Ford EV Sales Reaches New Heights With 12% Climb In Q3 2024

Ford has reported a strong performance in Q3 2024, outpacing the overall U.S. automotive industry decline as the company faces increased competition in the electric vehicle (EV) market.

Q3 Sales Performance

According to Ford, the company’s total sales increased by 1% year-over-year in Q3, contrasting with a 2% decline in the overall U.S. auto market. The company’s retail sales surged by 4%, driven by strong demand of its lineup including EVs.

Ford’s recent sales figures highlight significant growth across both hybrid and EVs. Particularly, EV sales increased by 12% year-over-year, reaching 23,509 units. The F-Series truck continues to lead in sales, surpassing 550,000 units through September. 

Andrew Frick, president of Ford Blue and Ford Customer Service Division, emphasized the company’s focus on offering diverse powertrains tailored to customer needs stating, “We’ve listened to customers to offer them vehicles with powertrains to meet their specific needs, and their response validates our product strategy.”

EV Market Position

In the EV market, Ford has seen growth with but 23,509 units sold in Q3. Although GM has overtaken them in Q3 EV sales with 32,095 EVs sold. Despite this, Ford remains the second-best-selling EV brand in the U.S., behind Tesla, with 67,689 EVs sold through September 2024. However, GM’s data indicates that they sold 70,450 electric models in 2024, suggesting they may have surpassed Ford in year-to-date sales.

New Initiatives and Future Outlook

To further promote EV adoption, Ford has launched the “Ford Power Promise” program, which offers new EV buyers a free home charger and covers standard installation costs. This initiative began on October 1, 2024.

Read More: Ford Grants New EV Buyers To Get Free Charger And Home Installation

Ford’s EV lineup also continues to evolve, with F-150 Lightning sales more than doubling in Q3 and the E-Transit retaining its title as America’s best-selling electric van, with a 13% increase in sales for the quarter. In detail, the company reported selling 13,392 Mach-E models last quarter, marking a 9.8% decline compared to Q3 2023.

In contrast, the F-150 Lightning pickup experienced a surge in demand, with sales increasing by 104.5% to reach 7,162 units.Additionally, Ford brand EVs commanded the highest transaction prices among non-luxury EV brands during Q3.

The company’s commercial sector also saw growth, with Ford Pro’s Super Duty trucks experiencing a 12% increase in sales. The Ford Pro Intelligence software platform’s active subscriptions rose by an estimated 30% year-over-year.

As the EV market becomes increasingly competitive, Ford’s strategy of offering diverse powertrain options appears to be paying off. However, with GM’s recent surge in EV sales, the race for the second position in the U.S. EV market behind Tesla is intensifying as we head into the final quarter of 2024.

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