Ford F-150 chief nameplate engineer Linda Zhang details the new electric F-150 and discusses how the microchip shortage affects car making.
Ford reported a surge in electric vehicle sales, with a growth of 184% in May, the company announced Thursday.
More than 10,300 electric vehicles were sold last month, with the F-150 PowerBoost and Escape providing the largest boost, the automaker said.
The Escape alone saw a 125% growth in electrified sales over the past year and a 132% increase in hybrid sales from a year ago.
Vehicle sales of Ford’s all-electric Mustang Mach-E totaled 1,945. The automaker delivered Ford delivered 1,951 in April.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 16.00 | +1.11 | +7.45% |
| TSLA | TESLA, INC. | 572.84 | -32.28 | -5.33% |
| TM | TOYOTA MOTOR | 179.65 | +2.96 | +1.68% |
Overall sales grew 4.1% from May 2020, helped by the strong performance of electric vehicles.
“Ford and its dealers are working harder than ever to match the right mix of inventory to best meet the needs of our customers at the local level,” said Andrew Frick, vice presisent of Ford Sales in the U.S. and Canada, in a statement. “We have been receiving a massive number of reservations for our all-electric F-150 Lightning over the last two weeks – totaling over 70,000 trucks.”
“Ford brand SUVs had their best May sales in 18 years, while Lincoln SUVs posted a new May record,” he added.
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Ford cited new products as a significant factor in the strong performance, with average transaction prices up approximately $3,400 from last year.
Ford does face difficulties in the coming months as a chip shortage has forced the company to cut production and temporarily shut some plants.
