What’s Behind the Welcome Change?

Sales of the Ford Mustang Mach-E, F-150 Lightning, and E-Transit vans have all been on the rise. What’s driving the shift in consumer buying patterns?

Earlier this year, Ford announced plans to scale back the adoption of hybrid and EV tech due to a lack of customer demand. In May, the Ford Mustang Mach-E alone sold 18,737 models. Let’s look at what could be behind this welcome change in buyer behaviors.

The Situation in April

To fully appreciate the significance of this shift in buying patterns, you’ll need a better idea of where they stood in prior months. In April, Ford announced that its EV division lost $1.32 billion on vehicles wholesaled in the first quarter. That’s a significant loss, even for an automotive giant.

In the same month, Ford opened orders for the 2024 F-150 Lightning. It features a “Flash” trim that designers believe hits a sweet spot with consumers thanks to its extended-range battery, extra tech, and popular features.

The new model falls between the XLT and the Lariat. All three of these lower trim levels got price cuts earlier this year. The XLT now costs $2,000 less, the Flash is priced at $5,500 less than anticipated, and the Lariat saw a discount of $2,500.

May Brought a Huge Jump in Sales

In May, electric vehicle sales climbed 64.7%. The Ford Mustang Mach-E was the top-selling EV, accounting for 4,255 of the models sold. That’s up 46% from May 2023. Sales growth for the F-150 Lightning was even higher at 91% year-over-year. Ford sold 3,260 models.

Demand for the automaker’s E-Transit electric commercial van has been slightly lower, but it’s up 77% from last May when 1,450 vans were sold. Ford’s overall EV sales growth outpaced its hybrid and internal combustion engine growth numbers.

Why the Change?

The sudden jump in Ford Mustang Mach-E, F-150 Lightning, and EV-Transit sales has caught some people off guard. However, it makes sense when considered in the bigger picture.

Part of consumers’ motivation is almost certainly taking advantage of the lower prices and other incentives announced earlier this year. The Ford Mustang Mach-E also saw serious price cuts, with the automaker offering a new 0% APR offer after slashing prices by up to $8,100.

It’s not all about lower prices at the dealership. Ford has also begun a partnership with Tesla, allowing EV owners to use the competitor’s upgraded Superchargers via an adapter. The adapters are free.

Is Now the Time to Buy a Ford Mustang Mach-E?

Now may be the perfect time to invest in a Ford Mustang Mach-E or F-150 Lightning. These EVs are increasing in popularity, and prices may not remain as low forever if demand continues to surge.

Ford has yet to announce further changes to its earlier statement that it was shifting course to focus on hybridizing its existing lineup rather than producing new BEVs.

Drivers who take a wait-and-see approach may be left paying higher prices or settling for models they don’t love.