Ford EV Sales Jump

By Douglas A. McIntyre Published Sep 4, 8:30AM EDT

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Ford EV Sales Jump — © gopixa / iStock Editorial via Getty Images

Overall, the sales data from Ford Motor continues to be positive. In August, U.S. unit sales rose 27.3% to 158,008. The industry continues to face supply chain problems which makes the number particularly impressive.

Sales of Ford’s EVs were especially strong, but tiny. The numbers show how far Ford has to go to have a major presence in the sector. Sales of the Ford-F150 Lightning hit 2,373 for the month. The model was not available last year. And, it was extremely modest compared to all F-series sales which were 58,283 for the month.
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Sales of the popular Mustang Mach-E crossover EV rose 115.5% to 3,120. It is part of what Ford calls the SUV segment. Total sales of this segment were 64,808. These were driven largely by improved sales of the Bronco and Explorer. In other words, Mustang Mach-E sales rose rapidly but remain a very small part of Ford’s SUV business.

Ford continues to have three challenges in the EV market. One is that the components for EV engines have spiked. Ford recently raised the average price of the Lightning by $7,000, and the Mustang Mach-E by $3,000 to $4,000. Price will be a consumer consideration when people decide whether to move from gas powered to EV models.

Components for EV engines across the industry remain scarce. This means that Ford will have trouble meeting demand for its EVs, and this may persist for months. People who want these vehicles may not be willing to wait and will turn to other SUVs and pick-ups.

Finally, Tesla remains the market leader by unit sales, and by a wide gulf. In the most recently reported quarter, Tesla sold 254,000 vehicles. Tesla has its own SUV-crossover in its Model X, and will introduce a pick up in mid-2023. Tesla’s brand strength should help sales of this to be brisk.
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Ford’s EV presence is in its earliest stages. Almost every major car company in the world is in the midst of an EV line-up launch. Ford is in the game, but it has a very long way to go to be the leader.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.