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Ford Motor Co’s (NYSE: F) Mustang Mach-E sales nearly doubled in April over last year, even as gas-powered versions of the vehicles dropped significantly amid semiconductor shortages and production halts.
Mach-E April Sales, Production: The Dearborn, Michigan-based company sold 3,805 Mach-Es in April, a 95% jump year-on-year and a 61% rise over March.
Ford began selling the Mach-E, its first all-electric crossover, in December 2020. It competes with Tesla Inc’s (NASDAQ: TSLA) Model Y compact crossover.
“Through April, Mustang Mach-E sales totaled 10,539 vehicles, placing it second only to Tesla Model Y in electric SUV sales,” Ford said.
Ford produced 4,935 Mach-Es in April, a 32.7% decline over a month ago. The automaker has produced 23,087 Mach-Es this year.
Ford reportedly prolonged a production halt at five of its North American plants last month. The automaker said inventory inflow has improved amid continuing chip shortages.
Mustang ICE Performance: Ford’s iconic gas-powered Mustang posted sales of 4,377 units in April, a decline of 45.3% year-on-year but a jump of 21% over March.
The legacy automaker produced 2,509 Mustangs in April, taking its total production for the iconic brand to 15,780 units so far this year. Production has slipped 39.5% sequentially.
Ford currently makes the Mach-E for the U.S. and European markets at a plant in Mexico and recently started delivering locally made models in China.
Ford’s total U.S. sales in April fell 10.5% to 176,965 vehicles on a year-on-year basis.
See Also: Ford Emphasizes Tesla-Like Strategy, Says Online Sales To Be A 'Bigger Part' Of Its Future
Price Action: Ford closed 2.8% higher at $14.98 on Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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