Ford’s Terrible F-150 Lightening Sales
Ford’s February sales were solid. They moved up 10.5% to 174,192. Sales of its two EV flagships rose but were remarkably small based on units and show Ford’s continuing EV challenges.
Mustang —Same EV Challenges
Better EVs —Come From China
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. Ford has temporarily, perhaps, moved its focus to hybrid models.
EVs Should Have Been Better
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, but it has been unable to transfer that brand power to its two new vehicles. The F-series has been the best-selling vehicle in America for 42 years. From a brand equity standpoint, it has to be one of the most valuable in the industry.
Last year America’s No. 2 automaker told the press “By 2030, Ford plans for 50% of its annual vehicle sales to be electric. Ford is committing $5 billion to its EV production this year, double its investment from a year ago.
Ford’s primary EV fleet goals won’t be met by 2030. Not only are its models unpopular, but EV sales growth has weakened. Some of this has been blamed on high prices, long charging times, and low battery ranges, but none of this has mattered.
