In December, Ford and Lincoln sold 192,343 vehicles in the U.S., along with almost 2 million units moved for all of 2023. Both represent a 7% increase year-over-year and a noticeable rebound from the pandemic for the Ford Motor Company. 

Meanwhile, sales of Ford battery-electric vehicles (BEV) improved basically on all metrics, leading to a record month, record quarter and the best annual result ever.

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Ford was America’s No. 2 EV brand in 2023

In 2023 Ford sold over 72,000 all-electric vehicles (Mustang Mach-E, F-150 Lightning and E-Transit), which makes it the No.2 brand in the segment after Tesla. Nonetheless, despite the record result, it was a challenging year for Ford.

In December alone, Ford sold 10,148 all-electric vehicles, which is 30% more than a year ago and a new monthly record—its second consecutive one. EVs represented about 5.5% of the brand's volume compared to 4.5% the same time year ago.

All three electric models—the Mustang Mach-E, F-150 Lightning and E-Transit—noted a year-over-year growth last month. Lightning sales increased by 61% to 3,800 units, the Mach-E was up by 2% year-over-year to 4,863, and E-Transit sales van more than doubled to 1,485.

Ford BEV sales last month (YOY change):

  • Ford Mustang Mach-E: 4,863 (up 2%)
  • Ford F-150 Lightning: 3,800 (up 61%)
  • Ford E-Transit: 1,485 (up 116%)
  • Total: 10,148 (up 30%) and 5.5% share

And now, the total sales of all Ford Motor Company vehicles last month and in 2023 (YoY change):

Ford sales: 183,081 (up 6%) and 1,914,094 (up 7%)
Lincoln sales: 9,262 (up 27%) and 81,818 (down 2%)
Total sales: 192,343 (up 7%) and 1,995,912 (up 7%) 

Ford BEV sales in the U.S. - December 2023

During the fourth quarter of 2023, Ford sold a total of 25,937 all-electric vehicles. The year-over-year growth amounted to 27.5%, while the EV share in the brand's total volume amounted to 5.6%.

In 2023, Ford sold more than 72,000 all-electric vehicles in the U.S., or 18% more than a year ago, which means that it was the best year ever. That's about 3.8% of the brand's total volume.

All models noted a growth compared to 2022, although in the case of the Ford Mustang Mach-E, it was just a symbolic 3%.

Ford BEV sales in 2023 (YOY change):

  • Ford Mustang Mach-E: 40,771 (up 3%)
  • Ford F-150 Lightning: 24,165 (up 55%)
  • Ford E-Transit: 7,672 (up 18%)
  • Total: 72,608 (up 18%) and 3.8% share

For reference, in 2022, Ford more than doubled its BEV sales to 61,575 units, achieving a BEV share of 3.5% of Ford's total volume (excluding the Lincoln brand).

In 2023, Ford sold a few thousand BEVs less than General Motors at 75,883 cars moved. But because all sales are assigned to the Ford brand, it has become America’s No. 2 all-electric vehicle brand after Tesla, while GM's EV sales were spread across several brands.

Ford F-150 Lightning

The Ford F-150 Lightning noted 3,800 units (up 61% year-over-year), which in 2023 meant a total result of 24,165 units—up 55% year-over-year.

According to Ford, the Ford F-150 Lightning has become the No. 1 selling electric truck in the U.S., outpacing the Rivian R1T, the GMC Hummer EV Pickup, the ramping-up Chevrolet Silverado EV and the recently launched Tesla Cybertruck.

However, the results are not as high as Ford previously anticipated, hoping that the production rate will reach 150,000 units per year (12,500 per month) in the near future. Meanwhile, the base prices of the truck increased for 2024, perhaps signaling Ford is anticipating leveling-off demand.

Ford Mustang Mach-E

Ford Mustang Mach-E sales increased in December by 2% year-over-year to 4,863. Similarly, the 2023 year result was showed just 3% growth to 40,771 cars sold, but that's still an upward trajectory, and a new record, by the way.

The "gross stock"—reported by Ford—decreased slightly again to 22,200 units (compared to 24,300 a month ago), but that's still equivalent to multiple months of sales.

Production of the Ford Mustang Mach-E in Mexico for global markets decreased in December by 35% year-over-year to just 4,067 units, which is the new lowest level since the upgrade of the factory in January-February. The peak was 13,639 in May.

If we combine the reduced production with the reduced inventory in the U.S. (aka "gross stock"), it seems that Ford made a necessary adjustment. The lack of the $3,750 federal tax credit for the Mach-E in 2024 also does not help. 

In 2023, production for the global markets increased by 21% year-over-year to over 94,000, also a new record.

The original plan was to increase the production rate to 210,000 units annually by the end of 2023, but it will rather not happen also in 2024 as the manufacturer is scaling down its plan.

Ford E-Transit

Sales of the Ford E-Transit van in December amounted to a record 1,485 units, up 116% year-over-year. This one last surge allowed to achieve a record result of 7,672 in 2023, up 18% year-over-year.

Ford also notes that the E-Transit was America’s best-selling electric van nameplate in 2023, which means that it outpaced the Rivian EDV van and multiple other low-volume models from smaller manufacturers.

Other Plug-Ins

Unfortunately, Ford does not report sales of other plug-in models, like the Ford Escape PHEV. Lincoln's PHEV sales were not revealed either.

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