Ford Vehicle Wholesale And Delivery By Region Statistics

Ford Mustang. Pixabay Image

Ford Motors (NYSE:F) presents 2 types of vehicle sale numbers, and they are

This article presents only Ford’s vehicle wholesale.

Investors who are interested in Ford Motor’s vehicle retail sales may visit this webpage here – Ford Global Sales And Market Share.

Let’s start with the topics below.

Vehicle Wholesale Definition

In simple terms, vehicle wholesale consists of vehicles sold to dealerships.

Such vehicles are shipped directly to the dealers from Ford’s manufacturing facilities or warehouses.

Ford recognizes such deliveries as revenue when the shipments safely arrive in the dealers.

Therefore, the majority of such sales correlate with Ford’s revenue presented in the company’s income statements.

The following quote relates to Ford’s definition of wholesale:

• Wholesale Units and Revenue

  “Wholesale unit volumes include all Ford and Lincoln badged units (whether produced by Ford or by an unconsolidated affiliate) that are sold to dealerships or others, units manufactured by Ford that are sold to other manufacturers, units distributed by Ford for other manufacturers, and local brand units produced by our China joint venture, Jiangling Motors Corporation, Ltd. (“JMC”), that are sold to dealerships or others.”

  “Vehicles sold to daily rental car companies that are subject to a guaranteed repurchase option (i.e., rental repurchase), as well as other sales of finished vehicles for which the recognition of revenue is deferred (e.g., consignments), also are included in wholesale unit volumes.”

  “Revenue from certain vehicles in wholesale unit volumes (specifically, Ford badged vehicles produced and distributed by our unconsolidated affiliates, as well as JMC brand vehicles) are not included in our revenue.”

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Vehicle Wholesale By Year

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The vehicle wholesale figures presented here are global and worldwide deliveries by all of Ford’s subsidiaries as well as its unconsolidated affiliates in China and other countries.

According to the chart, Ford’s annual vehicle wholesale has been on a steady decline since fiscal 2016.

As of 2022, Ford reported a worldwide vehicle wholesale number of 4.2 million units, up 7% over 2021 or 1% over 2020.

The 2022 result was the first year-over-year vehicle delivery increment that Ford had reported in the past 7 years.

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Vehicle Wholesale By Quarter

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Ford’s quarterly vehicle wholesale came in at 1.1 million units in fiscal 2Q 2023, a rise of 8% over the same quarter a year ago.

Ford’s quarterly vehicle wholesale has been on a steady rise in post-pandemic time since fiscal 2021.

Prior to 2021, Ford hardly had any growth in its quarterly vehicle wholesale.

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Vehicle Wholesale By TTM

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The TTM or trailing 12-month plot above is much smoother and clearly displays the rising trend of Ford’s vehicle wholesale in post-pandemic periods.

As of 2Q 2023, Ford’s TTM vehicle wholesale totaled 4.4 million units compared to 4.1 million units recorded in the same quarter a year ago.

Also, Ford Motor hardly had any sales growth in periods prior to the COVID-19 pandemic.

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Growth Rates Of Vehicle Wholesale By TTM

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The growth rate plot above shows that the growth of Ford Motor’s vehicle wholesale comes back only in post-pandemic time, which is after fiscal 2022.

Prior to 2022, Ford literally had no vehicle sales growth as most figures were negative.

As of 2Q 2023, Ford’s vehicle wholesale grew by 7% compared to a decline of 3% recorded in the same quarter a year ago.

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Vehicle Average Selling Price

Ford vehicle average selling price

The average selling price or ASP depicts the average sale price of Ford’s vehicles.

Over the past 3 quarters, Ford’s vehicle average sale price has been on the rise, with figures coming in at $41,500 USD in fiscal 2Q 2023 compared to $40,600 recorded 2 quarters ago.

From a comparison perspective, Ford’s ASP is in line with GM’s vehicle selling price, which averaged $40,000 USD per vehicle as of 2022.

