Ford number two in EV sales in the US (update)

Ford’s all-electric vehicle sales reached a new record. In July, the company sold 7 669 BEVs, 169% more than a year ago and 4,9% of the total volume (also a new record). The company says that its BEV growth rate is outpacing the market’s average and that the brand is now the 2nd biggest player in the BEV segment, after Tesla.

At the same time, the company announced on Wednesday a list price raise of $6 000 to $8 500 for its all-electric F-150 Lightning pickup truck, “due to significant material cost increases and other factors.” For the basic model, the F-150 Lightning Pro, the price goes up by 18%, to  $46 974 (€46 034). The top model, the Platinum Extended Range, lists at $96 874 (€94 936).

Overwhelmed with the demand

“We’ve been overwhelmed with the demand for our first generation EVs, the Mustang Mach-E, the Lightning, and the E-Transit,” Ford CEO Jim Farley recently said. “These products are in the market now, and we have strong multi-year order banks. So we’re selling them as fast as we can make them, and you can’t say that about many of the EVs coming to market now.”

The number of 7 669 BEVs sold in July includes 2 173 Ford F-150 Lightning electric pickups (a new monthly record), 4 970 Ford Mustang Mach-E, and 526 Ford E-Transit. So far this year, Ford sold over 30 000 all-electric vehicles (up 94% year-over-year). Among them are 22 645 Mach-E, 4 469 F-150 Lightning, and 3 534 E-Transit. Ford is expected to hit 200 000 cumulative plug-in electric vehicle sales this quarter, potentially within weeks.

F-150 and Mach-E

The Ford F-150 Lightning is quickly becoming one of the best-selling electric vehicles in the US. According to the latest news, the electric F-150 has been delivered in all 50 US states already.

The Ford Mustang Mach-E remains the company’s best-selling BEV by volume, with a near-record of 4 970 units in July (up 74% year-over-year). Cumulatively, almost 50 000 were sold in the US only. In addition, the Ford Mustang Mach-E production volume in Mexico increased to a new record of 7 872 after several slower months.

This number excludes China, where the Mach-E is locally produced and sold. This year’s total production exceeded 41 800, while cumulatively, it has been over 112 000 since the car came on the market.

E-Transit

A total of 526 Ford E-Transit were sold in July; year-to-date, it’s 3 534. According to Ford, the E-Transit completely dominated the US electric van market. “We’ve sold more than 3,000 E-Transits in the U.S.during the first six months of this year,” Farley said. “That’s a market share of 95% in the full-size electric van market, 95%. In fact, our next two competitors combined sold just 159 vehicles.”

The competitors Farley is referring to are Rivian and GM, most probably. Rivian sold 13 EDV700 vans, and GM sold 146 of the BrightDrop Zevo 600 vans, according to the automakers. GM and Rivian just began production of their electric delivery vans, while E-Transit sales started in January.

Public response and years-long order banks will allow Ford to “grab an outsized share of the rapidly growing EV market,” Farley continued. “We have a clear path to reach a run rate of 600 000 EVs by the end of next year. And that will lead to a foundation to 2 million by late 2026.”

Farley added Ford does not view its competition simply as fellow legacy automakers but also (new) electric vehicle companies, including emerging Chinese players.

 

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