Despite a lack of direct competition, sales of the traditional gasoline Ford Mustang coupe and convertible were down in 2024, and they were again outsold by the electric Mustang Mach-E.
Last year marked the first full year of production for the redesigned 2024 Ford Mustang, codenamed S650, after its introduction partway through the 2023 calendar year. It managed 44,003 sales—down 9.5% from 2023, year over year.
2024 Ford Mustang Dark Horse at Charlotte Motor Speedway, July 2023
When asked about the sales dip, Ford spokesperson Mike Levine noted that the automaker experienced supply issues with the Mustang’s 2.3-liter turbo-4 engine through the second half of 2024, leading to tight inventories through that period.
Mustang Mach-E sales, on contrast, saw a 26.9% increase, year over year. Ford sold 51,745 of the electric SUVs in 2024, compared to 40,771 in 2023. While not redesigned, the Mach-E received some updates for the 2024 model year, including a new Rally grade.
2024 Ford Mustang Mach-E Rally
This isn’t the first time supply chain issues have slowed sales of the gasoline Mustang. In the midst of a global chip shortage in 2021, Ford chose to build more electric Mustangs than gasoline ones, even though the gasoline models were selling better at the time. Mach-E sales soon picked up, though, perhaps helped by Ford’s decision to aim for higher production volumes from the get go—which isn’t always the case with EV launches.
The gasoline Mustang can at least claim one more sales victory over its traditional rivals—the Chevrolet Camaro and Dodge Challenger. Both muscle cars ended production in December 2023, but there was still significant inventory left on dealer lots throughout 2024. The Challenger outsold the Mustang as recently as 2022. Its Charger replacement is now arriving in electric Daytona form, with a gasoline inline-6 powertrain following soon.
