How many electric cars has Ford Motor sold?
This article presents the U.S. EV sales and worldwide EV sales of Ford Motor Company (NYSE: F).
For your information, Ford Motor started going all-electric only in fiscal 2020.
Before 2020, Ford may have experimented with electric vehicles, but it is not the focus of this article.
Being a latecomer, Ford Motor’s EV deliveries are far behind Tesla’s.
Based on the latest results, Tesla is approaching the production and delivery threshold of 2 million units.
In contrast, Ford’s U.S. EV sales reached only 60,000 units while delivering slightly over 100,000 BEVs globally as of 2022.
Let’s delve into the topic in more detail. To begin, here’s the table of contents for your reference.
Electric Vehicle Types
There are a few types of EVs in existence today, and they are shown below:
1. Conventional hybrid EVs
2. Plugged-in hybrid EVs (PHEVs)
3. Battery electric vehicles (BEVs)
Conventional Hybrid EV
Conventional hybrid EVs, such as the popular Toyota Prius, run on electricity and gasoline. This type of EV consists of a gasoline engine with an electric motor and, of course, a battery.
However, conventional hybrid EVs can only be charged when the vehicles are running, using the regenerative braking concept that converts kinetic energy into electricity.
While they are idling, they can’t be plugged in and recharged.
Plugged-In Hybrid EV (PHEV)
The plugged-in hybrid EVs are similar to conventional hybrid EVs in that they run on both electricity and gasoline and have an electric motor that comes with a battery.
Unlike conventional hybrid EVs, the PHEVs can be recharged by plugging into an electric outlet when idling.
In addition, the PHEVs can also be recharged by using the regenerative braking concept when they are on the road.
The Chevy Volt built by General Motors is an example of a PHEV.
Battery Electric Vehicle (BEV)
The BEVs are fully electric vehicles that run exclusively on electricity via onboard batteries. These types of EVs do not have a gas combustion engine. Instead, the BEVs are powered entirely by an electric powertrain that produces no emissions.
BEVs can only be recharged by plugging in an electric outlet at home or a charging station.
The Nissan LEAF and Tesla Model 3/Y fall into this type of EV.
Ford has committed to an all-EV rollout in fiscal 2020 and has launched only 3 BEV models: the Mustang Mach E, the 2022 F-150 Lightning, and the 2022 E-Transit.
According to the EV roadmap, Ford has successfully delivered all its EV models, including the Mustang Mach E, F-150 Lightning, and E-Transit, on time.
The 2022 E-Transit is a commercial van that runs entirely on battery while the F-150 Lightning is an electric pickup truck.
BEV Sales By Year
Every year, Ford’s sales of EVs in the U.S. were none in fiscal 2020.
However, two years later, in fiscal 2022, Ford sold slightly over 61,000 battery electric vehicles, up 127% over 2021.
Ford only started delivering the E-Transit and F-150 Lightning electric pickups in 2022.
Before 2022, Ford had only the Mustang Mach-E to deliver.
As of 2023, Ford’s U.S. EV sales totaled nearly 47,000 units in the first three quarters.
BEV Sales In Percentage
Ford’s BEV sales of 61,575 units in fiscal 2022 represent only 3.3% of its U.S. retail volume.
The 2022 result was significantly higher than the 1.42% measured in fiscal 2021.
As of 2023, Ford’s U.S. EV sales accounted for 3.1% of its U.S. retail volume in the first three quarters.
BEV Sales By Quarter
Ford Motor sold 21,000 BEVs in the U.S. in fiscal 3Q 2023, up 15% year-on-year.
This figure includes all BEV models, such as the Mustang Mach-E, E-Transit, and F-150 Lightning.
Ford’s battery electric vehicle retail volumes were much smaller in 1Q and 2Q 2023, at only 11,000 and 15,000 units, respectively.
BEV Sales By TTM
On a TTM basis, Ford’s electric vehicle sales were flat in most quarters in fiscal 2023.
However, the 2023 results were up significantly on a year-over-year basis.
As of 3Q 2023, Ford’s retail volume of battery electric cars hit 67,000 units, up 4% over the prior quarter and 35% from a year ago.
