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Apple Will Be Forced to Switch Its Chargers by 2024...At Least in Europe
Apple Will Be Forced to Switch Its Chargers by 2024...At Least in Europe

Ford Has Good EV News for Investors (but Tesla Is Laughing)

The company is making progress on its EV goals, but it still has a very long way to go.

Manufacturer recalls of electric vehicles aren't discouraging consumers from continuing to buy EVs as sales continue to rise.

Tesla in February recalled 817,000 vehicles because a seatbelt warning might not work properly, and on Sept. 19, Tesla recalled 1.1 million EVs because the power windows may close too fast and could pinch a driver or passengers. The earlier recall hasn't affected Tesla sales, and the latest one mostly likely won't hurt either.

Tesla, which is by far the world's leading EV manufacturer, delivered 343,830 vehicles in the third quarter, which was a 42.5% increase over the same period in 2021 when it delivered 241,300 cars. The Austin, Texas, EV maker is expected to deliver about 1.21 million EVs in 2022.

Ford in June issued a safety recall on 48,924 of its Mustang Mach-E electric vehicles for a software update to prevent overheating of the vehicles' high-voltage battery main contactors. The issue can cause an overheated relay switch to open while driving and result in a loss of motive power, which can increase the risk of an accident. Ford had not issued instructions to stop driving the Mustang Mach-E under the recall.

That mechanical problem with the Mustang Mach-E apparently didn't prevent many EV fans from buying Ford vehicles either.

Ford F-150 Lightning Lead

Ford EV Sales Tripled in September

Ford on Oct. 4 reported that its EV sales tripled in September compared to the same period in 2021 with 4,691 vehicles sold for a 197.3% increase over the 1,578 sold last year. The big difference between the two periods was that Ford only offered the Mustang Mach-E in 2021.

Ford ramped up sales of the Mustang Mach-E in September to 2,324 vehicles for a 47.3% increase over last year, while it also rolled out the F-150 Lightning, with 1,918 sold in the month, and the E-Transit van, with 449 sold. Ford has sold 8,760 F-150 Lightning pickup trucks since it was launched in June. Ford rolled out the E-Transit in February.

Ford, however, only sold a total of 18,257 EVs in the third quarter, compared to Tesla's 343,830. The automaker has sold 41,236 EVs in the first three quarters of 2022. The company said that its sales amount to about a 7% share of the total EV segment.

The company in a statement asserted that its F-150 Lightning was America's best-selling electric pickup truck in September, while the E-Transit was the country's best-selling electric van.

Ford Launching New Van

Ford on Sept. 8 said that it will launch its new E-Transit Custom all-electric van in Europe, which will begin production fall 2023 at the company's Kocaeli, Turkey facility. The E-Transit Custom will have a range of 380 km or 236 miles, 125 kW fast charging battery, 2,000 kg or 2.2 tons towing, and up to 1,100 kg or 1.2 tons payload.

“Ford Pro and the E-Transit Custom are redefining what a commercial vehicle can do – powering working people and businesses into a new digital age,” Ford CEO Jim Farley said in a statement. “Our customers made Transit Custom the most popular commercial vehicle in Europe, and we’ve listened to those customers for well over 50 years. The new E-Transit Custom was designed and engineered to meet their needs – a Transit for the new era, but one that can still get its hands dirty when a job needs doing.”

Ford's overall sales for September, including EVs, internal combustion engine vehicles and hybrids, were 142,644, an 8.9% decline from a year earlier.