Ford concluded 2023 on a high note, marking its best-ever quarter for electric vehicle (EV) sales and solidifying its position as the second top-selling EV brand in the United States, trailing industry leader Tesla. Ford’s recent data, released on Wednesday, highlighted impressive growth in its EV division, Model e, culminating in a record-breaking total of 72,608 electric cars sold throughout the year.
The F-150 Lightning and E-Transit emerged as standouts, claiming the best-seller titles in their respective segments and contributing to a substantial 24% increase in sales during the final quarter. Notably, despite not introducing any new EV models in 2023, Ford experienced an 18% surge in EV sales compared to the previous year.
See also: Ford Adjusts Pricing Strategy for F-150 Lightning Models in 2024
Proud of our team for strong 2023! @Ford is #2 EV brand in U.S. w/ record Q4 & year. EVs up 24% from Q3 & 18% for year. F-150 Lightning up 74% for Q4. Mustang Mach-E had its best year ever. E-Transit is best-selling electric van nameplate in U.S. And next-gen EVs are on the way! pic.twitter.com/jceNoO4qhI
— Jim Farley (@jimfarley98) January 4, 2024
The F-150 Lightning, in particular, demonstrated noteworthy success with a remarkable 55% increase in sales, while the Mustang Mach-E achieved a 3% rise, and sales of the E-Transit van saw an 18% jump. Despite facing challenges such as labor strikes and supply issues, Ford’s CEO, Jim Farley, expressed pride in the company’s achievement of becoming the second best-selling EV brand in the US.
See also: Ford Adapts Strategy, Prioritizes Hybrids amid Evolving Automotive Landscape
While Ford has delayed approximately $12 billion in EV spending and is scaling back its EV plans, the company’s success in 2023 suggests a strong market position. Farley hinted at future EV releases built on the company’s next-generation architecture, indicating ongoing commitment to electric mobility.
The strategic shift and record-breaking year for Ford come at a time when the company faces challenges such as labor strikes and supply chain disruptions. Despite achieving remarkable success, Ford is making adjustments, including reducing production of the F-150 Lightning and implementing price increases of up to $10,000 for the 2024 model year.