Compared to Tesla’s ASP, Ford’s ASP is much lower as depicted in this article – Vehicle ASP Of Major Automakers.

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Ford Blue

Starting in fiscal 2023, Ford has reorganized its reportable segments into new segments which include the Ford Blue.

In simple terms, Ford Blue is Ford’s legacy business responsible for the development and sale of Ford and Lincoln internal combustion engines (“ICE”) as well as hybrid vehicles.

Apart from the development and sales of new vehicles, Ford Blue also develops and sells service parts, accessories, and digital services to retail customers.

Iconic gas and hybrid vehicles developed under Ford Blue include the F-150, Bronco, and Mustang.

Please note that the definition presented here is not comprehensive. For a complete definition, you may want to refer to Ford’s quarterly or annual reports.

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Ford Model e

Similarly, Ford Model e is another new segment created in fiscal 2023 and is responsible for the development and sale of electric vehicles (EV).

Apart from EVs, Ford Model e also designs and creates digital vehicle technologies which include embedded software as well as all of Ford’s electric architecture.

Ford Model e operates in North America, Europe, and China.

Please note that the definition presented here is not comprehensive. For a complete definition, you may want to refer to Ford’s quarterly or annual reports.

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Ford Pro

Ford Pro is responsible for the sale of Ford and Lincoln ICE, hybrid, and electric vehicles, service parts, accessories, and services to
commercial, government, and rental customers.

In other words, Ford Pro focuses mainly on fleet sales to customers with large orders such as those coming from commercial sectors, government, and rental companies.

Ford Pro’s vehicles sold in North America include the Super Duty and the Transit range of vans.

In Europe, Ford Pro’s flagship vehicles include the Ranger.

Ford Pro operates primarily in North America and Europe.

Please note that the definition presented here is not comprehensive. For a complete definition, you may want to refer to Ford’s quarterly or annual reports.

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Ford Blue, Ford Model e, And Ford Pro Wholesale By Year

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Since Ford Blue, Ford Model e, and Ford Pro are newly created segments, the wholesale results are a recast for fiscal 2022 and only available starting from fiscal 2022.

For the definition of Ford Blue, Ford Model e, and Ford Pro, please scroll to the table of contents located at the top of the page.

That said, for fiscal 2022, Ford Blue delivered roughly 2.8 million vehicles, the largest among all while Ford Pro sold 1.3 million units.

Ford Model e shipped only 97,000 vehicles in fiscal 2022, the lowest among all segments.

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Ford Blue, Ford Model e, And Ford Pro Wholesale By Year In Percentage

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Ford Blue’s vehicle wholesale in fiscal 2022 represents roughly 67% of the company’s total wholesale volume, the highest among all segments.

On the other hand, Ford Pro, which deals primarily with fleet sales for commercial customers, contributed nearly 31% of sales volume in fiscal 2022.

Ford Model e’s vehicle wholesale in fiscal 2022 forms only 2.3% of Ford’s total volume.

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Ford Blue, Ford Model e, And Ford Pro Wholesale By Quarter

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Ford Blue sold roughly 700,000 vehicles on a quarterly basis and this number came in at 720,000 as of 2Q 2023, up 7% over the same quarter a year ago.

On the other hand, Ford Pro delivered slightly over 300,000 vehicles on a quarterly basis and the latest figure was 365,000 vehicles, representing a rise of 8% over the same quarter a year ago.

Ford Model e shipps the least number of vehicles on a quarterly basis, at roughly 30,000 units per quarter.

Of all segments, Ford Model e’s vehicle wholesale grew the most in fiscal 2Q 2023, notably at 42% year-over-year.

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Ford Blue, Ford Model e, And Ford Pro Wholesale By TTM

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The TTM plots above present a much clearer trend for Ford’s vehicle wholesale by segment.

As seen, most of Ford’s wholesale numbers were on the rise in the past 3 quarters.

