Ford Mustang Mach-E Sales Fall

By Douglas A. McIntyre Published Oct 3, 6:40AM EDT

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Ford Mustang Mach-E Sales Fall — © Ford Mustang Mach-E Rally (2024) (BY 2.0) by usf1fan2

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Weak sales of the Ford Motor Co. (NYSE: F | F Price Prediction) flagship electric car show that the automaker continues to struggle in the EV market.
That is one reason Ford has pulled back from the EV business.
Also: Dividend legends to hold forever.

Ford Motor Co. (NYSE: F) had reasonably good deliveries in the third quarter. They rose almost 1% to 504,039. Electric vehicle (EV) deliveries rose 12.2% to 23,509, or 261 a day. Sales of its most important vehicle, financially, the F-Series pickup, were 4.2% higher to 198,429. Its electric F-150 Lightning deliveries increased 105% to 7,162. However, deliveries of its flagship electric car, the Mustang Mach-E, dropped to 13,292. Clearly, the company continues to struggle in the EV market.

Ford put real marketing muscle behind the Mach-E. The Mustang sports car brand was among the most iconic in U.S. automotive history. The first Mustang rolled off the assembly line in 1964. The Mach-E isn’t even a sports car but an EV crossover. According to Google, “The Ford Mustang Mach-E was introduced on November 17, 2019, and went on sale in December 2020. The launch was one of the most-watched global product reveals of 2019, with millions of viewers on social media.” Executive Board Chair Bill Ford headlined the event. “The Mustang Mach-E wholeheartedly rejects the notion that electric vehicles are only good at reducing gas consumption,” said Hau Thai-Tang, the company’s chief product development and purchasing officer.

Fast-forward to today. Ford offers 1.9% APR for 72 months, quite an aggressive financing offer. This incentive is rarely available when most car loans are above 5%.

Ford cannot be entirely blamed for the Mach-E problem. EV sales are soft overall. Even Tesla’s third-quarter deliveries were lackluster.

Mach-E deliveries show one reason why Ford pulled back from the EV business.

Three Warning Signs Ford Is in Trouble

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.