Ford Motor Co. (NYSE: F | F Price Prediction) electric vehicle (EV) sales in June were a disaster. Bloomberg points out there were two reasons, but one had to do with the poor quality issues at the number two U.S. car maker.
The Mustang Mach-E has a “lockout” problem, which means people can be trapped inside. It is part of a growing line of recalls, an area of the auto industry in which Ford appears to be the leader. Another was a factory shut down to change over to new models.
Even with these problems, Ford’s EV numbers were staggeringly low. While overall sales were up 14.2% to 612,095, electric vehicle sales dropped 31% to 16,438. That means Ford sold only 550 EVs a day during June.
Ford, oddly, continues to offer incentives for the Mach-E, which is probably a sign that demand is not terribly brisk. One incentive is 2.9% APR financing for 60 months.
Ford’s EV flagship, the F-150 Lightning has sales of only 4,852, which was down 26.1% from the same month last year. The gasoline-powered F-150 is the bestselling vehicle in the world. Its sales for the month were 222,459, up 11.5%. Those sales were 36% of the month’s total, which shows the extent to which Ford is a gas-powered truck company.
The most difficult thing to understand about Ford’s EV sales is why they are so astonishingly low. In 2021, the company said it would invest $30 billion in its EV initiatives. Later in the year, it said its annual EV production run rate would be 600,000 by the end of 2023. Ford’s EV market share in the United States during the first quarter of 2025 was between 7% and 8%.
As every major car company in the world vies for U.S. EV market share, with its low sales, Ford’s position among its rivals may not change. To make matters worse, CEO Jim Farley said China EVs were not only inexpensive, but they were also of high quality. If they make it into the U.S. market, Ford’s problems become much more troubling.
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