Retail orders further expand, spring-loading Ford for growth. Ford’s retail order bank increased over 70,000 units, excluding Bronco and Maverick retail orders, which is 10 times the normal retail order rate compared to year ago.
Mustang Mach-E July sales grew 15.8 percent in July compared to June; through July of this year, it’s now in second place in the rapidly growing battery electric sport utility segment.
F-150 Lightning reservations exceeded 120,000. Almost 80 percent of the fully electric Lightning truck customers are coming from other brands, with the majority of orders coming from California and bringing new people to the full-size truck segment.
Ford’s electrified vehicle portfolio achieves new July sales record, while expanding Ford’s electrified presence in California. Ford’s electrified vehicle sales were up 57.5 percent on sales of 9,103 vehicles, with Mustang Mach-E and F-150 PowerBoost Hybrid leading the way with sales of 2,854 and 4,498, respectively. F-150 PowerBoost Hybrid had its best sales performance since launch, with sales up 23.4 percent compared to June.
With new truck and SUV vehicle introductions and sales of high series trim SUVs up 6.7 percent over July last year, transaction prices are up approximately $8,400 at almost $50,000 per vehicle. July’s incentive spend as a percentage of transaction pricing was 3.5 percent per vehicle, down more than 7 ppts over a year ago and 1.4 ppts lower than the overall industry.
Ford rapidly grows its accessory business, with further expansion expected. Through the first half of the year, Ford’s accessory business was up 23 percent and on track for a record year.
Ford advances disruptive automotive technology with approximately 2.4 million monthly active users in the U.S. on FordPass and Lincoln Way – up from 1.3M a year ago. Activation rates as high as 97 percent on Mustang Mach-E; high engagement across the entire Ford / Lincoln lineup at 82.4 percent – up almost 5 ppts since 2019.