24/7 Insights
- Ford Motor Co. (NYSE: F) had a good sales month in May.
- It has started to have success with its portfolio of EVs, particularly those with famous brands.
Ford Motor Co. (NYSE: F) had a good month in May. U.S. sales rose 11.2% to 190,014. Hybrid sales, at 17,631, comprised 9% of sales. Electric vehicle (EV) sales of 8,966 were slightly less than 5%. Ford’s two EV flagships did unusually well.
The electric version of the best-selling vehicle in the United States, the Ford F-150 Lightning, rose 91% to 3,261. Ford has used the iconic pickup brand to increase its EV portfolio. After two years, it appears to have gotten traction. Sales of all F-Series pickups dropped 1.9% to 69,476.
Ford made a risky decision when it took the iconic sports car brand, the Mustang, and put it on its EV crossover. The Mustang has been among Ford’s most influential brands since 1964. It seemed an odd decision, but it may have started to work. Mach-E sales rose 45% in May to 4,255.
Ford has made a smart decision to help get the Mach-E market share in the crowded EV sector. It is offering 0% APR financing for 72 months on 2023 models. High car loan rates have kept many buyers out of the showrooms.
If Ford has a challenge with the Mach-E, it is the vehicle’s price. EV buyers have complained about the prices of most EVs, and this is viewed as a challenge to the industry. The price tag of the base Mach-E model is $39,995. The high-end “Rally” has a base price of $59,995.
Ford has started to have success with its portfolio of EVs, particularly those with famous brands.
See the Top 10 EV Brands Right Now
∴
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
