Ford Electric Vehicle Sales Jumped 92% During Q2 2022

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Summary:

Ford’s EV sales rose to nearly 14,000 units in the United States for the second quarter of 2022 with a 35% increase in sales volume. The Mustang Mach-E was the best seller at nearly 10,000 sales, The F-150 Lightning in second with over 2,000 sales, and the E-Transit in third with almost 2,000 sales. This surge in demand forced Ford to stop taking orders for the Mustang Mach-E back in April. The Ford F-150 Lightning is consistently increasing demand every month exceeding production capacity from the start. Within a month of the E-Transit’s release, it took over the top spot in monthly sales and has continued in the following couple of months to do so. Ford is now second to Tesla in EV sales and announced that they plan to recreate more iconic and commercial models as EVs. By the end of 2024 they plan to increase EV units to 600,000 per year, and by the end of 2026 they plan to increase that number to 2 million units per year.

Analysis:

With California passing law to eventually ban the sale of any new gasoline vehicles and other states planning to follow suit, its not unexpected for car brands like Ford to focus their attention on EVs. The exceptional increase in sales for Ford’s commercial E-Transit vehicles is showing that other businesses are switching to more sustainable practices. Sales increasing with every passing month faster than production can handle means that once Ford can handle the demand, they should be able to hit their goals of 600,000 units annually in 2024 and 2 million units yearly in 2026. Considering Honda is planning to release a plug-in hybrid in the next generation of the Honda Pilot, I understand why we’re considering frunk space on it.

Source:

Publisher: Ford Authority

Author: Megs Vincent

Date: October 1, 2022

Link: https://fordauthority.com/2022/10/ford-electirc-vehicle-sales-numbers-figures-results-second-quarter-2022-q2/