Ford EV sales soar 307% in August as automaker clinches second place in US market

Ford has poured all of its efforts into changing its fleet to electrical, and it’s paying off huge time. America’s best-selling automaker continues seeing sturdy demand for its EV fashions as gross sales grew one other 307% in August.

For over a century, Ford has been main the US auto trade to new heights. Henry Ford revolutionized the trade, introducing the primary shifting meeting line in 1913 to spice up manufacturing.

After that, the corporate made the first-ever truck, the Ford Motel TT, in 1915. Now the corporate is shifting to a brand new frontier, an all-electric one.

Ford is having success to date in changing its hottest fashions to EVs. It began with the Mustang Mach-e in Dec 2020, an electrical twist on the longtime muscle automobile favourite. After that, Ford launched an electrical model of its business van, the E-Transit, a heavy favourite within the trade.

To dig deeper into the EV market, Ford launched the F-150 Lightning, an all-electric pickup, to hitch its ever-popular f-series lineup. Deliveries started in Could 2022, and by August, Ford had delivered its EV truck to all 50 US states. The corporate is now struggling to maintain up as increasingly orders are coming in.

James Farley, Ford’s CEO, commented on the optimistic response from customers throughout its second-quarter earnings name on the finish of July, explaining:

Now we’ve been overwhelmed with the demand for our first-generation EVs, the Mustang Mach-E, the Lightning and the E-Transit. These merchandise are available in the market now, and we now have sturdy multiyear order banks. We’re promoting them as quick as we are able to make them.

Ford seems to hit a 60,000 EV run price by the tip of subsequent yr whereas ramping it as much as 2 million by 2026. That being mentioned, Ford is locking up offers for crucial battery minerals with suppliers like CATL to make sure it will probably hit its objectives.

Ford Mustang Mach-e Vapor Blue Supply: Ford

Ford EV gross sales grew greater than four-fold in August, extending profitable streak

After promoting out initially, Ford reopened orders for the F-150 lightning in early August with new pricing and up to date colours. After which final week, Ford opened orders for the Mustang Mach-e, additionally that includes a worth increase and two new colours.

The F-150 Lightning had its finest month (once more), promoting on supplier tons in simply eight days, its quickest turning automobile. The EV truck bought 2,373 in August, 200 greater than in July.

The Mustang Mach-e, however, is in heavy demand regardless of being in the marketplace for over a yr now. Mach-e gross sales reached 3,120, up 115% from August 2021. But, orders for the brand new Mach-e hit report ranges of over 7,800 within the month.

Ford’s business EV van dominates the market with over 90% share. The automaker bought 404 E-transit’s in August.

The suggestions has been spectacular to date, with Ford claiming the second spot within the US EV gross sales market in August. Right here’s a breakdown of Ford’s EV gross sales up to now for 2022.

Ford F-150 lighting – 6,842
Mustang Mach-e – 25, 765
E-Transit – 3,938

Despite the fact that rates of interest are rising and costs of fashions are going up, Ford’s EV gross sales usually are not slowing down. August exhibits that EVs are in excessive demand, and automakers are nonetheless struggling to maintain up.

Electrek’s Take

Ford has made a stable case for itself over the previous yr as an actual EV contender. With nearly each legacy automaker and EV startup chasing Tesla at this level for market share, Ford seems to construct upon its success to date.

With the profitable introduction of the F-150 Lightning, Ford is claiming a crucial market in EV vans.

Ford has talked about it’ll concentrate on changing a number of key fashions (such because the Explorer, Maverick, and Ranger) that already promote properly inside its portfolio to electrical.

Will or not it’s sufficient for Ford to carry on to its market share? I wouldn’t doubt it. You see, Ford has a bonus over startups in that it will probably funnel cash from conventional automobile gross sales to spice up development in its electrical fashions.

I will likely be to see how the market reacts as new EV vans are launched. Rivian is ramping manufacturing of its R1T, whereas Tesla’s cybertruck is about to hit manufacturing in 2023.

The outdated vs. the brand new – who will come out on prime? I wouldn’t be stunned to see Ford maintain its personal with nearly 100 years of expertise in constructing vans. Then once more, electrical is a distinct ballgame. We’ll see.

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