In February, the total sales of Ford and Lincoln vehicles in the United States increased by nearly 22 percent year-over-year to 157,606. It indicates that the manufacturing constraints eased.
Results in February and year-to-date:
- Ford sales: 151,447 (up 2.0%) and 291,995 (up 11.8%)
- Lincoln sales: 6,159 (up 4.0%) and 11,967 (up 2.6%)
- Total sales: 157,606 (up 21.9%) and 303,962 (up 11.4%)
More positive news is that Ford increased its battery electric vehicle (BEV) sales compared to a year ago. In February, the company sold 3,523 BEVs (up 68 percent year-over-year). That's about 2.2 percent of the group's total volume.
On the other hand, it's the lowest monthly level since March 2022 and there are some worrying signs related to production (more on that later).
Ford's BEV lineup includes three models - the Ford Mustang Mach-E, the all-new Ford F-150 Lightning electric pickup, and Ford E-Transit commercial van.
Ford BEV sales in the US - February 2023
- Ford Mustang Mach-E: 1,783 (down 11%)
- Ford F-150 Lightning: 1,336 (up 3,007%)
- Ford E-Transit: 404 (up 677%)
- Total: 3,523 (up 68%) and 2.3% share
BEV sales year-to-date in 2023:
- Ford Mustang Mach-E: 4,409 (up 1%)
- Ford F-150 Lightning: 3,600 (up 3,296%)
- Ford E-Transit: 761 (up 301%)
- Total: 8,770 (up 88%) and 3.0% share
For reference, in 2022, Ford more than doubled its BEV sales to 61,575 units and 3.3 percent of the total volume.
Ford F-150 Lightning
Sales of the Ford F-150 Lightning amounted to 1,336 units in February (compared to a very small number a year ago).
This result is lower than it should be - because the previous months proved that the company has the manufacturing capacity to produce and sell 2,000+ units per month. We believe that there is tremendous demand for electric pickups (all models available on the market), which makes the 1,336 units a bit disappointing.
We don't know exactly what caused the slowdown, but there were worrying reports that in mid-February Ford paused production of the Ford F-150 Lightning due to some undisclosed issues, potentially related to the main battery. The latest report says that production might resume on March 13.
Ford Mustang Mach-E
In the case of the Ford Mustang Mach-E, sales decreased in February to 1,783 (down 11 percent year-over-year), which is the lowest level since September 2021.
That's disappointing, but the question is why did sales decrease? There might be some supply constraints. Ford reports that only about 2,400 units were in "gross stock." Some might say that it's related to Tesla's price reduction.
Ford Mustang Mach-E production
Some interesting data related to the production of the Ford Mustang Mach-E is that, according to the company, only 360 units were produced in February, after zero in January. Normally, the company was cranking thousands of Mach-E every month.
Assuming that the data is correct, we guess that maybe the plant in Mexico is being upgraded to apply some changes and/or increase volume in the following months.
The numbers exclude China, where the Mach-E is locally produced and sold.
For reference, in 2022, the production of the Ford Mustang Mach-E in Mexico amounted to 77,959. In November 2022, Ford celebrated the production of the 150,000th Mach-E.
In the future, the output is expected to increase to 270,000 units annually (more than three times higher than in 2022), but the short-term goal is 130,000 (more than 10,000 units per month).
Sales of the Ford E-Transit van in February amounted to 404 units. We expect that this year Ford will continue to sell at least several hundred units per month.
The company recently scored a massive order for 9,250 E-Transit from USPS, which adds on top of thousands of vehicles ordered previously by various fleets.