In a year that’s proving pivotal for automakers, Ford has set a new benchmark. The third quarter of 2023 saw Ford clocking its most impressive figures in electric vehicle sales, marking a notable 14% increase from Q3 2022.
A Glimpse at the Numbers
In the past quarter alone, Ford has successfully sold a whopping 20,962 EVs, a leap from the 18,257 sold during the same period the previous year. The cumulative sales for the year stand at 46,671 EVs, showing a 13.2% growth compared to 2022 figures, which recorded 41,236 EV sales till the third quarter.
Andrew Frick, Ford’s VP of Sales, Distribution, and Trucks, captured the company’s sentiment: “We saw strong balanced sales growth providing choice to our customers in the third quarter… The Maverick and Bronco Sport remain red hot after Ford boosted manufacturing capacity earlier this year. The all-new seventh-generation Mustang is off to a jack-rabbit start in its first full month, up 90 percent in September over last year.”
The Mustang Mach-E emerged as the star performer, boasting of 14,842 units sold this year – a robust 42.5% increase from 2022. September saw the highest sales in the Mach-E’s history, with 5,872 units finding owners, reflecting a massive 153% surge.
However, it wasn’t all sunny skies. The F-150 Lightning experienced a downturn, selling only 3,503 units in Q3, a stark contrast to the 6,464 units sold during Q3 2022.
Beyond Sales: Ford’s EV Initiatives
While these sales numbers are certainly promising, Ford’s broader vision extends beyond mere figures. The company continues to nurture its EV unit, Model e, even as it remains tethered to its gas vehicle sales. This balancing act is a necessary strategy as Ford redirects billions to its EV transition.
Ford’s strides in semi-autonomous driving are noteworthy as well. The BlueCruise, Ford’s hands-free highway driving suite, boasts of an impressive 125 million miles driven hands-free. Representing a 33% increase since Q2.
Ford commented, “Over the next quarter, the software will continue to improve, and Ford will deliver a new version as it becomes available for additional vehicles.”
Challenges Ahead for Ford
While Ford’s EV growth is commendable, the journey isn’t without its bumps. The fourth quarter has seen production stalls due to ongoing negotiations between the company and the UAW for a new deal aiming at better remuneration and benefits for production line workers.
Ford’s trajectory in the EV landscape is both promising and challenging. As the auto giant harnesses its potential in the electric space, it will be interesting to watch how the brand navigates the dynamic terrains of the automotive industry.
Photo courtesy of Ford.