Ford posts record-breaking EV sales in Q3

Ford's Q3 numbers are out and they bring good news from the EV division. In the third quarter of 2023, Ford enjoyed a 14% spike in EV sales compared to the same period of 2022.

In exact figures, Ford dispatched 20,962 electric vehicles in Q3, which is a leap from 18,257 in the preceding year. Totting up the sales of the entire year, the blue oval has ushered out 46,671 EVs, marking a 13.2% increase from 2022. Sure - compared to largest EV makers these numbers don’t look like much, but the growth is certainly strong.

The Mustang Mach-E leads the EV cavalry, boasting sales of 14,842 units this year – a phenomenal 42.5% increase over last year's numbers. The Mach-E, with its track record and market presence, has earned its place as Ford’s EV crown jewel. September was a particularly noteworthy month for the Mach-E, setting a personal best with 5,872 units finding new owners. But the real time to celebrate will come when Ford manages to add another “0” to these numbers - until then, let’s keep the champagne on ice.

The F-150 Lightning, which one would assume has its own dedicated fan base, has seen a decrease in its sales numbers. A comparative figure from Q3 2022 shows a staggering 45.8% slump, with only 3,503 units being claimed this year. The electric pickup truck that was supposed to revolutionize the truck market in the US is simply not selling - there are many reasons for it and the demand seems to be there so not all is lost.

While Ford's EV pursuits continue to gain momentum, the legacy automaker’s core still resonates with gasoline sales. But don’t let this skew your perception. Ford is pouring resources, to the tune of billions, to bolster its EV footprint.

Ford’s venture into semi-autonomous tech, BlueCruise, is cruising fine. The hands-free highway driving suite clocks in at an impressive 125 million miles driven sans hand intervention. This is an uptick of 33% from the end of Q2. And with that kind of data to analyze, the software will only get better, with regular updates awaiting roll-out.

But before we paint a rosy picture, there's a speed bump. Ford's EV deliveries will hit a snag in Q4. Production has been stalled, as negotiations between Ford and the UAW over worker compensation and benefits unfold.

Beyond the electric realm, Ford’s other vehicles, both gasoline and hybrid, have shown commendable performance. The F-Series maintained its reign as America's preferred truck. With Q3 sales reaching 190,477 units, it's evident that Ford's grip on the American truck market remains unyielding. Moreover, Ford's overall truck sales for Q3 stood at a staggering 275,554 units, a 15.3% hike from the previous year. Now those are serious numbers.

Fascinatingly, the Mustang Mach-E wasn't the only star in the EV lineup. The E-Transit emerged as the top-selling electric van, posting an 89.8% increase in its sales.

In total, with 825,179 pickups and vans getting new owners till September, Ford’s legacy in the segment remains unchallenged, surpassing GM's figures by around 64,000 units.

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