FORD U.S. EV SALES IMPROVED IN JUNE AND Q2 2024
It was the second best quarter, although not without challenges.
Ford Motor Company (including Lincoln) reported 166,448 new vehicle sales in June, down 6% year-over-year, although the second quarter was slightly positive at 536,050 (up 0.8%). Also, the year-to-date result is higher than a year ago at 1,044,133 (up 3.6%).
Simultaneously, Ford noticeably increased its all-electric car sales. Last month, Ford sold 6,972 EVs, 18% more than a year ago. The EV share of the brand's total volume improved to 4.4%, compared to 3.5% a year ago.
In June, the Ford Mustang Mach-E sales amounted to 3,497 units, 15% less than its sales volume in June 2023. At the same time, the Ford F-150 Lightning noted a 79% increase to 2,552, while the Ford E-Transit noted a 152% increase to 923 units.
Ford BEV sales last month (YOY change):
- Ford Mustang Mach-E: 3,497 (down 15%)
- Ford F-150 Lightning: 2,552 (up 79%)
- Ford E-Transit: 923 (up 152%)
- Total: 6,972 (up 18%) and 4.4% share
Ford BEV sales in the U.S. - June 2024
During the second quarter of 2024, Ford sold almost 24,000 all-electric vehicles—61% more than a year ago. With about 2,000 more sales, it would be a new record. The share of EVs increased to 4.7% from 2.9% in Q2 2023.
According to Ford, this result was good enough to maintain the second position in the U.S. among brands, only behind Tesla. In terms of models, all three noted pretty strong growth year-over-year.
Ford BEV sales in Q2'2024 (YOY change):
- Ford Mustang Mach-E: 12,645 (up 46%)
- Ford F-150 Lightning: 7,902 (up 77%)
- Ford E-Transit: 3,410 (up 96%)
- Total: 23,957 (up 61%) and 4.7% share
So far this year, Ford has sold over 44,000 all-electric vehicles in the U.S., nearly 72% more than a year ago. That's about 4.4% of the brand's total volume.
Ford BEV sales year-to-date (YOY change):
- Ford Mustang Mach-E: 22,234 (up 58%)
- Ford F-150 Lightning: 15,645 (up 79%)
- Ford E-Transit: 6,301 (up 116%)
- Total: 44,180 (up 72%) and 4.4% share
For reference, in 2023, Ford sold more than 72,000 all-electric vehicles in the U.S., up 18% compared to 2022. This was about 3.8% of the brand's total volume.
Ford F-150 Lightning
In June, Ford F-150 Lightning sales increased 79% year-over-year to 2,552. In Q2 and H1, sales amounted to 7,902 and 15,645, respectively. As we have said, we expect nothing but growth from the Ford F-150 Lightning in 2024, at least until Q4.
Ford says that the model remains America’s No. 1 selling electric truck. 62% of Ford F-150 Lightning sales are new to Ford.
Ford Mustang Mach-E
Ford Mustang Mach-E sales amounted to 3,497 units in June, down 15% year-over-year. However, in Q2 and H1, sales were up at 12,645 (up 46%) and 22,234 (up 58%), respectively.
Ford said that 54% of Mustang Mach-E sales are new to Ford, so the model is drawing customers from other brands.
Ford reported that the "gross stock" increased in June to 18,000 units, compared to 17,600 a month ago.
Mach-E production in Mexico in June amounted to 5,347 units, 59% fewer than a year ago. The total result year-to-date was 23,022, down 50% year-over-year.
We assume that Ford produced less because supply significantly outpaced demand. It seems that it will be a challenging year for the Mach-E. The cumulative production since 2020 exceeded 265,000.
Ford E-Transit
Sales of the Ford E-Transit van continued to grow fast, reaching 923 units in June (up 152% year-over-year). In Q2 and H1, sales amounted to 3,410 (up 96%) and 6,301 (up 116%), respectively.
Ford confirmed that the E-Transit remains the America’s best-selling electric van. Additionally, the manufacturer revealed that: "Three of every four E-Transit sales this year are from repeat customers as businesses see for themselves the lower maintenance and fuel costs that come with an electric vehicle."
Soon, the Ford E-Transit lineup will be strengthened by an extended-range version.
Unfortunately, Ford does not report sales of other plug-in models, like the Ford Escape PHEV. Lincoln's PHEV sales were not revealed either.
See also
2024-07-04T12:45:42Z dg43tfdfdgfd