
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Ford was America’s No. 2 EV model in 2023
In 2023 Ford bought a document variety of over 72,000 all-electric autos, turning into the No.2 model within the phase after Tesla. However attaining vital progress in 2024 shall be a problem.
All three Ford EV fashions contributed to the expansion. The corporate bought 2,930 Mustang Mach-E (up 64% year-over-year), 2,578 F-150 Lightning (up 93% year-over-year), and 860 E-Transit (up 113% year-over-year.)
This can be a constructive consequence, and one which signifies that the outcomes would possibly step by step enhance within the following months as nicely.
Ford BEV gross sales final month (YoY change):
- Ford Mustang Mach-E: 2,930 (up 64%)
- Ford F-150 Lightning: 2,578 (up 93%)
- Ford E-Transit: 860 (up 113%)
- Whole: 6,368 (up 81%) and three.8% share
To this point this 12 months, Ford bought greater than 11,000 all-electric autos within the U.S., which is 26% greater than a 12 months in the past. That is about 3.5% of the model’s whole quantity.
Ford BEV gross sales year-to-date (YoY change):
- Ford Mustang Mach-E: 4,225 (down 4%)
- Ford F-150 Lightning: 4,836 (up 34%)
- Ford E-Transit: 1,981 (up 160%)
- Whole: 11,042 (up 26%) and three.5% share
For reference, in 2023, Ford bought greater than 72,000 all-electric autos within the U.S.—up 18% in comparison with 2022. It was about 3.8% of the model’s whole quantity.
Ford F-150 Lightning
The Ford F-150 Lightning famous 2,578 models, up 93% year-over-year, regardless of studies about halted car shipments of 2024 mannequin 12 months autos. We guess that Ford continues to be promoting the 2023 mannequin 12 months autos in quantity, as they obtained substantial reductions (of as much as $12,500) in February. The 2024MY has new pricing and an altered manufacturing plan with diminished quantity.
We don’t anticipate something however progress from the Ford F-150 Lightning in 2024, particularly for the reason that base in 2023 was comparatively low, particularly through the first 9 months.
Ford Mustang Mach-E
Ford Mustang Mach-E gross sales amounted to 2,930 models in February. That is 64% greater than a 12 months in the past, partially because of these worth cuts. After the primary two months of the 12 months, the result’s 4,225, 4% decrease than in 2023. So whereas February’s gross sales confirmed constructive motion, it is all nonetheless far off Ford’s onetime objective of 210,000 models by the tip of 2023.
The “gross inventory”—reported by Ford—as soon as once more decreased barely to twenty,100 models (in comparison with 21,400 a month in the past) however that is nonetheless equal to a number of months of gross sales.
Manufacturing of the Ford Mustang Mach-E in Mexico (for international markets) in February amounted to 2,315. That is one other lowest stage for the reason that manufacturing unit improve in January-February 2023. The height was 13,639 in Could 2023.
We assume that Ford produces much less as a result of it expects to promote much less. The stock within the U.S. (aka “gross inventory”) most likely ought to be diminished to a extra wholesome stage and there may be uncertainty about different international markets.
Ford E-Transit
Gross sales of the Ford E-Transit van in February amounted to 860, up 113% year-over-year. Will probably be attention-grabbing to see whether or not comparatively sturdy gross sales will proceed within the later a part of the 12 months.
The Ford E-Transit was America’s best-selling electrical van nameplate in 2023, and plainly this is not going to change in 2024.
Sadly, Ford doesn’t report gross sales of different plug-in fashions, just like the Ford Escape PHEV. Lincoln‘s PHEV gross sales weren’t revealed both. However total, it is a stable consequence for Ford’s EV sport.
We additionally anticipate further gross sales might be pushed by Ford’s newly granted entry to the Tesla Supercharger community by way of an adapter, which can seamlessly unlock 15,000 new public DC quick chargers. The remainder of the American auto trade is following Ford’s lead with related offers quickly.
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