Ford U.S. EV Sales Skyrocket, Capturing Second Place in Q1 2024

In a resounding surge, Ford has reported a remarkable growth in its electric vehicle (EV) sales, positioning itself as America’s second best-selling EV brand in the first quarter of 2024, just behind Tesla.

Ford’s EV sales overtook the 20,000 mark in Q1, representing an impressive 86% increase compared to the same period last year. This surge underscores Ford’s growing presence in the EV market amidst a backdrop of mixed results among automakers.

The Ford F-150 Lightning emerged as the standout performer, solidifying its position as America’s best-selling electric pickup truck. Sales of the F-150 Lightning rose by 80% year-over-year, with 7,743 units delivered in Q1. Ford Pro EV adoption is on the rise, with over 40% of commercial buyers placing orders for the 2024 F-150 Lightning being repeat buyers.

The Mustang Mach-E, Ford’s electric SUV, also experienced strong growth, with sales soaring by 77% year-over-year to reach 9,589 units in Q1. Currently, it stands as America’s second best-selling EV SUV, trailing behind Tesla’s Model Y.

Additionally, the Ford E-Transit established its prowess as America’s best-selling electric van, with sales reaching 2,891 units in Q1, marking a tremendous 148% increase over the same period last year.

Ford’s success in the EV market is attributed to its strategic initiatives, including price adjustments and incentives. The company slashed prices on the Mustang Mach-E earlier this year, resulting in a significant uptick in sales. The impact of lower prices was evident, with the Mach-E witnessing a dramatic surge in weekly movement, according to a report from data analytics firm Cloud Theory.

Despite the challenges posed by slower growth and consumer hesitancy towards fully electric options, Ford remains optimistic about its prospects in the EV sector. With an array of new models hitting the market and a growing customer base across its hybrid and EV offerings, Ford is poised for further growth in 2024.

As the automotive industry continues to navigate the evolving landscape of electrification, Ford’s strong performance in Q1 highlights its commitment to providing buyers with a range of choices, including cutting-edge EVs, catering to diverse preferences and driving the company’s success in the transition towards a greener future.

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