Ford U.S. EV Sales Dropped 11% In January 2024

Ford Mustang Mach-E’s sales fell by 51% year-over-year, causing the decline. Feb 3, 2024 at 10:02am ET Ford brand sold 145,632 vehicles in the U.S. in January, about 3.6% more than a year ago. However, its battery-electric vehicles (BEV) sales faced a slow start to the year. Last month, Ford sold 4,674 all-electric vehicles, 11% less than a year ago and the lowest level since April 2023. This accounted for just 3.2% of the brand’s total volume, compared to 5-6% in late 2023. Get Fully Charged In 2023, Ford became America’s No. 2 EV brand by selling over 72,000 all-electric vehicles, but achieving significant growth in 2024 will be a challenge. The main reason behind the BEV sales drop is the Ford Mustang Mach-E sales decrease by 51% year-over-year to 1,295. The Ford F-150 Lightning sales decreased marginally (by 0.3% year-over-year to 2,258). On the other hand, the Ford E-Transit van showed growth with 1,121 sales (up 214% year-over-year). Ford BEV sales in 2023: Ford Mustang Mach-E: 40,771 (up 3%) Ford F-150 Lightning: 24,165 (up 55%) Ford E-Transit: 7,672 (up 18%) Total: 72,608 (up 18%) and 3.8% share The Ford F-150 Lightning noted 2,258 units (down 0.3% year-over-year). The manufacturer recently adjusted the 2024 pricing and production plan, being aware of the challenging market situation. Despite slow sales results in early 2023 due to production pauses and a recall, decent growth is expected in Ford F-150 Lightning sales in 2024. However, achieving the plan of 150,000 units per year seems unlikely at this point. Ford Mustang Mach-E sales dropped to 1,295 units in January (down 51% year-over-year), marking the second-lowest result since its launch in March 2023. The “gross stock” decreased slightly to 21,400 units, but still amounts to multiple months of sales. Sales of the Ford E-Transit van in January amounted to 1,121, up 214% year-over-year, showing a positive outcome. The Ford E-Transit was America’s best-selling electric van nameplate in 2023 and is expected to continue this trend in 2024. Unfortunately, Ford does not report sales of other plug-in models, like the Ford Escape PHEV, and Lincoln’s PHEV sales were not revealed either.

Author: OpenAI