Ford dominates US EV sales, with highlights and successes, strengthening its position after an impressive Q4 2023.
Ford continued to be the second-leading brand in electric vehicle sales in the United States, behind Tesla. In Q4, it sold nearly 26,000 electric vehicles, while the F-150 Lightning took over as the best-selling electric truck in America in 2023. The Mustang Mach-E also had its best sales year ever.
By the end of 2023, Ford had sold a record 25,937 electric vehicles, up 24% from the previous quarter. In total, it sold 72,608 electric vehicles in 2023, setting a new record and maintaining its position as the second-leading brand behind Tesla.
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After electric truck sales surged by nearly 75% in Q4, the F-150 Lightning was the most popular electric truck, with 11,905 models sold in the last quarter alone and a total of 24,165 in 2023.
The Mustang Mach-E ranked second among electric SUVs in the U.S., with 40,771 units sold last year, also setting a record. Ford's E-Transit was the most popular electric truck, selling 7,672 units in 2023, an 18% increase over the previous year.
Ford CEO Jim Farley proudly stated that Ford remained the second-leading brand in electric vehicles in America.
Ford surpassed GM, which sold 19,469 electric vehicles in Q4, a slight decrease from the previous quarter. GM has discontinued production of the popular Bolt EV as it ramps up production of its Ultium vehicles.
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Hyundai , without giving exact details, sold about 47,000 IONIQ 5 and IONIQ 6 electric vehicles last year, also in record sales. The figures do not include the Kona Electric. With the Kona EV and Kia included, it is possible that Hyundai Motor Group surpassed Ford in electric vehicle sales last year.
As demand continues to grow for the Lightning electric truck, Ford spokesperson Martin Gansberg told Electrek that the company is "making adjustments to pricing, production, and equipment packages.".
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Prices for the 2024 Ford F-150 Lightning start at $54,995, up $5,000 from last year's base model. The base 2024 F-150 Lightning Pro trim offers an EPA-estimated range of up to 240 miles. The other trims, aside from the Platinum, saw increases ranging from $2,000 (Lariat with 320 miles of range) to $7,500 (XLT with 240 miles of range). The Platinum is the only model to see a price reduction, while a new Flash trim is added with 320 miles of range, a technologically advanced interior, and a heat pump.
The Flash also includes the Tow Tech package and Power Tailgate, but despite initial expectations of a cost below $70,000, the new starting price is $73,495. These adjustments, according to a Ford spokesperson, are being made to achieve the optimal combination of sales growth, profitability and customer access to tax benefits.
Additionally, Ford is updating the 2023 Mustang Mach-E, offering a $7,500 discount on Red Carpet Lease Cash. Despite a record year, Ford is scaling back its electric vehicle plans. According to Ford CFO John Lawler, there is a slowdown in various investments, including about $12 billion in spending on electric vehicles. Lawler added that there is a change in the pace and flow of capital and electric vehicle production capacity, including cutting production at the Marshall plant by about half, reducing inverter and motor capacity, and suspending plans for vertical integration.
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Ford, like Toyota, is focusing on its hybrid cars as it faces increasing competition from electric vehicles (EVs). In Q4, Ford's hybrid sales outpaced those of electric vehicles, with more than 37,000 vehicles sold. The company sold more than twice as many hybrids (133,743) as electric vehicles (61,575) last year.
Electric vehicles accounted for just 3.64% of Ford's total vehicle sales. Hybrids, on the other hand, accounted for 6.7%, leaving nearly 90% of sales as internal combustion engine vehicles powered by gasoline.
Although Ford came in second place in electric vehicle sales in the United States, Tesla took the top spot by a significant margin. Tesla delivered a record 484,507 electric vehicles in Q4, surpassing its 2023 goal of 1.8 million.
Source of information: https://electrek.co
