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Ford Mustang Sales Fall To Challenger, Outsell Camaro In Q3 2022

Ford Mustang sales increased in the United States and Brazil during the third quarter of 2022.

Ford Mustang Sales - Q3 2022 - United States

In the United States, Ford Mustang deliveries totaled 10,354 units in Q3 2022, an increase of about 14 percent compared to 9,115 units sold in Q3 2021.

In the first nine months of the year, Mustang sales decreased about 11 percent to 36,598 units.
MODEL Q3 2022 / Q3 2021 Q3 2022 Q3 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
MUSTANG +13.59% 10,354 9,115 -10.88% 36,598 41,065

Ford Mustang Sales - Q3 2022 - Canada

In Canada, Ford Mustang deliveries totaled 1,231 units in Q3 2022, an increase of about 10 percent compared to 1,121 units sold in Q3 2021.

In the first nine months of the year, Mustang sales decreased about 14 percent to 3,247 units.
MODEL Q3 2022 / Q3 2021 Q3 2022 Q3 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
MUSTANG +9.81% 1,231 1,121 -14.10% 3,247 3,780

Ford Mustang Sales - Q3 2022 - Mexico

In Mexico, Ford Mustang deliveries totaled 169 units in Q3 2022, an increase of about 18 percent compared to 143 units sold in Q3 2021.

In the first nine months of the year, Mustang sales increased about 12 percent to 564 units.
MODEL Q3 2022 / Q3 2021 Q3 2022 Q3 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
MUSTANG +18.18% 169 143 +11.90% 564 504

Ford Mustang Sales - Q3 2022 - Brazil

In Brazil, Ford Mustang deliveries totaled 141 units in Q3 2022, an increase of about 840 percent compared to 15 units sold in Q3 2021.

In the first nine months of the year, Mustang sales increased about 11 percent to 273 units.
MODEL Q3 2022 / Q3 2021 Q3 2022 Q3 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
MUSTANG +840.00% 141 15 +11.43% 273 245

Ford Mustang Sales - Q3 2022 - Argentina

In Argentina, Ford Mustang deliveries totaled 8 units in Q3 2022, a decrease of about 27 percent compared to 11 units sold in Q3 2021.

In the first nine months of the year, Mustang sales increased about 85 percent to 50 units.
MODEL Q3 2022 / Q3 2021 Q3 2022 Q3 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
MUSTANG -27.27% 8 11 +85.19% 50 27

Ford Mustang Sales - Q3 2022 - Colombia

In Colombia, Ford Mustang deliveries totaled 10 units in Q3 2022.

In the first nine months of the year, Mustang sales totaled 26 units.
MODEL Q3 2022 / Q3 2021 Q3 2022 Q3 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
MUSTANG * 10 * * 26 0

Competitive Sales Comparison (USA)

Ford Mustang sales increased 14 percent to 10,354 units during the third quarter of 2022, placing second in its segment in terms of cumulative sales volume. The Doge Challenger took first place with a 17 percent increase to 16,412 units, followed by the Mustang in second and the Chevy Camaro in third, with a 52 percent increase to 7,922 units.

Sales Numbers - Two-Door Muscle Cars - Q3 2022 - USA

MODEL Q3 22 / Q3 21 Q3 22 Q3 21 Q3 22 SHARE Q3 21 SHARE YTD 22 / YTD 21 YTD 22 YTD 21
DODGE CHALLENGER +17.28% 16,412 13,994 47% 49% -4.64% 42,094 44,142
FORD MUSTANG +13.59% 10,354 9,115 30% 32% -10.88% 36,598 41,065
CHEVROLET CAMARO +52.26% 7,922 5,203 23% 18% +27.13% 19,177 15,084
TOTAL +22.52% 34,688 28,312 -2.41% 97,869 100,291

From a segment share standpoint, the Mustang saw a share of 30 percent, down two percentage points from the year-ago quarter. The segment-leading Challenger saw 47 percent, down two percentage points, while the Camaro grew its share five percentage points to 23 percent.

The two-door muscle car segment expanded nearly 23 percent to 34,688 units, meaning that Ford Mustang sales underperformed the segment average.

For reference, we are providing sales results for the expanded two-door, mainstream sports car segment below.

