January 6, 2025 – As the Dodge Challenger and Chevrolet Camaro bowed out of production, the Ford Mustang emerged as the sole representative of the American muscle car segment. However, this unopposed market position did not translate into sales growth for the iconic pony car. Instead, the Mustang suffered its worst sales performance in history in 2024, with only 44,003 units sold, marking a 9.5% year-on-year decline. Notably, this is the second time in three years that the Mustang has hit a record low in sales.
Surprisingly, Ford’s all-electric SUV, the Mustang Mach-E, witnessed a significant surge in sales in 2024, increasing by 26.9% to reach 51,745 units. This impressive feat allowed the Mach-E to surpass the classic Mustang coupe and become the highest-selling “Mustang” named vehicle in Ford’s lineup. Although some traditional enthusiasts argue that the Mach-E is not a true Mustang, its market performance has undoubtedly become a new growth driver for the automaker.
The Mustang’s sales have been on a rollercoaster ride in recent years. In 2022, its sales dropped to 47,566 units, surpassing the Camaro but still falling behind its longtime rival, the Dodge Challenger. The Mustang regained the muscle car sales crown in 2023 with 48,605 units sold, but its sales slipped again in 2024.
The success of the Mustang Mach-E is not only reflected in its sales figures but also in its contribution to Ford’s overall performance. In 2024, the Mach-E’s sales not only exceeded those of the Ford Ranger (46,205 units, up 42.9%) and the F-150 Lightning (33,510 units, up 38.7%) but also surpassed all models from the Lincoln brand. Analysts suggest that dealer incentives may have played a crucial role in the Mach-E’s sales growth, but its market performance undoubtedly demonstrates the success of Ford’s electrification strategy.
Additionally, Ford’s other models also delivered strong performances. The Explorer maintained its position as the best-selling three-row SUV in the United States, with sales of 194,094 units, representing a 3.9% year-on-year increase. The rugged off-road vehicle, the Bronco, sold 109,172 units, up 3.3%, while the Maverick pickup achieved remarkable growth of 39.4%, with sales reaching 131,142 units.
Overall, Ford’s sales increased by 3.1% in 2024, rising from 1,914,094 units to 1,974,009 units. Electric and hybrid models stood out, with pure electric vehicle sales growing by 34.8% and hybrid sales (including Ford and Lincoln brands) increasing by 40%. Traditional gasoline-powered vehicles, on the other hand, saw only a marginal increase of 0.2%.
