Ford Sold Record 20,962 BEVs In Q3, Only A Bit More Than GM

In September, the total sales of Ford and Lincoln vehicles in the United States increased by 16 percent year-over-year to 165,565. After the first nine months of the year, the total result amounted to 1,508,072 (up nine percent year-over-year).

Results last month and year-to-date:

Ford sales: 158,432 (up 17%) and 1,448,631 (up 10%)
Lincoln sales: 7,133 (up 7%) and 59,441 (down 6%)
Total sales: 165,565 (up 16%) and 1,508,072 (up 9%)

Sales of battery-electric vehicles (BEV) increased last month to a near-record level of 7,742 (up 65 percent year-over-year), which is about 4.9 percent of Ford‘s total volume. Let’s note that Ford has sold more BEVs every month since April of this year.

This positive result allowed Ford to achieve the best quarterly result so far – 20,962 BEV sales in Q3. That’s almost 15 percent more than a year ago and slightly more than in the case of General Motors (20,092). On the other hand, for both Ford and GM, the results are lower than expected and can be considered disappointing.

In terms of model sales, the Ford Mustang Mach-E set a new record in September with 5,872 units (up 153 percent year-over-year). Also, the Ford E-Transit noted a new record of 937 units last month (up 109 year-over-year). Ford adds that the E-Transit is the best-selling electric van in the country.

However, when it comes to the Ford F-150 Lightning, its limited production translated into a pretty significant decrease if sales – only 933 units in September (down by 51 percent year-over-year, and 3,503 in Q3 (down 46 percent year-over-year). Ford explains that things should improve in Q4, as the “F-150 Lightning is expected to produce sales increases in Q4, as capacity actions at the Rouge Electric Vehicle Center are realized.”

Ford BEV sales last month (YOY change):

Ford Mustang Mach-E: 5,872 (up 153%)
Ford F-150 Lightning: 933 (down 51%)
Ford E-Transit: 937 (up 109%)
Total: 7,742 (up 65%) and 4.9% share

Ford BEV sales in Q3’2023 (YOY change):

Ford Mustang Mach-E: 14,842 (up 43%)
Ford F-150 Lightning: 3,503 (down 46%)
Ford E-Transit: 2,617 (up 90%)
Total: 20,962 (up 15%) and 4.4% share

So far this year, Ford sold over 46,000 all-electric vehicles in the US (13 percent more than a year ago). That’s about 3.2 percent of the brand’s total volume.

Ford BEV sales year-to-date (YOY change):

Ford Mustang Mach-E: 28,882 (up 3%)
Ford F-150 Lightning: 12,260 (up 40%)
Ford E-Transit: 5,529 (up 26%)
Total: 46,671 (up 13%) and 3.2% share

For reference, in 2022, Ford more than doubled its BEV sales to 61,575 units and 3.5 percent of Ford’s total volume (excluding the Lincoln brand).

These numbers clearly indicate that so far this year, Ford had significant difficulties ramping up the BEV volume.

Ford F-150 Lightning

Sales of the Ford F-150 Lightning were recently about half lower than a year ago. Ford explains that production is expected to increase after a six-week shutdown to expand the Rouge Electric Vehicle Center across July and August. Earlier this year, the Rouge Electric Vehicle Center was also shut down for several weeks, because of the Ford F-150 Lightning battery recall. This also affected the results.

The company says that the facility is on track to triple its production rate to a target of 150,000 units per year by this fall. 150,000 units per year works out to about 12,500 units per month, so this is what we should expect in the final months of the year or in early 2024.

Ford Mustang Mach-E

The Ford Mustang Mach-E has noted a record result in September (5,872 sales) and it’s expected that Q4 should bring strong year-over-year growth as well.

Time will tell whether the Ford Mustang Mach-E will remain the second most popular all-electric crossover/SUV in the country, after the Tesla Model Y.

Meanwhile, the “gross stock” amounted to 20,400 units (compared to 20,500 a month ago), indicating relatively good availability of the model.

The production of the Ford Mustang Mach-E in Mexico increased to 11,716 units in September. More than 76,000 units were produced so far this year (up 40 percent year-over-year, despite the January-February pause).

For reference, in 2022, the production of the Ford Mustang Mach-E in Mexico amounted to 77,959. In November 2022, Ford celebrated the production of the 150,000th Mach-E. Now, the cumulative number is above 225,000.

As we wrote previously, the company intended to increase the production rate to 210,000 units annually (for global markets) by the end of 2023. However, considering the recent pushback on production targets, we are not so sure if it’s still possible.

Ford E-Transit

Sales of the Ford E-Transit van in September amounted to 937 units (up 109 percent year-over-year). That’s a new record. The year-to-date volume amounted to 5,529 (up 26 percent year-over-year).

Ford promises an increase in E-Transit production at the Kansas City Assembly Plant. The company also launched a new, long-range version of the van.