2024 Ford Electric Vehicle Sales Jump Despite Production Pause

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Ford Electric Vehicle Sales Jump

So Ford, go and tell us that, no one wants our electric vehicles. They’re selling really badly.

We’re going to slow down production. We’re not going to build some of the factories anymore. We’re going to put it off for years.

US EV Sales Contradicts Ford Statement

Ford US EV sales increased by 81% last month in February of 2024. I mean, sales of the F 150 lightning electric pickup truck, sales of the Mac E-electric SUV, and the e Transit, which is a piece of crap because there’s a new one coming, which is way, way better.

New E-Transit Raises Expectations

The new e transit is just so much better than the previous version and hasn’t gone on sale yet. It will in a couple of months time. But don’t buy the old version. It sucks in comparison to the new one.

But still, people are buying them. Imagine how many more people want the new one. It’s like miles better in so many ways.

Rising EV Sales

I’m thinking people bought the old version, it’s terrible. This new one is so much better.

Anyway, my point here is, if people are still buying that old bucket of crap, imagine how many sales Ford can get for the new version. The same probably applies to the F 150 Lightning.

Ford EV Strategy

Imagine when they got a new version that doesn’t have pretty slow 150 kilowatt charging speeds.

The new version is going to be likely, from what I’m hearing from Ford leaks 350 kilowatt charging speeds.

That’s going to massively increase demand. imagine if the current F 150 Lightning had that ability.

Kia does it, hyundai does it, cybertruck apparently does it on V four superchargers. Anyway, in February, Ford sold 165,700 vehicles in the United States.

Year to date, they have sold 311,000. However, EV sales in February were 6368, 81% more than in February of last year.

The EV share has significantly improved as well, from 2.3% last year to nearly 4% this year.

Now, 4% is still not much, but if you continue to double, four goes to eight, eight goes to Sixteen, Sixteen goes to Thirty two, Thirty two goes to Sixty Four.

Strategic Adjustment in Ford EV Production

It can happen pretty damn quickly. The three Ford vehicles that they have, it’s pretty much all they’ve got sold pretty well.

In February, they sold nearly 3000 Mustang Mackes. That’s up 64% year over year 2930, 26150 lightnings, that’s up 93% year over year.

And 860 e transits up 113% year over year. So e transit, I mean, that’s selling pretty well for what it is. Imagine how many they can sell the new version.

I’m going to guess they’re not going to sell that many because they’re just not prepared. They don’t have enough production capacity because they haven’t built the factories.

This is, of course, in my opinion, evidence of the demand for electric cars. Because Ford’s current existing electric cars, the ones they sold in February, They’re just not that compelling, to be honest they’re not.

But imagine if they were, They could be. Ford could do the work to make them compelling. So the demand is most certainly there. Hyundai are telling us it is. Volvo Polestar are telling us that it is.

Ford Future in the EV Market

EV sales are telling us that it is. EV sales so far this year have grown significantly from last year. Mustang Maqui is not a bad car. It’s had its fair share of issues, but it’s not bad for the price, I think it’s pretty good.

But a version two should have been here already. And if there was a version two, which had faster charging speeds and some of the much needed improvements that people have been asking for, I think it’d sell even better.

So far this year, Ford has sold more than 11,000 EVs in the United States alone. That’s 26% more than a year ago, and it’s around 3.5% of total volume. Now, to be honest, it’s not really that good, is it?

Let’s be honest, 3.5%, that’s pretty mediocre. That does make me very concerned for Ford, because we know that EVs are going to be cheaper to manufacture within the next two years.

I think it’ll be within one year. Not in the US, that’s in China. And the reason I say that is because battery pack prices, not in the US, but in China, are going to come down.

They’re saying the biggest manufacturers in the world, BYD and CATL, are saying they’re going to reduce their prices by 50% this year.

That would mean by the end of this year, when these production lines are up and running using these battery packs, it’ll be cheaper to manufacture an EV. So if you’re making enough if you’re making volume.

Here’s the problem for Ford. They don’t manufacture enough of them. If they’re making ten times as many, their production costs would be significantly lower.

Now Ford’s losing $30,000 on every electric car it sells because it doesn’t manufacture enough of them, doesn’t manufacture enough batteries, it doesn’t manufacture enough EVs, but its rivals, such as Tesla, or they’re making a profit because they’re manufacturing and selling so many more.

The only way for Ford to get out of this situation is to just accept it.

To have to make losses for a couple of years, like EV startups have to accept that. It’s going to be like Tesla, it’s going to make losses for a little while.

You have to just put up with that until you hit that point where you’re mass producing the product and the price comes down enormously.

That’s what Ford could do, but it’s a risk for them, and I don’t think it’s a risk they’re willing to take. That’s why I’m getting more and more concerned about the future of the Ford Motor company.

Especially when you look at their sales in Europe and China. They could eventually be basically american company, only it looks like that’s the way they are headed.

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