FYI: Ford’s all-electric vehicle sales have surged in July, demonstrating an impressive growth trend that’s solidified over the past six months. The automaker’s EVs like the Mustang Mach-E and F-150 Lightning are not only gaining traction but also helping reshape Ford’s market share.
Ford’s Electric Vehicle Sales Skyrocket in July
In a notable shift towards electrification, Ford has reported a significant rise in their all-electric vehicle (EV) sales in the U.S. for July, showcasing a 31% increase year-over-year with 8,242 units delivered. This marks the sixth consecutive month of year-over-year growth.
While Ford’s overall sales volume slightly declined by 0.8%, settling at 165,621 units, the surge in EV sales meant that the electric market share of Ford’s total sales improved to 5%, a notable rise from 3.8% a year ago. This translates to 1 in 20 new Ford vehicles sold in July being all-electric.
Consistent Growth in EV Sales
During the first seven months of 2024, Ford has crossed the 52,000 mark in EV sales in the U.S., exhibiting an impressive growth of nearly 64% compared to the same period last year. With this data, Ford’s EV market share stands ahead of the industry average.
Despite the rapid growth in EVs, Ford’s hybrid vehicle sales saw an even sharper rise, skyrocketing 47% year-over-year to 16,825 units, double the market size of their EV segment.
Top Performers in Ford’s EV Line-Up
All three of Ford’s electric models—the Ford Mustang Mach-E, Ford F-150 Lightning, and Ford E-Transit—contributed substantially to the growth in July. The Mach-E retained its title as the best-seller, with 4,592 units sold, marking a 17% increase year-over-year. The F-150 Lightning emerged as the star performer, with sales spiking 82% to 2,822 units from its low base last year. The E-Transit van also saw a modest rise, improving by 5% to 828 units.
Monthly BEV Sales Breakdown
- Ford Mustang Mach-E: 4,592 units (up 17%)
- Ford F-150 Lightning: 2,822 units (up 82%)
- Ford E-Transit: 828 units (up 5%)
- Total July Sales: 8,242 units (up 31%) | Market Share: 5%
Year-to-Date BEV Sales Breakdown
- Ford Mustang Mach-E: 26,826 units (up 49%)
- Ford F-150 Lightning: 18,467 units (up 79%)
- Ford E-Transit: 7,129 units (up 93%)
- Total 2024 YTD Sales: 52,422 units (up 64%) | Market Share: 4.5%
This yearly progress underlines Ford’s achievements, as they sold over 72,000 all-electric vehicles in the U.S. in 2023—a respectable 18% increase from 2022.
Ford F-150 Lightning’s Stellar Performance
The Ford F-150 Lightning continued its expansion by recording an 82% year-over-year increase in July, with 2,822 units sold. Despite stable sales volumes throughout the year, the real challenge lies ahead. Ford aims to match or outpace the fourth quarter’s performance from last year, where nearly 4,000 units were sold monthly. The competitive landscape is heating up with the introduction of Tesla Cybertruck, which poses a significant challenge for Ford’s electric truck dominance.
Ford Mustang Mach-E Steady Sales
Despite a 63% drop in production in July from its plant in Mexico, the Ford Mustang Mach-E saw stable sales with 4,592 units delivered, a rise of 17% year-over-year. The overall stock decreased to 16,400 units, suggesting a balanced alignment between production and market demand.
Ford E-Transit’s Modest Gains
The E-Transit electric van also fared well, with sales increasing by 5% year-over-year, reaching 828 units in July. Year-to-date, Ford sold 7,129 E-Transit units, a 93% growth compared to the previous year.
Conclusion
Ford’s commitment to electrification is clearly paying dividends, as evidenced by their robust sales figures and significant market share growth in the EV sector. However, the landscape is set to become even more competitive, particularly in the electric truck market. As the year progresses, it will be intriguing to see how Ford navigates these challenges and continues to drive innovation in the EV space.
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William Kouch, Editor of Automotive.fyi