As of 2Q 2023, Ford Blue shipped 2.9 million vehicles on a TTM basis, the highest level since fiscal 4Q 2022 while Ford Pro delivered nearly 1.4 million vehicles in the same period.

Ford Model e sold 101,000 vehicles on a TTM basis as of 2Q 2023, also a record figure in 2023.

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Growth Rates Of Ford Blue, Ford Model e, And Ford Pro Wholesale By TTM

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Among all segments, Ford Model e’s vehicle deliveries grew the most in fiscal 2Q 2023, remarkably at 11% quarter-over-quarter while other segments registered only low single-digit growth.

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EV Wholesale By Year

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Ford breaks down its EV wholesale data starting only in fiscal 2023. The 2022 data is a recast.

In fiscal 2022, Ford delivered roughly 128,000 electric vehicles on a global basis, which comprised the EV sales primarily from Ford Model e as well as those from Ford Pro.

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EV Wholesale By Year In Percentage

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From the perspective of the percentage, Ford’s electric vehicle deliveries in fiscal 2022 represent only 3% of the company’s total wholesale volume.

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EV Wholesale By Quarter

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On a quarterly basis, Ford sold roughly 40,000 electric vehicles and this figure came to 47,000 units in fiscal 2Q 2023, up 47% over the same quarter a year ago.

For the first half of fiscal 2023, Ford’s EV wholesale clocked nearly 70,000 vehicles as of 2Q 2023.

Keep in mind that the EV wholesale figures presented here represent the global or worldwide EV deliveries that are sold through Ford Model e and Ford Pro segments.

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EV Wholesale By TTM

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The TTM plot above shows that Ford’s EV wholesale jumped to 143,000 units as of 2Q 2023, a significantly higher number compared to historical figures.

At this rate of growth, Ford’s total EV deliveries may reach 150,000 vehicles by the end of fiscal 2023, a rise of 17% over fiscal 2022.

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Growth Rates Of EV Wholesale By TTM

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Quarter to quarter, Ford’s TTM electric vehicle wholesale grew by 12.6% as of fiscal 2Q 2023 compared to a decline of 0.8% in the prior quarter.

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North America, South America, Europe, And China Vehicle Wholesale

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Ford’s vehicle wholesale by region and country figures are legacy reporting and has ended in fiscal 2022.

Starting in fiscal 2023, Ford may no longer provide vehicle wholesale by region and country data after Ford reorganized its reportable segments in fiscal 2023.

The new reporting format includes segments such as Ford Blue, Ford Model e, and Ford Pro. Definitions of the new segments can be found in the table of contents located at the top of the page.

That said, Ford delivered the majority of its vehicles in North America, with figures coming in at more than 2 million units on a yearly basis.

In fiscal 2022, Ford’s North America vehicle wholesale totaled 2.3 million units, up roughly 16% from the previous year but was down considerably from fiscal 2016.

The second largest market for Ford is Europe, with vehicle wholesale clocking roughly 1 million units per year.

As of fiscal 2022, Ford sold 1 million vehicles in Europe, up 14% over 2021 but was down 34% from 2016.

China is Ford’s third largest market in terms of vehicle wholesale.

In fiscal 2022, Ford shipped about 500,000 vehicles in China, down considerably from the 1.3 million vehicles shipped in 2016.

Lastly, Ford delivered the least number of vehicles in South America, with figures coming in at less than 100,000 units in fiscal 2022.

Similar to the decline seen in North America, Europe, and China, Ford’s vehicle wholesale in South America also had been cut by more than 50% since 2016.

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North America, South America, Europe, And China Vehicle Wholesale In Percentage

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Ford’s vehicle wholesale in North America forms the bulk of the total volume, with the percentage coming in at 55% in fiscal 2022 and the ratio has been on the rise.

Since fiscal 2016, Ford’s percentage of wholesale in North America has increased from 45% to 55% as of 2022, making this region the biggest in terms of vehicle volume.

Ford’s Europe contributed 24% of vehicle volume in fiscal 2022, and this ratio has remained roughly the same over the past 7 years.

