Ford Shows 17% Decline in EV Sales as the Mustang Mach-E Loses Steam
Ford and other mainstream automakers are investing more towards the future of EVs. Perhaps the biggest example of this from the blue oval is the introduction of the Mustang Mach-E, which is one of the best small SUVs. However, the automaker saw a decrease in EV sales and registrations for January as the Ford Mustang Mach-E is losing its charm.
Here’s a look into Ford’s EV sales for January.
Ford faces a decline in EV sales and registrations
Ford saw a decrease in EV sales and registrations for January 2024 compared to a year prior. According to InsideEVs, there were about 5,429 EV registrations from the blue oval. Ford came in at number two but saw a 17% decrease. Notably, Tesla was number one and had a 15 percent increase. Ford was one spot above Chevrolet, which had 4,353 EVs registered in January. This figure is down by 42 percent.
In total, there were 89,042 new EV registrations, which represents a 4.7% increase from the year prior. However, the rate of growth is lower than what these more fuel-efficient options saw in 2023. EV sales made up about 7.8 percent of the auto market for January, which is on par with where the figure typically falls. Still, EV sales are down across the board despite increased quality.
The Ford Mustang Mach-E sales are lower
Though not totally to blame, the lower sales of the Ford Mustang Mach-E directly impact EV registrations for the automaker. This has especially been the case this year as sales for the Mach-E fell by 51%. It only sold 1,295 units in January. Of course, this came after the Ford Mustang Mach-E was no longer eligible for a tax credit due to parts of the SUV being made in China.
As a result of the tumbling sales, Ford slashed the price of the EV by $8,100. People should note that the price decrease may have helped as the SUV sold 2,930 units in February. This number is up from 2023. Still, there has been a steady decline in sales for the Ford Mustang Mach-E, which helped cause EV registrations in January to go down.
Of course, Ford’s EV sales don’t only come from the Mustang Mach-E. The automaker also has the Ford F-150 Lightning and the E-Transit van. Neither vehicle has seen the same decrease in popularity as the Mustang Mach-E.
