Ford Motor Co’s 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 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
