stronghold She put all her efforts into converting her fleet to electricity, and it pays off a lot. America’s best-selling automaker continues to see strong demand for its electric models as sales grew another 307% in August.
For more than a century, Ford has been leading the American auto industry to new heights. Henry Ford revolutionized the industry, introducing the first movable assembly line In 1913 to boost production.
Then, the company built its first ever truck, the Ford Motel TT, in 1915. Now the company is moving to a new frontier, all-electric.
Ford has so far had success converting its most popular models to electric vehicles. I started with Mustang Match E In December 2020, an electric twist on the long-favorite muscle car. Next, Ford introduced an electric version of its commercial truck, the E-Transit, a hot favorite in the industry.
To delve deeper into the electric vehicle market, Ford introduced the F-150 Lightning, an all-electric pickup truck, to join the ever-popular F-series lineup. Deliveries began in May 2022, and by August, Ford had She delivered her EV truck for all 50 US states. The company is now struggling to keep up with more and more orders coming in.
James Farley, Ford CEO, commented on the positive response from consumers during the second quarter of the year earnings call At the end of July, he explained:
We are now overwhelmed by the demand for our first generation cars, the Mustang Mach-E, Lightning and E-Transit. These products are on the market now, and we have strong multi-year demand banks. We are selling it as soon as possible.
Ford is looking to achieve an operating rate of 60,000 EV by the end of next year while increasing it to 2 million by 2026. However, Ford is closing critical battery metal deals with suppliers such as CATL to ensure that it can achieve its goals.
Ford EV sales more than quadrupled in August, expanding the winning streak
After-sales at the beginning, Ford Orders reopened for F-150 lightning in early August with new pricing and updated colors. Then last week, Ford opened Commands for Mustang Mach-ewhich also features higher prices and two new colors.
The F-150 Lightning truck had its best month (again), sold out at many dealerships in just eight days, and was its fastest spinning vehicle. The EV sold 2373 truck in August, up 200 from July.
On the other hand, the Mustang Mach-e is in great demand even though it has been in the market for over a year now. Mach-e sales reached 3,120, up 115% from August 2021. However, new Mach-e orders reached record levels of over 7,800 in the month.
Ford’s commercial electric vehicle dominates the market with a share of over 90%. The automaker sold 404 transit e-cars in August.
The feedback so far has been impressive, with Ford taking second place in the US electric vehicle sales market in August. Below is a breakdown of Ford EV sales so far for 2022.
- Ford F-150 Lighting – 6842
- Mustang Mac E – 25, 765
- E-Transit – 3938
Despite higher interest rates and higher prices for models, Ford’s EV sales aren’t slowing. August shows that demand for electric vehicles is high, and automakers are still struggling to keep up.
Take Electric
Ford has made a strong case for itself over the past year as a true competitor to electric vehicles. With all the old automakers and the electric car company chasing Tesla at this point for market share, Ford is looking to build on its success so far.
With the successful introduction of the F-150 Lightning, Ford is claiming an important market for EV trucks.
Ford has stated that it will focus on converting some major models (such as the Explorer, Maverick, and Ranger) which is already selling well within its electricity portfolio.
Will it be enough for Ford to hold on to market share? I wouldn’t doubt it. You see, Ford has an advantage over startups in terms of its ability to divert money from traditional car sales to drive growth in its electric models.
I’d be interested to see how the market reacts to the introduction of new electric trucks. Rivian ramps up production R1Twhile the Tesla e-truck is scheduled to reach production in 2023.
Old vs. new – who will come out on top? I wouldn’t be surprised to see Ford has nearly 100 years of experience building trucks. Then again, electricity is a different ball game. we will see.
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