Growth Rates Of U.S. EV Sales
As of 3Q 2023, Ford recorded a 35% year-on-year increase in its electric vehicle sales in the U.S.
Despite experiencing a double-digit growth rate, this figure is the lowest since 2022.
A noteworthy trend is that the growth of Ford’s BEV sales in the U.S. has significantly declined as of 2023 compared to a year ago.
BEV Sales By Model
As of 2023, Ford sold only 3 BEV models in the U.S.: Mustang Mach E, F-150 Lightning, and E-Transit.
The Mustang Mach-E has been the most popular electric vehicle model for Ford, with an average of around 7,000 units sold quarterly.
As of 3Q 2023, Ford’s retail volume for the Mustang Mach E totaled nearly 15,000 units, the highest number ever reported.
In the same quarter, Ford sold 3,500 F-150 Lightning and 2,600 E-Transit.
U.S. Best-Selling Electric Vehicle Model
The Mustang Mach-E is Ford’s top-selling electric vehicle in the United States.
Ford sold a total of 39,000 Mustang Mach-E in fiscal 2022, and this figure reached 29,000 in the first three quarters of 2023.
Collectively, Ford’s sales of Mustang Mach-E in the U.S. totaled 95,000 as of 3Q 2023.
U.S. Sales By Powertrain
Ford’s vehicle sales in the U.S. still rely on internal combustion engines, as shown in the chart above.
Ford sold over 1.36 million ICE vehicles in the first three quarters of 2023, an 8% increase from the same period in 2022.
Only a tiny percentage of Ford’s U.S. sales are electric vehicles, such as BEVs and hybrids.
Ford’s electric vehicle sales in the U.S. totaled nearly 47,000 units in the first three quarters of 2023, while hybrid vehicle sales reached 96,500 units, up 13% and 16%, respectively, over the same period in 2022.
U.S. Sales By Powertrain In Percentage
Ford’s sales of internal combustion engines in the U.S. accounted for 90.5% and 91.0% of the company’s U.S. retail volume in the first three quarters of 2023 and 2022, respectively.
Despite committing to going all-electric, Ford’s BEV sales only accounted for 3.1% and 3.0% of its total U.S. retail volume in Q1-Q3 2023, and 2022, respectively.
Similarly, Ford’s hybrid vehicle sales represent only a tiny portion of the company’s U.S. volume.
In the first three quarters of 2023, only 6.4% of Ford’s U.S. sales were hybrid vehicles, and the ratio was not much different in 2022.
Worldwide EV Sales By Year
Ford delivered 128,000 and 116,000 battery electric vehicles globally in fiscal 2022 and the first three quarters of 2023, respectively.
Ford’s global BEV delivery results for 2022 and 2023 are significantly higher than its U.S. BEV sales for the same periods.
Worldwide EV Sales By Quarter
Ford delivered a record high of 48,000 battery electric vehicles globally in 3Q 2023, up 50% over the same quarter a year ago.
Ford’s worldwide sales of BEV in 1Q 2023 and 2Q 2023 came in at 21,000 and 47,000 units, respectively, also much higher than the same periods a year ago.
Worldwide EV Sales By TTM
As of 3Q 2023, Ford Motor delivered a record figure of 159,000 battery electric vehicles globally on a TTM basis, up 11% over the previous quarter.
The worldwide delivery figure is more than twice the figure recorded in the U.S.
Worldwide EV Sales In Percentage
Ford Motor’s global BEV sales accounted for 3.6% of the company’s worldwide vehicle volume as of 3Q 2023.
This ratio increased slightly from the 3.2% recorded in 2Q 2023.
Ford’s sales of battery electric vehicles in the United States and worldwide represent a small fraction of the company’s total vehicle sales, and are far behind other EV makers such as Tesla.
Therefore, Ford still has a lot of work to do to win the electric vehicle race.
References and Credits
1. All vehicle sales and financial figures presented in this article were obtained and referenced from Ford’s earnings release, SEC filings, and vehicle sales reports, which are available in Ford’s Financials and Filings.
References and examples such as tables, charts, and diagrams are constantly reviewed to avoid errors, but we cannot warrant the total correctness of all content.
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