Sales Numbers - Mainstream Two-Door Sports Cars - Q3 2022 - USA

MODEL Q3 22 / Q3 21 Q3 22 Q3 21 Q3 22 SHARE Q3 21 SHARE YTD 22 / YTD 21 YTD 22 YTD 21
DODGE CHALLENGER +17.28% 16,412 13,994 40% 45% -4.64% 42,094 44,142
FORD MUSTANG +13.59% 10,354 9,115 25% 29% -10.88% 36,598 41,065
CHEVROLET CAMARO +52.26% 7,922 5,203 19% 17% +27.13% 19,177 15,084
TOYOTA 86 +35,040.00% 3,514 10 9% 0% +828.26% 9,691 1,044
MAZDA MX-5 MIATA -39.54% 1,772 2,931 4% 9% -52.43% 4,571 9,608
SUBARU BRZ +76,600.00% 767 1 2% 0% +236.57% 2,430 722
NISSAN 370Z +2,767.00% 86 3 0% 0% +138.89% 86 36
FIAT 124 SPIDER -71.17% 17 59 0% 0% -97.42% 24 932
TOTAL +30.43% 40,844 31,316 +1.81% 114,671 112,633

The Ford Authority Take

The higher Ford Mustang sales volume during Q3 2022 is uplifting to say the least, as the ponycar has faced diminished sales as a result of subpar availability due to various supply chain constraints. These constrains include but are not limited to the ongoing microchip shortage, which was initially brought about by the COVID-19 pandemic.

In addition, it’s worth noting that FCA Stellantis generally offers higher incentives on the Dodge Challenger, thereby making its Mustang rival more affordable. Incidentally, the current-generation Challenger is expected to end production in 2024.

Meanwhile, the all-new 2024 Mustang, code-named S650, was revealed last month. Ford’s new pony will represent the seventh generation of the iconic nameplate, bringing about an all-new exterior, brand new interior, and all sorts of modern technologies. Meanwhile, the 2.3L EcoBoost and 5.0L Coyote V8 engines will carry over from the current generation, while featuring various improvements over the same engines offered for the 2022 and 2023 model years. What’s more, the 2023 Mustang – which will be the final model year of the S550 model – will see the discontinuation of the Shelby GT500.

New 2024 Mustang Family.

New 2024 Mustang Family

We expect Ford to begin incentivizing the current, sixth-gen Mustang during its final year of production in order to make room for the all-new model, which is expected to enter production in early 2023. As such, we expect Mustang sales to steadily increase in the near-term, as The Blue Oval adjusts its sales strategy to incorporate the pony car.

About The Numbers

  • All percent change figures compared to Ford Mustang sales in Q3 2021, except if noted
  • There were 77 selling days in Q3 2022 and 77 selling days in Q3 2021

More Information & Sales Reporting

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Comments

  1. J Vélez

    With such low production number the only thing that I can assume is that the margin of profit must be very large. The 2022 had the gt500 which brings good margin. 2023 will be bad and short. The 2024 is not a game changer and I hope for my ford stocks that it does well

    Reply
  2. Tim

    Ford has dictated what they build and when they build it sales numbers mean nothing. It seems dodge dealers have lots of stock in their lots compared to the Ford dealers hard to sell something you don’t have.

    Reply
    1. Bob

      Dodge has the right idea. Fill lots with inventory people can buy and gee it works. Winner

      Reply
      1. Lealand Young

        lol, right up until it comes time to turn or stop (although Dodge and their fans are fine with that). The Mustang and Camaro bury the Challenger when it comes to vehicle dynamics and that’s even something the Dodge guys admit and its why they stayed out of the pony car space.

        Reply
  3. Steve

    There’s no contest. Challenger is the better vehicle. Makes sense to me.

    Reply
  4. Jim Elsasser

    The Dodge Challenger looks like what an American muscle car should look like. Ford on the other hand insists on the Mustang still having that japanese looking front end. As far as the *new* design…still looks the same.

    Reply
    1. RichG

      The Mustang DOES NOT have a “Japanese looking front end.” I cannot believe the stuff I read here.

      Reply
      1. JDE

        It’s a matter of opinion. but yes the Moustang does look a little more JDM than the Challenger which has been built for a decade with a retro face and still managed to outsell it. I would say in this case at least the ford gamble of reducing stock with the excuse of chips to boost demand bit them in the butt.

