Record Sales in Jan’22 Push Ford to #2 in Global EV Market

American auto major Ford has climbed to rank 2 in the EV market. The company saw its highest-ever EV sales in January 2022. Additionally, the company was also ranked as the top-selling US automaker.

As per the latest media reports, the EV sales of Ford have reached their all-time high. The growth is mostly due the company’s three popular electric cars: Mustang Mach-E SUVs, the electrified version of the F-150 Lightning, and E-Transit vans.

Ford has offered a variety of EV models, and it also invested in charging points and telematics. The firm is reaping the benefits of its earlier investments with the start of the new year.

The president and CEO of Ford, Jim Farley, announced that more than 275,000 units of the company’s EVs have already been either reserved or ordered.

“We’re also proud that customers see how Ford is taking EVs mainstream, and have already ordered or reserved more than 275,000 all-electric Mustang Mach-E SUVs, F-150 Lightning pickups, and E-Transit commercial vehicles – and we’re breaking constraints to deliver every one of them as fast as we can,” said Farley.

Ford reported that its EV sales in January “grew almost 4 times faster than the overall electrified segment,” selling 13,169 units. This made Ford the current number 2 retailer of electric vehicles in the country, only behind Tesla. Farley suggested doubling the company’s global production capacity for EVs “to at least 600,000” by 2023. Ford plans EVs to represent at least 40 percent of its product mix by 2030.

The American automotive giant collected a revenue of $37.7 billion in Q4 2021. Its Maverick model alone sold 6,513 units in January 2022. Another driver for the record numbers was the Mach-E model (2,370). The transit line of commercial EVs of the firm also saw strong growth. More than 300 American businesses placed orders for 10,000 vehicles.

“We plan to take full advantage of our first-mover position in the fully electric pickup truck market starting with lightning,” Farley declared. “But there’s much more to come. In the coming months, we’ll break ground on the Blue City electric truck plant in Tennessee.”

The Road Ahead

Ford has set itself on the road to lead the US government’s endeavour to make EVs 50% of vehicles sold by 2030. The apparent challenge for the said objectives is the global chip crisis, which cost the automotive industry $210 billion in 2021. This could cause more delays for Ford and other EV makers.