Ford U.S. EV Sales Surged 81% In February 2024

All three fashions—F-150 Lightning, Mach-E and E-Transit—famous strong progress.

In February, the Ford Motor Firm’s namesake 165,693 automobiles within the U.S., over 9% greater than a yr in the past. The year-to-date result’s 311,325, up 7% year-over-year. However there’s even higher information for a automobile 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 yr in the past. The EV share out of the model’s whole quantity additionally improved to three.8%, in comparison with 2.3% a yr in the past.

All three Ford EV fashions contributed to the expansion. The corporate offered 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 final result, and one which signifies that the outcomes may progressively enhance within the following months as effectively.

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%)
• Complete: 6,368 (up 81%) and three.8% share

To this point this yr, Ford offered greater than 11,000 all-electric automobiles within the U.S., which is 26% greater than a yr 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%)
• Complete: 11,042 (up 26%) and three.5% share

For reference, in 2023, Ford offered greater than 72,000 all-electric automobiles 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 reviews about halted vehicle shipments of 2024 model year vehicles. We guess that Ford continues to be promoting the 2023 mannequin yr automobiles in quantity, as they acquired substantial discounts (of up to $12,500) in February. The 2024MY has new pricing and an altered production plan with reduced volume.

We don’t anticipate something however progress from the Ford F-150 Lightning in 2024, particularly because the base in 2023 was comparatively low, particularly in the course of 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 yr in the past, partially due to these value cuts. After the primary two months of the yr, 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 aim of 210,000 models by the top 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 world markets) in February amounted to 2,315. That is one other lowest stage because the manufacturing unit improve in January-February 2023. The height was 13,639 in Might 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”) in all probability must be lowered to a extra wholesome stage and there could be uncertainty about different world 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 fascinating to see whether or not comparatively robust gross sales will proceed within the later a part of the yr.

The Ford E-Transit was America’s best-selling electrical van nameplate in 2023, and plainly this won’t 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 general, it is a strong final result for Ford’s EV recreation.

We additionally anticipate further gross sales may very well 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 business is following Ford’s lead with related offers quickly.