Photo: Ford
Ford appears to recover from the supply chain nightmare and the microchip shortage, as it posted stellar monthly sales in July. Ford’s new vehicle sales rose 36.6% from a year ago, while the rest of the industry is estimated to have declined by 10.5%.
We can hear champagne popping at Ford’s headquarters in Detroit after what appears to be one of the best months in a very long time. The Blue Oval sold a total of 163,942 vehicles in July, up 7.7% from June and an eye-popping 36.6% from July 2021. The results are buoyed by impressive sales for the company’s SUVs and the F-Series trucks, which have become the bestsellers in the U.S. This comes after a less than optimal 2021 due to a fire at one of Ford’s chip suppliers in Japan.
The profitable F-Series pickup trucks took the limelight, as Ford sold more than 60,000 in a month for the first time. The F-Series has thus become the number one truck in the country, with 63,341 units sold in July, up 21.1% from 2021 and up roughly 10% from the previous month. Ford is exceptionally proud of its electric vehicle sales, making it number one among the traditional carmakers in selling EVs.
Ford only has three EV models, the F-150 Lightning, the Mustang Mach-E, and the E-Transit van. Together, they amounted to 7,669 vehicles, enough to help Ford capture 10.9% of the U.S. EV market. According to the sale results, Ford sold 2,173 F-150 Lightning trucks in July, which is indeed impressive.
Ford’s results (attached below) made some analysts claim that legacy carmakers have a double EV growth rate compared to Tesla, and the EV leader loses market share. This is both true and false, depending on what you’re looking at. For once, it’s quite easy to double your EV performance when you start with so few sales. Keeping that growth rate consistent once you sell a significant number of electric vehicles is a little more complicated.
While Ford increased its EV market share to 10.9% in July, Tesla’s share decreased to 60.9%, down 7.5 percentage points compared to July 2021. Tesla sales have grown 37% YoY, to 42,813 units. At the same time, non-Tesla EV sales were up 90.6%, but Tesla still sold far more EVs in July than all other carmakers combined (27,543 units). The legacy carmakers appear to be eating from Tesla’s pie with their EVs, but the opposite is also true. Indeed, every car that Tesla sells in the U.S. shrinks the pie slices for the established automakers.
The profitable F-Series pickup trucks took the limelight, as Ford sold more than 60,000 in a month for the first time. The F-Series has thus become the number one truck in the country, with 63,341 units sold in July, up 21.1% from 2021 and up roughly 10% from the previous month. Ford is exceptionally proud of its electric vehicle sales, making it number one among the traditional carmakers in selling EVs.
Ford only has three EV models, the F-150 Lightning, the Mustang Mach-E, and the E-Transit van. Together, they amounted to 7,669 vehicles, enough to help Ford capture 10.9% of the U.S. EV market. According to the sale results, Ford sold 2,173 F-150 Lightning trucks in July, which is indeed impressive.
Ford’s results (attached below) made some analysts claim that legacy carmakers have a double EV growth rate compared to Tesla, and the EV leader loses market share. This is both true and false, depending on what you’re looking at. For once, it’s quite easy to double your EV performance when you start with so few sales. Keeping that growth rate consistent once you sell a significant number of electric vehicles is a little more complicated.
While Ford increased its EV market share to 10.9% in July, Tesla’s share decreased to 60.9%, down 7.5 percentage points compared to July 2021. Tesla sales have grown 37% YoY, to 42,813 units. At the same time, non-Tesla EV sales were up 90.6%, but Tesla still sold far more EVs in July than all other carmakers combined (27,543 units). The legacy carmakers appear to be eating from Tesla’s pie with their EVs, but the opposite is also true. Indeed, every car that Tesla sells in the U.S. shrinks the pie slices for the established automakers.
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