Ford Mustang EV outsells its ICE namesake

Ford has reported selling a total of 51,745 Mustang Mach-E SUVs last year, an impressive 26.9% bump over 2023. The demand for gas-powered Mustang coupes and convertible has fallen by 9.5% over the same period, to 44,003 units.

According to The Drive, the trend may continue in 2025. With numerous lease and tax incentives reducing the ownership cost of the Mach-E, the normal Mustang suddenly becomes the less affordable option.

This is not to say that EVs are popular again: since its launch a couple of years ago, the entry-level Mach-E has gone down from $41,990 to $38,490 in the USA before any incentives. At the same time, the basic Mustang EcoBoost 2.3L starts from $33,515, and its 5.0-liter V8 counterpart begins from $44,455 before any trim options.

The case of the Ford Mustang Mach-E is worth studying because the SUV itself is far from new. It hasn’t received a single facelift in the traditional sense of the term yet, but Ford gave it a torque-happy rear motor, faster charging and more range last year. Perhaps these improvements were exactly what the potential buyers were looking for.

As for the traditional Mustang coupe and convertible, a refresh in 2023 did very little to keep them afloat. The Mustang still remains one of the best-selling models in the US, but only because its main rivals from Dodge and Chevrolet lag even further behind.