Ford EV Sales Jumped 15 Percent Q3 2023

Ford EV sales – made up of the Ford Mustang Mach-E, the Ford F-150 Lightning and Ford E-Transit – increased 15 percent to 20,962 units during Q3 2023.

Sales of both the Mustang Mach-E and E-Transit were in the green, while the F-150 Lightning found itself in the red last quarter.

Sales Numbers - Ford Electric Vehicle Sales - Q3 2023 - USA

The Mustang Mach-E had the best performance of the trio, selling 14,842 units, up 43 percent year-over-year. The F-150 Lightning slotted into second, down 46 percent to 3,503 sales, while the E-Transit moved 2,617 units, up 90 percent year-over-year.

Overall, 71 percent segment share belonged to the Mustang Mach-E, while the F-150 Lightning accounted for 17 percent. The E-Transit accumulated the remaining 12 percent share.

The Ford Authority Take

Ford EV sales were on the rise last quarter overall, although it seems that demand for battery powered vehicles is waning industrywide. Initially, the automaker planned to produce 600,000 EVs a year by 2024, but pushed this goalpost back.

While Mustang Mach-E sales saw a notable increase last quarter, it’s impossible to ignore the fact that FoMoCo has been rather generous with its incentives and deals toward the purchase of the electric crossover in recent months, likely to remedy subsiding interest. Additionally, the Mustang Mach-E was outperformed by several key rivals last quarter, namely the Tesla Model Y, which consistently outsells FoMoCo’s offering by leaps and bounds. Even so, the uptick in Mustang Mach-E sales is encouraging despite cooling demand for EVs across the board.

However, on the opposite side of the spectrum, sales of the F-150 Lightning plummeted during Q3 2023. The Blue Oval reined in production of the F-150 Lightning at the Rouge Electric Vehicle Center. While the automaker outwardly blamed supply chain difficulties, an internal memo suggested otherwise, as declining sales prompted Ford to scale back assembly in order to avoid overproduction of the electric pickup. There are also significant discounts available toward the F-150 Lightning, so perhaps this will in turn bump its sales numbers back up.

The E-Transit rounded out Ford EV sales with an impressive jump last quarter. This is largely driven by its adoption into delivery companies, such as Meals on Wheels and United States Postal Service, prompting Ford to ramp up production with focus on improving supply of the more popular medium- and low-roof variants.