Despite a significant surge in electric vehicle (EV) gross sales at Ford in July, a decline in SUV sales ultimately hindered the company’s overall US growth. Ford’s car sales took a dip with the introduction of modern styles on the market.
Ford sold 8,242 fully electric vehicles in the US last month, a 31% increase from July 2023’s total of 6,280 units. Ford’s electric vehicle duo, the Mustang Mach-E and F-150 Lightning, recorded double-digit growth in their respective gross sales figures.
Mustang Mach-E sales surged by 16% to reach 4,592 units sold in July. Ford has sold a total of 26,826 Mach-E models through the first seven months of 2024, representing a nearly 50% increase compared to last year?
Ford’s electric pickup saw gross sales surge by 82% with a total of 2,822 units sold. By mid-July 2024, Ford’s Lightning electric pickup truck had generated an impressive 18,467 in gross sales, a notable 29% increase.
According to Ford, a significant majority of buyers for its Mach-E electric vehicle (54%) and F-150 Lightning pickup (62%) are first-time owners of these models. The auto giant’s expansion follows the launch of new incentives on Lightning and Mach-E models through its Summer Sales event, which kicked off on July 9.
Despite a surge in electric vehicle (EV) gross sales, Ford’s overall car sales declined slightly compared to the previous year. In August, Ford delivered 173,233 vehicles, a slight decline of 0.2% compared to the 173,639 units sold in July 2023.
Ford’s electric vehicle (EV) gross sales surge 31% in July amid incremental growth of internal combustion engine (ICE) offerings.
SUV sales plummeted by 7% last month, making them the prime culprit behind a decline in overall gross sales. Ford’s sales of its Edge, Bronco, and Escape models suffered significant drops, with the Edge experiencing a 59% decline, the Bronco a 30% fall-off, and the Escape seeing a more modest 15% decrease. Ford ceased production of its Edge SUV earlier this year. Meanwhile, the fresh-off-the-lot Explorer model drove growth, with a whopping 49% surge in sales last month.
| 8,242 | +31.2% | 52,422 | +63.9% | |
| 16,825 | +47.0% | 109,068 | +49.2% | |
| 148,156 | -5.0% | 1,055,866 | -1.9% | |
| 173,233 | -0.2% | 1,217,356 | +3.1% |
* Mustang: 12,500 units
* F-150: 30,000 units
* Escape: 18,000 units
* Explorer: 22,000 units
* Edge: 10,000 units
* Bronco: 8,500 units
Ford’s truck division has reported a 2.5% surge in gross sales, driven primarily by the Maverick, which saw an impressive 70% increase, and the Ranger, which achieved a 25% growth. Ford introduces its latest hybrid Maverick model for the 2025 model year.
Ford’s ICE gross sales declined by 5% as the company strives to expand its hybrid offerings in an effort to boost its lineup. As Ford focuses on perfecting its next-generation electric vehicles (EVs), the company is doubling down on hybrid technology as a bridge solution for customers seeking eco-friendly options.
On its Q2 earnings call, CEO Jim Farley reaffirmed Ford’s focus on developing smaller, more affordable electric vehicles (EVs), highlighting the company’s Long Beach campus as a hub for talent from Tesla, Rivian, Lucid, and Apple, with the aim of creating some of the best EVs in the market.
Farley’s misunderstanding lies in his perception of Tesla as a direct competitor to low-cost Chinese OEMs. Will many rivals follow Volkswagen’s lead by adopting Chinese EV platforms, as predicted by Farley?
The executive noted that Ford, along with Rivian and Tesla, are “the only OEMs outside of China that control software across all aspects of the vehicle.”
The software update, dubbed the Efficiency Mode, has been rolled out by Ford for its 2024 Mustang Mach-E GT, allowing it to accelerate from 0 to 60 mph quicker than the Tesla Model Y Performance.
