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

Ford Motor Co (NYSE: F) said on Wednesday it sold more Mustang Mach-Es in October compared to a month ago but the jump was shy of the volumes that it scored in July.

What Happened: The Dearborn, Michigan-based automaker said it sold 2,848 Mustang Mach-Es in October, up 76.9% compared with a month ago.

The latest sales numbers are still below the peak of 2,854 units that it had sold in July.

Ford has sold a total of 21,703 units of its five-door electric crossover so far this year. The company noted that "Mach-E ranks second in full electric SUV sales," just behind Tesla Inc’s (NASDAQ: TSLA) Model Y.

Ford expanded sales in the electrified vehicle segment by 53.7% month-over-month to 14,062 vehicles — which is still small when compared to total U.S. sales of 175,918 vehicles in October.

Ford’s electrified vehicle category currently includes a mix of battery electric vehicles, plug-in hybrid vehicles and hybrid electric vehicles.

The automaker said its Ford E-Transit is sold out and the electric F-150 Lightning has secured more than 160,000 reservations.

See Also: Ford Sees 9% Sequential Rise In Sales Of Mustang Mach-E EVs In September, Ramps Up Production

Mach-Es Vs Mustangs: Ford produced fewer Mustang Mach-Es during the month. The company said it made 3,790 Mach-Es in October, a drop of 29.7% on a month-on-month basis, its lowest so far this year.

In comparison, Ford produced 3,430 Mustangs — the traditional, gas-powered car — in October, a drop of about 26.4% month-on-month. 

Mustang Mach-E is Ford’s first all-electric crossover named after the iconic Mustang. The sales of the traditional Mustangs have been coming down. Ford has sold 44,141 Mustangs so far this year, a drop of about 15.2% on a year-on-year basis.

Price Action: Ford shares closed 3.4% higher at $18.6 a share on Wednesday.

Photo: Courtesy of Ford