Ford suffers 11 per cent decline in U.S. electric car sales in January 2024

Ford suffers 11 per cent decline in U.S. electric car sales in January 2024

Ford Motor Company suffered a notable decline in sales of its electric cars in the US market in January 2024. According to stats shared by Ford, the automobile giant experienced a decline of 11 per cent in its US electric car sales in the month of January this year, revealing a notable slump in the battery-electric vehicle (BEV) market. While the company’s overall sales saw a modest increase of 3.6 per cent, reaching 145,632 vehicles compared to the preceding year, the BEV segment faced a noteworthy setback.

BEV sales for the month under review totaled 4,674 units, representing merely 3.2 per cent of the brand's total volume. This decline, notably the lowest level since April last year, hints at a subdued beginning for the company’s electric endeavors in the new year.

When we delve into the specifics, we find that the primary driver behind the BEV sales decline was 51 per cent year-over-year fall in sales of the Ford Mustang Mach-E, which totaled at 1,295 units. In contrast, sales of the Ford F-150 Lightning experienced a marginal decline of 0.3 per cent year-over-year, amounting to 2,258 units. On a positive note, the battery-powered Ford E-Transit van contributed to growth with a remarkable 214 per cent year-over-year upsurge, recording 1,121 sales.

The aforementioned performance stands in stark contrast to the preceding year, where the automaker achieved considerable success in the EV market. In 2023, the brand sold more than 72,000 BEVs in the U.S., marking an 18 per cent upsurge from the previous year and comprising 3.8 per cent of the brand's total sales volume.

The Ford F-150 Lightning, in spite of a marginal year-over-year decline in sales, remains a focal point for the automaker, prompting recent adjustments to the 2024 pricing and production plan. However, the most substantial concern arises from the Ford Mustang Mach-E, which saw its sales tumbling to 1,295 units last month, marking the second-lowest sales since its launch in March 2023.

Even amidst lingering challenges, there are some rays of optimism. For instance, Ford has experienced a notable growth of 214 per cent in sales of the E-Transit van, securing its position as the nation’s best-selling electric van in 2023. As the automaker navigates the complex landscape of EVs, the spotlight remains on its strategies to reinvigorate sales and meet the evolving demands of the EV market.

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