Saturday, July 13, 2024

Ford’s Electric Vehicle Sales Surge by 81% in February, Driving Overall Growth

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Ford Motor Company reported a notable increase in its U.S. vehicle sales in February, with 165,693 vehicles sold, representing over 9% growth compared to the same period last year.

The year-to-date sales also showed a positive trend, reaching 311,325 units, up 7% year-over-year. These figures come as a positive surprise for a company that some believed was experiencing an “EV slowdown.”

See also: Ford Mustang Mach-E Offers Up to $18,500 Discounts in the US, But Availability Limited

Credit: Ford

Of particular interest is Ford’s performance in the electric vehicle (EV) segment, where the company saw significant growth last month. Ford’s all-electric vehicle sales amounted to 6,368 units, marking an impressive 81% increase compared to a year ago. The EV share of Ford’s total volume also improved, reaching 3.8%, up from 2.3% a year ago.

The Mustang Mach-E, Ford’s flagship electric vehicle, saw a 64% increase in sales year-over-year, with 2,930 units sold in February. The F-150 Lightning, Ford’s all-electric version of its popular pickup truck, recorded 2,578 units sold, marking a 93% increase from a year ago. Additionally, the E-Transit, Ford’s electric van, saw a substantial growth of 113%, with 860 units sold.

See also: Ford Performance Teases High-Performance F-150 Lightning for Pikes Peak

Credit: Ford

So far this year, Ford has sold over 11,000 all-electric vehicles in the U.S., a 26% increase from last year, accounting for about 3.5% of the brand’s total volume.

Despite the positive sales figures, Ford continues to face challenges, particularly with inventory levels. The company reported a “gross stock” of 20,100 units, which is still equivalent to multiple months of sales. Production of the Mustang Mach-E in Mexico also decreased in February, possibly indicating a strategic adjustment to align with expected demand.

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