Ford Motor Co‘s (NYSE:F) electric SUV Mustang Mach-E was the number two bestselling SUV in the U.S. last year after Tesla Inc‘s Model Y. But this year is not looking so bright for the vehicle model so far.
Dwindling Mach-E Demand:
In the first two months of 2024, Ford sold a total of 4,225 Mach-E vehicles, down 4.2% year-on-year. Sales were more disappointing in January when the company witnessed sales drop by about 51% as compared to the corresponding month of 2023. February saw sales rise back up, possibly due to the company cutting prices on 2023 model-year vehicles by as much as $8,100 mid-month.
The price cuts from February ranged between $3,100 and $8,100 for different versions of the SUV and brought the starting price of the vehicle down to $39,895, cheaper than its chief rival Model Y which now starts at $43,990.
Rising Rush For Adapters To Charge On NACS Superchargers:
In 2023, Ford saw Mach-E sales rise 3.3% year-on-year to touch 40,771 units. The SUV was the best-selling EV from Ford, possibly why the company announced the kickstart of its supercharger access agreement with Tesla with pictures of the SUV.
Late last month, Tesla opened its supercharger network ...