We See you, Tesla... And We Raise you, Ford

January 14, 2022

The Electric Vehicle Tipping Point

In December LikeFolio data revealed a major tipping point looming on the horizon: a massive consumer preference for electric vehicles was unfolding.

To be frank, this shift in consumer acceptance was smacking us in the face.

Consumer mentions of purchasing an electric vehicle had increased more than +170% YoY at the time of our December MegaTrends EV Report publish…

Since then, electric vehicle demand growth has only accelerated.

More than half of U.S. adults say they are likely to consider purchasing an electric vehicle in the next decade, significantly higher vs. 39% a year ago. We saw this coming from a mile away.

Consumer demand for companies like Tesla, Rivian, and Lucid Motors who produce only electric vehicles is still booming.

But data suggests we need to add another name to our EV winners circle: Ford.

Just check out the YoY demand growth for the major players in the auto segment.

Did you catch that?

Ford jumped up a spot in LikeFolio demand growth rankings, sneaking itself right between Rivian and Tesla…an impressive feat for the auto industry dinosaur.

Especially impressive considering Tesla’s recent feat: the company delivered more than 936,000 vehicles in 2021, almost double the number delivered in 2020, shocking analysts.

But the driver of Ford’s recent demand surge shouldn’t surprise anyone…

The top three brands driving Ford's demand growth are tied to the electrification of its line-up.

Reported figures from Ford itself confirm LikeFolio data:

  • F-150 Lightning reservations topped +200,000 by December 2021. This prompted Ford to double its Lightning production plans (again) to 150,000 units/year by 2023.
  • Ford is tripling its Mustang Mach-E production to +200,000 units by 2023, noting, “it’s hard to product Mustang Mach-Es fast enough to meet the incredible demand, but we are sure going to try.”

Consumer mentions reveal a diverse audience clamoring for Ford’s all-electric truck, further reinforcing our tipping point thesis: price and performance continue to attract new buyers…county lines aside.

Ford isn’t slated to report Q4 earnings until February, but initial LikeFolio data looks incredibly positive.

Keep an eye on this one…any pullbacks present as accumulation opportunities for long-term investors.

Much like Tesla a few years ago, LikeFolio’s data for Ford is extremely forward-looking.

And if Ford can execute…no brakes.

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