China is Ford’s third biggest market in terms of vehicle volume and it made up just 12% of the company’s total vehicle volume in fiscal 2022.

Since 2016, the percentage of Ford’s China wholesale has decreased from 20% in 2016 to only 12% as of 2022, the lowest level that has ever been measured.

Ford’s South America contributed just 2% of the total vehicle volume as of 2022, the smallest among all segments.

International Market Group or IMG has remained roughly the same at 7% in terms of vehicle delivery volume.

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Trucks, SUVs, And Cars Wholesale

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Ford’s U.S. result by vehicle type also is a legacy reporting and has ended in fiscal 2022.

Starting in fiscal 2023, Ford has replaced the vehicle wholesale by type with vehicle wholesale by powertrain which we will go over in the next discussion.

That said, Ford’s trucks make up the bulk of the company’s total wholesale volume in the U.S.

In fiscal 2022, Ford sold roughly 1 million trucks in the U.S. alone, up 12% over 2021 but was down slightly since fiscal 2017.

Ford’s SUVs wholesale in the U.S. logged 911,000 vehicles in fiscal 2022, only slightly behind that of truck sales.

On the other hand, Ford’s car wholesale in the U.S. has declined by more than 90% since fiscal 2017 and the latest number shows that Ford delivered only 49,000 cars, the smallest number among all vehicle types.

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Trucks, SUVs, And Cars Wholesale In Percentage

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Ford’s truck wholesale in the U.S. in fiscal 2022 made up roughly 52% of the company’s U.S. sale volume.

This ratio has increased from 43% in 2017 to 52% in 2022, illustrating the growing dominance of trucks in Ford’s vehicle lineup.

Similarly, Ford’s SUV wholesale in the U.S. also has increased from 34% in 2017 to 45% of the company’s U.S. volume as of 2022.

In contrast, Ford’s car wholesale in the U.S. has declined from 23% in 2017 to just 2.4% of its U.S. volume as of 2022.

Ford’s trucks and SUVs alone made up nearly 98% of the company’s total U.S. volume in fiscal 2022 compared to 77% in 2017.

Therefore, large vehicles such as trucks and SUVs have become increasingly critical to Ford’s success in the U.S.

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EV, Hybrid, And ICE Vehicle Wholesale

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Ford’s U.S. wholesale by powertrain is a new reporting format starting only in fiscal 2023 and it will replace the U.S. wholesale by vehicle type.

That said, the chart above shows that the majority of Ford’s vehicle deliveries in the U.S. have been boiled down to internal combustion vehicles despite having been committed to going all out in EVs.

In fiscal 2Q 2023, Ford’s wholesale of internal combustion vehicles topped 467,000 units, which was significantly higher than the numbers of electric vehicles as well as hybrid vehicles.

In the first half of 2023, Ford delivered slightly over 900,000 internal combustion vehicles compared to only 38,000 electric vehicles and 66,000 hybrid vehicles.

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EV, Hybrid, And ICE Vehicle Wholesale In Percentage

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In terms of the percentage, Ford’s ICE vehicle wholesale in the U.S. accounts for roughly 90% of the company’s total vehicle volume.

On the other hand, Ford’s hybrid vehicles make up only 6% of the company’s U.S. total vehicle volume.

Ford’s electric vehicles account for the smallest number of its U.S. deliveries, notably at only 5.6% as of 2Q 2023.

However, this ratio increased significantly from the prior quarter.

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Conclusion

Ford seems like recovering in terms of vehicle wholesale since fiscal 2022.

What do you think?

Please leave your comment below.

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References and Credits

1. All vehicle wholesale data presented in this article were obtained and referenced from Ford’s SEC filings, earnings releases, presentations, quarterly reports, annual reports, etc., which are available at Ford’s Investor Relation.

2. Featured images in this article are used under Creative Commons license and sourced from the following websites: Mike Mozart.

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Disclosure

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