July 20, 2024

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Ford’s EV sales surge in Q2 as it looks to close the gap with Tesla

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Ford’s EV sales climbed 61% in the second quarter, carrying the automaker’s growth. With nearly 24,000 electric vehicles sold in Q2, Ford topped GM again to remain second in the US EV market as it looks to close the gap with Tesla.

Ford’s EV sales carry growth in Q2 2024

Ford sold 23,957 electric vehicles in the second quarter of 2024, up 61% year-over-year (14,843 in Q2 2023).

Electric cars led the growth as Ford’s hybrid sales were up 55% while internal combustion sales fell 5%.

Ford’s EVs all saw double-digit sales growth YOY. F-150 Lightning sales were up 77% to 7,902. With 15,645 models sold through June, the Lightning remained America’s top-selling electric truck as new competition like the Tesla Cybertruck and Chevy Silverado EV RST hit the market.

Mustang Mach-e sales were up 46%, with 12,645 models sold. The Mach-e had its best first-half performance since launching, with 22,234 units handed over.

Sales of Ford’s electric van, the E-Transit, continue climbing, with 3,410 units sold in Q2, up 96% YOY.

Ford sold 44,180 electric cars in the first half of 2024, up 72% from the 25,709 handed over at this time last year.

Ford EV model Q2 2024 sales % growth YOY First half of 2024 sales % growth YOY
Mustang Mach-E 12,645 46.5% 22,234 58.4%
F-150 Lightning 7,902 76.9% 15,654 78.7%
E-Transit 3,410 95.5% 6,301 116.4%
Ford’s EV sales in Q2 and first half of 2024

The growth was enough for Ford to stay atop rival GM in the US EV market. GM delivered 21,930 EVs in Q2 for a total of 38,355 through the first half of 2024.

GM is also ramping output with new models, including the Chevy Blazer, Equinox, and Silverado EVs hitting the market.

2024 Ford F-150 Lightning Flash (Source: Ford)

Tesla doesn’t give a regional breakdown but beat expectations, delivering 443,956 EVs in the second quarter.

Other rivals, including Hyundai and Kia, hit new EV sales records in Q2 as the competition heats up in the US.

Ford Mustang Mach-E GT Bronze edition (Source: Ford)

Hyundai sold a record number of IONIQ 5s in Q2 as first-half sales reached 18,728. Meanwhile, sales of Kia’s first three-row electric SUV, the EV9, are heating up.

The news comes as CEO Jim Farley confirmed this week that Ford is shifting to smaller, more affordable EVs to close the gap with Tesla and fend off others like BYD globally. Farley said smaller EVs are “super important for our society” while addressing America’s love for “monster vehicles” (you can read more here).

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