Ford’s electric vehicle sales rise in second quarter as company seeks to close gap with Tesla

Ford’s electric vehicle sales jumped 61% in the second quarter, driving the automaker’s growth. With nearly 24,000 electric vehicles sold in the second quarter, Ford again overtook GM and remains second in the U.S. electric vehicle market, looking to close the gap with Tesla.

Ford electric vehicle sales to grow in second quarter of 2024

Ford sold 23,957 electric vehicles in the second quarter of 2024, up 61% from the previous year (14,843 in the second quarter of 2023).

Electric cars led the growth, with Ford’s hybrid vehicle sales rising 55% while internal combustion vehicle sales fell 5%.

Ford’s electric vehicles all saw double-digit sales growth year over year. Sales of the F-150 Lightning increased 77% to 7,902 units. With 15,645 models sold through June, the Lightning remained the best-selling electric truck in the U.S., as new competitors like the Tesla Cybertruck and Chevy Silverado EV RST entered the market.

Mustang Mach-e sales increased 46%, with 12,645 units sold. The Mach-e achieved its best first-half performance since its launch, with 22,234 units delivered.

Sales of Ford’s electric van, the E-Transit, continue to climb, with 3,410 units sold in the second quarter, up 96% year-over-year.

Ford sold 44,180 electric cars in the first half of 2024, a 72% increase from 25,709 delivered in the same period last year.

That growth was enough to keep Ford ahead of rival GM in the U.S. electric vehicle market. GM delivered 21,930 electric vehicles in the second quarter, for a total of 38,355 in the first half of 2024.

GM is also increasing production with new models, including the Chevy Blazer, Equinox and Silverado electric vehicles coming to market.

Tesla did not provide a regional breakdown but beat expectations, delivering 443,956 electric vehicles in the second quarter.

Other rivals, including Hyundai and Kia, set new electric vehicle sales records in the second quarter as competition heats up in the United States.

Hyundai sold a record number of IONIQ 5s in the second quarter, with first-half sales reaching 18,728 units. Meanwhile, sales of Kia’s first three-row electric SUV, the EV9, are picking up.

The news comes as CEO Jim Farley confirmed this week that Ford is moving toward smaller, more affordable electric vehicles to close the gap with Tesla and fend off other automakers like BYD globally. Farley said smaller EVs are “extremely important to our society” while also citing Americans’ love of “monster vehicles” (you can read more about that here).