Ford EV segment share has grown steadily over the past several months, largely due to the launch of the E-Transit and Ford F-150 Lightning, which have joined the Ford Mustang Mach-E in the automaker’s all-electric lineup. EV sales in general have also been on the rise for some time now, most recently spurred on by rising gas prices. Regardless, Ford EV segment share continued to grow in the second quarter of this year, the automaker recently revealed via its July sales report.
In the first quarter of 2022, Ford’s EV segment share came in at 4.4 percent, a number that rose to 7.3 percent in the second quarter. Things looked even brighter in the month of July, specifically, when the automaker commanded a 10.9 percent share of the overall EV market.
Meanwhile, Ford’s growth in the EV market continues to outpace the overall segment as well. Back in May, the automaker’s share of the EV segment grew at a rate that was four times faster than the overall market, thanks to a whopping 222 percent increase in sales. That result corresponded with the first month of sales for the F-150 Lighting, coincidentally.
Ford CEO Jim Farley noted back in March that he believes mass EV adoption will begin in 2023, and more recently, admitted that customers are warming up to electric vehicles sooner than he previously anticipated. The automaker has responded by securing contracts with a wide variety of suppliers to secure the raw materials it needs to ramp up EV production significantly, to 600,000 units globally by the end of 2023.
Meanwhile, Ford EVs are also attracting shoppers from other brands at a high rate. In June, 70 percent of the automaker’s all-electric vehicles sales consisted of customers that previously owned a vehicle made by another manufacturer as The Blue Oval continued to rake in conquest sales across the board.
Source: Ford Authority
