Ford reported a slight decrease of 2.8% in its US electric vehicle (EV) sales in the second quarter of the year. This slip comes after the automaker halted production at its Cuautitlan, Mexico plant, which produces the battery-powered Mustang Mach-E. The pause, which took place in January and February, aimed to double the factory’s capacity.
During the quarter, Ford sold 14,843 EVs, falling short of the 15,273 units sold in the same period a year earlier.
The production halt caused Ford to lag behind rivals Tesla and General Motors in EV sales. Ford had previously surpassed GM in sales last year, securing the second place in the US battery-powered vehicle market behind Tesla, which holds nearly two-thirds of the market share. GM sold 15,354 EVs in Q2, while Hyundai trailed close behind Ford with 14,348 EV sales.
Erich Merkle, Ford’s sales analyst, explained that Mustang Mach-E’s inventory is beginning to replenish after the resumption of factory operations, leading to a 110% surge in June sales for the Mach-E. He stated, “We had better inventory flow to finish out Q2.”
Ford sold 8,633 Mustang Mach-E vehicles, down 21.1% compared to the year-ago quarter. Year to-date sales of the Mach-E are down 20.6%.
EVs accounted for 2.8% of Ford’s sales volume in Q2. The automaker has invested $50 billion in EV development and manufacturing, anticipating a $3 billion loss in its EV business this year. However, by 2026, Ford aims to produce 2 million EVs annually, expecting an 8% return before interest and taxes.
