January 23, 2022

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Ford Motor Company (NYSE:F), Tesla Motors, Inc. (NASDAQ:TSLA) – Ford Sold Nearly As Many Electric Mustangs As The Traditional Variant In November, 8% Higher Than Previous Month

Ford Motor Co (NYSE: F) said on Wednesday it sold nearly as many electric Mustang Mach-Es as its gas powered sibling in November and sharply lowered production for the Mach-Es while stepping it up for the traditional Mustangs during the month.

What Happened: The Dearborn, Michigan-based automaker said it sold 3,088 Mustang Mach-Es in November, up 8.42% compared with a month ago. 

Ford has been selling the model, its only electric car, since December last year. 

The latest sales numbers are still below the peak of 3,739 units hit in January.

Ford noted that “Mach-E ranks second in full electric SUV sales,” just behind Tesla Inc’s (NASDAQ: TSLA) Model Y.

In comparison, the legacy automaker sold 3,709 units of the iconic Mustang, a rise of 20.6% over October numbers and a 9.9% decline on a year-on-year basis. Ford sold 8,000 Mustangs in April, the highest volume so far this year.

See Also: Ford Sees 77% Rise In Sales Of EV Mustang Mach-E In October: What You Need To Know

Mustang Mach-E is Ford’s first all-electric crossover named after the iconic Mustang. The legacy automaker is expected to begin commercial production of F-150 Lightning — the electric version of its best-selling truck next year. 

The latest numbers indicate more than half of Mustangs that Ford has sold so far this year are from the battery-powered variant. Customers in the U.S. bought a total of 24,791 Mach-Es in the first nine months of the year and 47,820 traditional Mustangs. 

Stepping Up Mustang Gas Production? The automaker made more Mustangs last month as it more than doubled production to 7,935 vehicles over October figures.

In contrast, Mach-E production came down to 3,272 vehicles in November, a drop of about 14% over October numbers. 

Ford has made nearly as many Mustangs as the battery powered variant so far this year despite a month of no-show in May when it had to halt production for the gas-powered engines due to semiconductor shortages.

The automaker said it has produced 58,278 units of the electric Mustangs year-to-date and 58,095 units of the gas-powered variants. 

Ford currently makes the Mach-E for the U.S. and the European market at a plant in Mexico. In October, the automaker announced it has started making the locally-built Mach-Es in China, deliveries of which are expected to begin by the year end.

See Also: Ford Rolls Off First Mustang Mach-E EVs Off Assembly Lines In China, Setting Stage To Compete With Tesla, Nio

Price Action: Ford stock closed 1.48% higher at $19.87 a share on Thursday.

Click here to check out Benzinga’s EV Hub for the latest electric vehicles news.

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