Ford has a very ambitious plan in mind for the sale of electric cars, as the blue oval firm seeks to sell 2 million EV’s by 2026. Meanwhile, Ford has already taken a big step by tripling the sale of its electric cars and having the Mustang Mach-E as the star of the segment with a 47% increase in sales
Ford released its September 2022 sales results on Tuesday, as the US automaker continues to see demand for its electric vehicles rise. Despite ongoing supply issues, Ford’s electric vehicle sales tripled (+197.3%) from last year, gaining 3.1% market share, as the automaker seeks to hit its target of reach 600,000 units by the end of 2023.
Increase in EV sales
Increased demand for Ford electric vehicles fuels a disappointing September
Despite global sales down nearly 9% from September 2021, Ford electric vehicles remain an attractive product. Ford electric vehicle sales rose 197.3% year-over-year, with the company selling 4,691 total EVs in September.
Strong interest in Ford’s new electric vehicles helped offset an otherwise gloomy September sales release. The automaker, like most of the industry, continues to struggle with supply chain issues and parts shortages.
Ford states that “for the sixth consecutive month, more than 50% of Ford retail sales came from previously placed orders.”
Ford trucks see slower sales
One key fact to note is that Ford saw a significant 18.3% decline in truck sales, the company’s crown jewel and previous best-selling segment. Since its launch in June, Ford has sold 8,760 F-150 Lightnings, the company’s electric pickup that has even gone up in price.
The Mustang Mach-E is the icing on the cake
More importantly, the all-electric Mustang Mach-E remains in high demand despite being on the market for nearly three years. Ford sold 2,324 Mach-E’s in September, a 47% increase from last year, bringing the total to 28,089 in 2022.
Ford’s third and latest electric vehicle, the E-Transit van that customers began receiving earlier this year, dominates its market with more than 90% share. The E-Transit remains the best-selling electric van through September, with 4,387 sales since launch.
Andrew Frick, Ford Blue’s vice president of sales, discusses the company’s success in electric vehicles so far, stating, “Ford continued to see high-demand vehicles turn at a record pace in September as we built truck leadership.” and electric vans and we extended our leadership in trucks”.
Ford’s ambitious plan for electric cars
Ford gained a 3.1% share of the EV market in September, reaching 7% of the total. However, with 41,236 electric vehicle sales so far this year and lingering supply chain issues, how will Ford get to 600,000 units by the end of next year?
Ford has big plans to increase production of its electric vehicles and put more EVs in the hands of customers in the coming years. However, reaching its goal of reaching 600,000 vehicles by the end of 2023 and 2 million by 2026 will require significant expansion.