        Reply
    2. stewdee

      New design is weak sauce , 100% agree.

      Reply
    3. Dog the bounty quicker picker upper Hunter

      “American muscle” assembled in Canada.

      Reply
  5. Bruce Holberg

    Part of a larger problem. Ford sales have declined every single year since 2016. Before COVID, supply chain problems, killing sedans. Farley didn’t start it, but he hasn’t fixed it either. They need to rectify their quality issues, start building more vehicles that people really get excited about, and stop believing their own hype.

    Reply
    1. Robert.Walter

      You are conflating sales with net profit.

      Even if sales are down as you say, in the end it is profit that brings the company to see another day.

      Ford has been pretty transparent that they were pruning unprofitable products and operations to shrink the company so as to focus on what makes money so they could then reexpand as a profitable and competitive business.

      Here 2022 so far:
      Ford affirmed its guidance for full-year 2022 results, expecting to bring in an adjusted EBIT of $11.5 billion to $12.5 billion, which would be up 15% to 20% from the previous year. Ford hopes to finish the year strong with $5.5 billion to $6.5 billion in cash.
      TechCrunch, 27 Jul 2022.

      Here are the historical net profit figures from Statistia:
      2021 17,937 (or 7,300 w/o Rivian)
      2020 -1,279
      2019 47
      2018 3,677
      2017 7,731
      2016 4,589
      2015 7,327
      2014 1,260
      2013 11,953
      2012 1,917
      2011 16,894
      2010 6,477
      2009 2,717
      2008 -14,766
      2007 -2,795

      From what I can see, and taking Covid and supply jumbles into consideration it seems that despite Ford’s sales being down, it’s profits haven’t had the same trajectory.

      The only thing I was surprised to see was the amount of cash on hand. This seems like not a lot to me. I recall that in the depths of the recession Ford had cash and credit lines of about 23G$ (this was achieved, in part, by mortgaging the entire company to get those credit lines.). The company was then much bigger at that time and disposing foreign nameplate assets like JLR, VCC, MC, AM, and not having closed capital draining manufacturing operations in AUS, IND, BRZ, CAN, and USA.

      So I looked a little deeper and a Fitch credit rating upgrade from a couple months ago had this to say:

      (The negative part:)
      “For the past several years, Ford’s credit profile has been weaker than that of many of its global mass-market peers in the ‘BBB’ category, such as GM, Stellantis and VW. Ford’s EBIT and FCF margins have been lower and gross leverage has been a little higher than these other global auto manufacturers.

      (The positive part:)
      Partially offsetting the credit profile effect of lower FCF and higher leverage, Ford has one of the global auto industry’s strongest liquidity positions, providing it with significant financial flexibility.“

      Given that Ford has sold, or closed most or all of its capital burning operations and product segments, Ford is a much smaller company now, with a 30% larger cash and credit cushion and less debt than just a few years ago, one can see that even though units sold is less, and gross sales revenue is down, by pruning away deadwood, Ford is making progress toward renewed growth even in a difficult environment.

      Reply
      1. Bruce Holberg

        Thanks, but not conflating anything. As you say, lots of income and expense lines go into net profit. There isn’t necessarily a 1:1 ratio with sales. The Ebidta numbers I have from Macrotrends are different from yours, but the trend from 2016 forward is the same until 2021 when some pent up demand worked its magic. What we really should look at is Ford market share over this period. We, in any event, here are the EBIDTA figures:

        Ford Motor Annual EBITDA
        (Millions of US $)
        2021 $10,483
        2020 $3,049
        2019 $9,064
        2018 $11,616
        2017 $13,453
        2016 $14,503

        Reply
    2. Bob

      I totality agree. Empty lots les sales.

      Reply
  6. Mike

    One of the reasons Ford will not give up the Mustang, is they will not have an entry in Nascar. They are not about to concede that race series to Chevy and Toyota. It still is free advertising and win on Sunday still creates sales on Monday.

    Reply
    1. JDE

      Eh, they could tack a Mach-E set of stickers on those “Stock” car bodies. Nascar lost a bunch of people when they stopped using homologation and stack shaped bodies.

      Reply
    2. John

      The only problem is that the current “Mustang” NASCAR is a Fusion body with Mustang trim. Not a real Mustang. The vehicle almost looks like a phantom Thunderbird which is not being built currently.

      Reply

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