Ford Motor Co’s (NYSE: F) Mustang Mach-E sales nearly halved in February, the automaker’s monthly sales data showed on Wednesday, posting a bigger drop than its gasoline counterpart.
What Happened: The Dearborn, Michigan-based company sold 2,001 Mach-Es in February, a fall of about 46.5% year-on-year and 15.6% over January. It was also the lowest monthly sales for Mach-E since September.
Ford began selling the Mach-E, its first all-electric crossover, in December 2020. At the time, the automaker sold just three units of the model.
Gasoline Version Sales: In contrast, Ford’s iconic gas-powered Mustang sales came in at 4,700 units in February, a 16.8% year-on-year fall and a 17% sequential decline.
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.
The legacy automaker is expected to begin commercial production of the F-150 Lightning — the electric version of its best-selling truck in spring this year.
Ford on Wednesday split its electric vehicle and the internal combustion businesses as it looks to boost profit margins and improve operational efficiency.
Price Action: Ford shares closed 8.4% higher at $18.1 on Wednesday.
Photo by Craig James on Wikimedia.
