Photo: Ford
The Ford Mustang Mach-E is reportedly piling up at dealers. Ford ramped up production, but they are having a hard time moving the inventory of Mustang Mach-Es and F-150 Lightning pickup trucks.
Ford is investing billions of dollars in EV development on the one hand, but can’t sell the cars that they already have. The carmaker is making more Mustang Mach-Es that it can actually sell. Thus thousands of cars are just sitting in dealerships' yards, waiting for a buyer, as the EV purchase has stopped being on the crest of the wave, despite massive discounts offered through governmental bonuses and dealers.
Figures show that the unsold inventory is piling up after months and months in which dealerships and customers had to deal with inventory shortages and were unable to keep up with demand. According to a report from Business Insider, citing data from analytics firm Cloud Theory, Ford dealers shifted 86.4 percent of their Mach-E inventory in 30 days during the second quarter of 2022.
The turn rate, which refers to how fast a car goes from getting from the dealers' inventory to being sold, fell all the way down to 27.7 in the same period of this year. Ford Mustang Mach-E sales figures also dropped from 10,941 units in the first three months of 2023 to only 8,633 in the second quarter of this year.
The issue also hit the F-150 Lightning. Deliveries of the electric pickup truck increased in 2023 compared to 2022, but still, sales are going through a tough time. Despite the predicament, Ford is making plans to ramp up production up to tripling it by the end of the year. According to Cloud Theory’s data, the rate of sales has slowed down in the past months and a growth is nowhere in sight.
Ford moved 70 percent of the F-150 Lightning inventory within 30 days between April and June 2022. The numbers have almost halved down to 39.3 percent of rat corresponding period of this year.
In a conversation with Insider, Ford’s head of US sales analysis explained that sales were up by almost 12 percent and told that the figures can be misleading. That is happening – they say – because the cars are spending longer times in transit, without them actually piling up on dealer lots.
But a Ford dealership complained that the production rate is way below the customer demand. The dealership had to turn down some of the EV allocation it was offered. Unlike the previous months, the dealership has Mustang Mach-Es and F-150 Lightenings in stock. There was a time when Ford had to halt reservations for the electric pickup truck, because they just could not keep up with the demand.
And is not just Ford that is going through a hard time trying to keep the EV business afloat in a time of crisis. Cloud Theory’s data shows that the turn rate has fallen for other electric models as well. Volkswagen's ID.4 and Hyundai's Ioniq 5 are on the list.
If Ford was overly confident believing they could sell more EVs than they are actually selling right now remains to be seen. What they can do is sit and wait for EV buyers to show up like they used to. To try to convince customers and attract those who would want a Tesla, back in January, Ford slashed prices for the Mustang Mach-E. The move was apparently not enough and the Mach-E is not selling like hot cakes anymore.
Figures show that the unsold inventory is piling up after months and months in which dealerships and customers had to deal with inventory shortages and were unable to keep up with demand. According to a report from Business Insider, citing data from analytics firm Cloud Theory, Ford dealers shifted 86.4 percent of their Mach-E inventory in 30 days during the second quarter of 2022.
The turn rate, which refers to how fast a car goes from getting from the dealers' inventory to being sold, fell all the way down to 27.7 in the same period of this year. Ford Mustang Mach-E sales figures also dropped from 10,941 units in the first three months of 2023 to only 8,633 in the second quarter of this year.
The issue also hit the F-150 Lightning. Deliveries of the electric pickup truck increased in 2023 compared to 2022, but still, sales are going through a tough time. Despite the predicament, Ford is making plans to ramp up production up to tripling it by the end of the year. According to Cloud Theory’s data, the rate of sales has slowed down in the past months and a growth is nowhere in sight.
Ford moved 70 percent of the F-150 Lightning inventory within 30 days between April and June 2022. The numbers have almost halved down to 39.3 percent of rat corresponding period of this year.
In a conversation with Insider, Ford’s head of US sales analysis explained that sales were up by almost 12 percent and told that the figures can be misleading. That is happening – they say – because the cars are spending longer times in transit, without them actually piling up on dealer lots.
But a Ford dealership complained that the production rate is way below the customer demand. The dealership had to turn down some of the EV allocation it was offered. Unlike the previous months, the dealership has Mustang Mach-Es and F-150 Lightenings in stock. There was a time when Ford had to halt reservations for the electric pickup truck, because they just could not keep up with the demand.
And is not just Ford that is going through a hard time trying to keep the EV business afloat in a time of crisis. Cloud Theory’s data shows that the turn rate has fallen for other electric models as well. Volkswagen's ID.4 and Hyundai's Ioniq 5 are on the list.
If Ford was overly confident believing they could sell more EVs than they are actually selling right now remains to be seen. What they can do is sit and wait for EV buyers to show up like they used to. To try to convince customers and attract those who would want a Tesla, back in January, Ford slashed prices for the Mustang Mach-E. The move was apparently not enough and the Mach-E is not selling like hot cakes anymore.
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