Ford Motor Co. F sold 23,509 electric vehicles in the three months through the end of September, marking a jump of 12.2% from the corresponding period last year, despite a sales slump for its Mustang Mach-E SUV.
What Happened: Mustang Mach-E was Ford’s best-selling EV in the quarter but sales dropped by nearly 10% from the corresponding quarter last year.
The drop in sales of the Mach-E was balanced by a rise in sales of its other two EV offerings in the U.S., namely the F-150 Lightning and the E-transit electric van. While the Lightning electric pickup truck saw its sales rise by 104.5% in the third quarter, the E-transit vans saw sales jump by 13%.
| Model | Q3 Sales |
| Mustang Mach-E | 13,392 |
| F-150 Lightning | 7,162 |
| E-Transit | 2,955 |
| Total | 23,509 |
However, Ford sold 23,957 electric vehicles in the second quarter in the U.S., implying sales fell 1.9% quarter-on-quarter.
Why It Matters: Ford’s rival General Motors sold 32,095 electric vehicles in the last quarter on the back of its newer offerings. The company’s best-selling EV in the period was the Chevrolet Equinox EV which started sales in May 2024.
Ford, in comparison, has an aged and smaller lineup.
In August, Ford said that it is killing its plans to build a three-row electric SUV, initially slated for production in 2025. The company also postponed its plans for a new electric version of its F-150 pickup to 2027 and said it will start making a new electric commercial van in 2026.
More details on the company's EV strategy are now expected in the first half of 2025.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
Read More:
Photo courtesy: Ford
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
