Ford's electric Mustang Mach-E is piling up on dealer lots as the automaker confronts an EV-inventory problem
- Ford is bullish about EVs. It's ramping up production and investing billions of dollars.
- But the automaker is having a hard time moving its inventory of Mach-E and Lightning EVs.
- Ford dealerships are selling fewer Ford EVs than they were this time last year.
Ford appears to have an electric vehicle-inventory problem.
In a sign that Ford's EV ambitions are still outpacing demand, the company's sales numbers, amount of EV supply, and dealer sentiment all indicate that the Blue Oval is sitting on more Mustang Mach-Es and F-150 Lightning pickup trucks than it can sell.
Ford dealers sold 86.4% of their Mach-E inventory within 30 days in the second quarter of 2022, but that figure — known as a turn rate — dropped to 27.7% in the same period of 2023 even as the automaker had more than twice as much inventory on the market, according to data from the analytics firm Cloud Theory.