Mach-E March 2024 & Q1 Results: 77% Increase YTD / 438% Increase YoY for March

[Administrator]

Mach-E March 2024 Sales: 5,364 (438% increase YoY from March 2023)
Mach-E Q1 2024 Sales: 9,589 (77% increase from Q1 2023)
Mach-E March 2024 Production: Not Reported

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[Mach1E]

Massive discounts will do that, go figure.

They should have done it sooner like Tesla did a year ago and we wouldn’t have so many 2023s still.

More is better, but at 3,000 sold per month….. there are still over 10,000 still in inventory. It’ll be July before they get rid of them all!

 

[Snakebitten]

Selfishly speaking, they waited to discount them just as I was ready to acquire.
So I shouldn't complain about the timing.
Although I don't think the discount is what swayed me as much as the 0% allowing me to leave working funds untouched.
The discounts were icing on the cake.

Add to that the car being flawless, and therefore not requiring the frustrations of a punch-list to make things right?

I'm all grins during the honeymoon period indeed.

 

[Ghost Ryder]

how much is Ford losing for each EV sold?

 

[BlackGT PE]

Well I am one of the 9,589 buyers of the Mustang Mach-E! This is my favorite car I’ve owned and truly look forward to driving everyday now. I got black GT Performance Edition. I hope I get 8-10 years out of it without any major issues.

 

[leehinde]

Just to add the anecdotal 'me too', I'll see at least one other when I'm out and about during the day.

I can't go to an intersection without seeing a Tesla at one of the other corners, but Mach-Es had been spotted less frequently, until the past few months.

 

[Dear_OP]

There are about 15 dealerships in the Greater Vancouver area. Last night I did a search MMEs in half of them. The average inventory is about 40 per dealership. With one having 60+. That means the region has about 600 MMEs. Is that normal?

 

[Mach E Balboa]

I too am I March buyer. We got our GT on March 30th. With all of the rebates, Z plan, and 0%. It was a no brainer.

 

[jeng]

I remember that the Cuautitlan plant was shutdown during Q1 2023 for upgrades to increase production. That would differently explain the crazy 438% increase from last year. Q2 sales numbers would be more realistic measurement in terms of sales growth.

Also the fact that the Cuautitlan plant was also shutdown during all of March due to too much inventory in the market is also concerning in a future sales perspective. For buyers this is probably great news, the incentives are likely to stick around a while longer.

 

[Guss-E 2021]

how much is Ford losing for each EV sold?

With the reduced pricing, I can only imagine it is still sizeable. However the total loss on the division was around $4 billion (2023), I believe, against cash on hand of $40 billion. Ford can probably weather the storm a bit longer.

 

[ArthurDOB]

The previous year's models of any vehicle always experience a drop in price and interest rate to clear the way for the next year's models. I'm baffled as to why this seems like a surprise or some nefarious plot to anyone. ?

 

[voxel]

The previous year's models of any vehicle always experience a drop in price and interest rate to clear the way for the next year's models. I'm baffled as to why this seems like a surprise or some nefarious plot to anyone. ?

It proves pricing matters.

Bronco sales have cratered along with Wrangler sales as Ford has not cut prices and while dealers are offering $5K-$8K discounts... that's still not enough to prevent a 25% sales decline.

On the flipside... look at the spike in sales with the cheaper Ford vehicles. Folks are buying (interest rate stuff is BS)... but they are choosing more affordable OR better-value vehicles. Expedition, Tellurides, Grand Highlander are all $50K+ but sell ell.

 

[ArthurDOB]

It proves pricing matters.

Bronco sales have cratered along with Wrangler sales as Ford has not cut prices and while dealers are offering $5K-$8K discounts... that's still not enough to prevent a 25% sales decline.

On the flipside... look at the spike in sales with the cheaper Ford vehicles. Folks are buying (interest rate stuff is BS)... but they are choosing more affordable OR better-value vehicles. Expedition, Tellurides, Grand Highlander are all $50K+ but sell ell.

Of course! Buyers are always going to look for a deal, and sellers will always keep prices higher on vehicles in higher demand and/or lower supply. Interest rates drop on vehicles they really want off the lot to drive demand. Basic economics.

 

[Mach1E]

The previous year's models of any vehicle always experience a drop in price and interest rate to clear the way for the next year's models. I'm baffled as to why this seems like a surprise or some nefarious plot to anyone. ?

I don’t think it’s nefarious. They just kinda suck at it (EV pricing).

Huge price swings are screwing up the market for both used and new cars.

We are used to rebates and discounts on leftover models.

Not $20,000-$50,000 swings like Tesla did last year and Ford is doing now.

Existing owners get crushed on resale values and get gun shy on buying another one.

New buyers worry about resale and “if they should wait” for more price drops.

Creates chaos and while it moves some models short term, can do some long term damage to future sales. Tesla is seeing the impact already from what they did a year ago.

 

[leeman]

Does sales up mean that they are making money or that they're just moving through their existing inventory due to lower pricing ?

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