Ford managed to set a new personal record in 2023 in terms of its EV sales – right alongside a new high of 1.2 million all-electric vehicles that were sold in the U.S. over that same time frame. All of the automaker’s EV models – including the Ford Mustang Mach-E – enjoyed banner years in that regard, which is notable for many reasons. On the flip side, with demand failing to keep up with expectations over the final few months of 2023, Ford decided to scale back some of its planned investments in electrification, and inventory continues to spike – though the automaker isn’t too worried about that backup. Now, according to new data from S&P Global Mobility, Ford Mustang Mach-E inventory levels have declined somewhat, but still remain high by traditional standards.
December 2023 marked the first month in the year when Ford Mustang Mach-E inventory levels declined, but with sales averaging around 5,000 units per month, there’s still a pretty large backlog of inventory sitting on dealer lots. However, it certainly isn’t alone in that regard, as some of its rivals – including the Volkswagen ID.4 and Hyundai Ioniq 5 – have also seen their sales wane as of late, which has prompted a reduction of inventory by those respective automakers.
There are some models that are currently bucking this trend, however – the Ford F-150 Lightning, for example, has seen its inventory levels grow from 3,200 units in August to 13,000 at the end of December, right on the cusp of the automaker’s decision to halve production of the EV pickup for 2024. This is also notable as the average F-150 Lightning MSRP has dropped from $80,000 to around $74,000 in recent months.
The other model bucking this trend is the Chevy Bolt EV, which is set to be discontinued for a short time before it’s replaced, but in the meantime, inventory levels of the model have grown. Dealers are also offering substantial discounts on the Bolt EV as a result, which should theoretically reverse this trend in the coming months.