Ford ended 2023 with its best-ever quarter for electric vehicles (EVs) sakes, helping it secure second spot as the top-selling EV brand in the US, behind industry leader Tesla.
According to Ford’s numbers released on Wednesday, the year saw remarkable growth in Ford’s EV division, Model e, culminating in a record-breaking 72,608 total sales of electric cars. The F-150 Lightning and E-Transit emerged as the best-sellers in their respective segments, contributing to a 24% increase in sales during the final quarter.
Despite not introducing any new EV models in 2023, Ford experienced an 18% increase in EV sales compared to the previous year. The F-150 Lightning recorded a notable 55% increase, the Mustang Mach-E achieved a 3% increase, and sales of the E-Transit van jumped 18%.
Despite facing challenges such as labour strikes and supply issues, Ford CEO Jim Farley expressed pride in the company becoming the second best-selling EV brand in the US. Farley also teased the release of its future EVs built on the company’s next-generation architecture.
Proud of our team for strong 2023!
@Ford is #2 EV brand in U.S. w/ record Q4 & year. EVs up 24% from Q3 & 18% for year. F-150 Lightning up 74% for Q4. Mustang Mach-E had its best year ever. E-Transit is best-selling electric van nameplate in U.S. And next-gen EVs are on the way!@jimfarley98 | X
Ford’s success comes amid a strategic shift, with the company scaling back its EV plans. Despite the record-breaking year, Ford is delaying approximately $12 billion in EV spending. The company is also significantly reducing production of the F-150 Lightning, at the same time raising prices by as much as $10,000 for the 2024 model year.
Half of Ford’s dealers have also opted out of selling EVs.