Sales of the traditional Ford Mustang declined in 2024 as carbuyers increasingly turned to the electric Mustang Mach-E, which topped its traditional counterpart last year.
Ford released sales data last week that showed 44,003 traditional Ford Mustangs were sold in 2024. That was down from 48,605 the prior year, amounting to a 9.5% decrease.
By contrast, sales of the Mustang Mach-E were up 26.9% from a year ago, rising from 40,771 in 2023 to 51,745 in 2024 – a large enough gain to put total sales ahead of the traditional Mustang.
The rise in Mach-E sales occurred as Ford’s EV offerings set new records with 285,291 electrified vehicles sold, including hybrids and fully-electric vehicles. Ford’s EV sales were up 38% in 2024 from the prior year and the company said its sales topped rivals GM and Stellantis.
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The Detroit automaker attributed some of the rise in EV sales to the Ford Power Promise, a program that includes a complimentary home charger with standard installation for no extra charge, as well as access to a Ford adviser for EV support.
Ford announced that it’s extending the Ford Power Promise complimentary offer through March 31, 2025, to help build on the rising interest in the company’s EV offerings into the new year.
AUTOMAKERS THAT PUSHED BACK EV GOALS AND PLANS IN 2024
The increase in sales of Ford’s EVs comes as the automaker has revised aspects of its electrification strategy in the last year to address slower-than-anticipated sales.
Ford announced in August that it had canceled plans for a new electric three-row SUV, and it also temporarily paused production of the F-150 Lightning by broadening an already scheduled pause in December to include the second half of November and the first week of January.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 9.92 | +0.04 | +0.40% |
Ford CEO Jim Farley has said that one of the main solutions to improving EV sales is to bring down production costs – a key goal for the company given that it previously projected it would lose about $5 billion on its EVs in 2024.
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