Ford’s Terrible Mustang Mach-E Sales
Ford released its February results. They were strong, as they moved up 10.5% to 174,192. Sales of its two EV flagships rose, but they still only reached tiny numbers.
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Sales of the F-150 Lightning, Ford’s EV flagship, rose 93% to 2,578. However, overall F-series sales for the month were 51,829.
Sales of the Mustang Mach-E rose 64%, but only to 2,930. Sales of the gas-powered Mustang were 4,115.
Ford’s EV sales have been so poor that it has retreated from its $30 billion investment in EVs. It recently shuttered part of its Lightning manufacturing operations because of slow demand. Management has admitted that it is being affected by the slowdown in the market overall. It also remains far behind industry leader Tesla.
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Ford’s EV sales should be better, even in a challenging market. Its two main EVs are among the industry’s most well-known brands. It has been unable to move that brand power to its two new vehicles. The Mustang, first built in 1964, is a prime example. It has been America’s iconic sports car for over half a century. The brand has been slapped onto an EV crossover, and it has not worked.
Ford’s primary EV fleet goals won’t be met by 2030. Not only are its models unpopular. EV sales growth has weakened. Some of this has been blamed on high prices, long charging times, and low battery ranges. None of this has mattered.
