Ford’s electric vehicle division continued to accelerate in July 2024, defying a sales dip for the automaker. While total vehicle sales slipped by 0.8% compared to the previous year, electric vehicle deliveries surged by 31%, marking the sixth consecutive month of growth.
This impressive performance translated to one in twenty Ford vehicles sold being electric. The company’s hybrid lineup also thrived, with sales climbing 47% year-over-year. Leading the EV charge was the Mustang Mach-E, followed closely by the rapidly gaining F-150 Lightning.
However, the electric pickup faces stiff competition from Tesla’s Cybertruck, which has claimed the title of best-selling electric pickup. Ford has defied industry skepticism, demonstrating robust growth in its electric vehicle segment.
Contrary to widespread predictions of an EV market downturn, the automaker has achieved substantial sales gains in 2024. With a total of 52,422 electric vehicles sold year-to-date, representing a significant 64% increase over the previous year, Ford has bucked the trend.
This performance is underscored by the strong sales of its core EV models, including the Mustang Mach-E, F-150 Lightning pickup, and E-Transit van, the latter of which experienced a 5% sales increase last month.
These results have forced a strategic reevaluation within the company, as Ford had initially planned to prioritize internal combustion engines and hybrids in response to anticipated market challenges. However, the company’s decision to maintain EV production has proven to be a strategic win, positioning Ford as a leader in the changing electric vehicle world.
