Reports: Mustang Mach-E Already Taking Significant Market Share From Tesla
Foreword: Before we go too far, let's be clear that this author has never written a story about a "Tesla killer" from Ford. Elon Musk has said all along that he hopes other EVs and manufacturers join him in his goal to shift all automotive production to battery-electric vehicles. It's a big tent and there are plenty of seats at the table for great new BEVs.
Investors Business Daily is reporting that the new Ford Mustang Mach-E is directly impacting Tesla's dominant US market share of battery-electric vehicles. Here are the three big takeaways from the report which is based on an analysis by Morgan Stanley and Ford's just-announced sales results:
1) Ford sold 3,739 Mustang Mach-E crossovers last month (February). This is the first full month of sales for the new BEV which started sales in the last days of December.
2) While U.S. EV sales rose 34% in February, Tesla's share fell to 69% from 81%. The Ford Mustang Mach-E accounted for nearly 100% of the share loss
3) Nearly 70% of Mach-E orders are from competitive brands, while just over one-fifth were sold in California
In addition to the Mustang Mach-E being a head-to-head competitor with the Tesla Model Y, Toyota's RAV4 Prime is also earning business from existing Tesla owners. See our report titled "Tesla Owners Are Buying Toyota RAV4 Prime Plug-in Hybrids – Here’s Why." Those who need a more flexible vehicle in terms of long-range travel in rural areas, towing capacity, and other utility features like a spare tire, are adding a RAV4 Prime plug-in hybrid-electric vehicle to their Tesla household.
Watch for an update on how large the RAV4 Prime's sales have grown shortly as Toyota updates its sales figures. We would list Tesla's monthly sales by model, but Tesla does not provide them for the US market.
John Goreham is a long-time New England Motor Press Association member and recovering engineer. Following his engineering program, John also completed a marketing program at Northeastern University and worked with automotive component manufacturers. In addition to Torque News, John's work has appeared in print in dozens of American newspapers and he provides reviews to many vehicle shopping sites. You can follow John on Twitter, and view his credentials at Linkedin
Image of Tesla next to RAV4 Prime courtesy of owner Kevin O'Brien.