Ford Motor Co (NYSE: F) on Wednesday reported a sequential bounce in Mustang Mach-E sales in March, even as gas-driven versions of the cars dropped appreciably amid semiconductor shortages and production halts.

What Happened: The Dearborn, Michigan-centered corporation marketed 2,363 Mach-Es in March, a jump of about 18% more than February but a decrease of 10% yr-on-calendar year.

Ford began selling the Mach-E, its first all-electric crossover, in December 2020. At the time, the automaker sold just a few units of the design.

For the very first quarter of 2022, Ford sold 6,734 Mach-Es, 1.8% better than a 12 months previously. Gross sales, however, fell 18.7% from the fourth quarter of 2021.

The Mustang Mach-E competes with Tesla Inc’s (NASDAQ: TSLA) Model Y compact crossover.

See Also: Ford Mustang Mach-E Profits Almost Halve In February, Mark Even bigger Fall Than Gas-Driven Edition

Gasoline Model Sales: Ford’s legendary gasoline-powered Mustang income arrived in at 3,615 models in March, a drop of 50.5% calendar year-on-yr and 23% from the preceding month.

For the first quarter, Ford sold 13,986 fuel-driven Mustangs, a 19% drop from a 12 months before, but 23.2% greater on a sequential foundation.

Ford now helps make the Mach-E for the U.S. and European markets at a plant in Mexico and recently started delivering regionally built styles in China.

The legacy automaker is envisioned to start off professional output of the F-150 Lightning — the electric version of its very best-providing truck in the spring. 

Ford experienced previous thirty day period break up its EV and inside combustion firms as it looked to enhance profit margins and enhance operational effectiveness.

See also  The Makeup of a Successful Sales Organization

Cost Motion: Ford inventory shut .06% greater at $16.6 a share on Monday.

Picture courtesy: Ford

© 2022 Benzinga does not give expense tips. All rights reserved.

By info