Ford Motor Company is reporting a significant increase in electric vehicle sales, with a 68% surge over the last year.
The company has announced that it will increase production of its popular electric, gas, and hybrid vehicles to meet growing demand from consumers worldwide. The move comes as the automaker looks to maintain its market share and sales in an increasingly competitive industry.
Key Points:
- Ford electric vehicle sales have increased by 68% in the past year.
- Popular models include the Mustang Mach-E, F-150 Lightning, and Escape Plug-In Hybrid.
- The Mustang Mach-E saw its best sales month ever in February, with over 6,600 units sold.
- Ford’s market share in the electric vehicle market is growing rapidly, with the company aiming to become the top producer of EVs in the U.S. by 2025.
- Ford is boosting production of its F-150 Lightning electric pickup truck, which has received over 200,000 reservations since its launch last year.
- The automaker is also ramping up production of its Escape and Explorer hybrid SUVs, which have seen strong sales growth in recent months.
- Ford plans to invest more than $22 billion in electric vehicles (EVs) through 2025, including the launch of new models such as the Mustang Mach-E and the E-Transit van.
- The company aims to have 40% of its global sales volume come from EVs by 2030.
- Ford is partnering with several battery suppliers to secure a steady supply of lithium-ion cells for its EVs.
Ford’s sales figures reflect a growing trend in the automotive industry, as more consumers turn to electric vehicles in search of greener transportation options. The company’s popular electric models include the Mustang Mach-E, F-150 Lightning, and Escape Plug-In Hybrid, all of which have seen significant sales growth in recent months.
The Mustang Mach-E, Ford’s flagship electric vehicle, has been particularly successful, with over 6,600 units sold in February alone, making it the best sales month ever for the model.
Production of the F-150 Lightning at the Rouge Electric Vehicle Center is on track to triple this year, targeting an annual production run rate of 150,000 by the end of 2023.
In response to high demand, Ford is increasing production of its electric, gas, and hybrid vehicles. The company is investing $22 billion in electrification through 2025, with plans to introduce 16 fully electric vehicles by that time.
By ramping up production of its popular models, Ford hopes to capture an even larger share of the growing electric vehicle market.
In addition to its EV ambitions, Ford is also looking to expand its market share in other areas. The company recently unveiled its new Maverick compact pickup truck, which is aimed at younger, urban customers. The Maverick is the first standard pickup truck to come with a hybrid powertrain, underscoring Ford’s commitment to sustainability.
Following Industry-trends
Ford’s decision to increase production of its electric, gas, and hybrid vehicles reflects a broader trend in the automotive industry towards electrification.
With governments around the world imposing stricter emissions regulations, many automakers are shifting towards EVs and other alternative powertrains to reduce their carbon footprint.
Ford has been a pioneer in this area, launching the first mass-produced hybrid vehicle in 2004 with the Escape Hybrid. Since then, the company has continued to invest heavily in electrification, with plans to release several new EVs in the coming years
Ford’s EV Investment Plans:
Ford is betting big on the future of EVs, with plans to invest more than $22 billion in the technology through 2025. The company aims to have 40% of its global sales volume come from EVs by 2030.
Overall, Ford’s decision to increase production of its electric, gas, and hybrid vehicles is a reflection of its commitment to sustainability and innovation. With a strong lineup of models and ambitious plans for the future, the company is well-positioned to maintain its market share and sales
F-150 Lightning: The Future of Work Trucks
The F-150 Lightning is revolutionizing the work truck market with its combination of performance, utility, and sustainability.
As the best-selling electric truck in the U.S., the electric F150 Lightning had sales of 3,600 through February, in addition to the 15,617 sales recorded in 2022. F-150 Lightning production will resume March 13. Overall, for the F-150 Lightning production increase, Ford is investing $2 billion across three plants in Michigan and adding 3,200 union jobs.
The Maverick: A New Kind of Pickup Truck
Ford’s new Maverick pickup truck is aimed at younger, urban customers who prioritize sustainability and versatility. The Maverick is the first standard pickup truck to come with a hybrid powertrain, reflecting Ford’s commitment to innovation.
