Ford Motor Co (NYSE: F) has stopped new online orders for the 2022 edition of the Mustang Mach-E due to high demand, the company’s website showed on Monday.
What Happened: Dearborn, Michigan-based Ford has listed four Mach-Es priced between $43,895 to $61,995 as currently “not available for order,” on its website.
Ford is citing high demand and directing buyers to dealerships to check on inventory.
“Due to high demand, the current model year is no longer available for retail order,” Ford’s website says.
“Limited inventory may be available at selected dealers.”
See Also: Ford Sold Half As Many Mustang Mach-E EVs As The Gas Variant In 2021 — The First Year Of Launch
Electrek first reported the development.
Mach-E Sales & Production: Ford sold 6,734 Mach-Es in the first quarter of 2022, a rise of 1.8% year-on-year basis, but an 18.7% fall from the previous quarter.
The automaker in February faced production challenges linked to semiconductor shortages, forcing it to idle eight of its plants in the U.S. and Mexico.
Ford aims to triple its Mach-E output to 200,000 units by 2023. The company plans to utilize the entire Cuautitlan plant in Mexico for the Mach-E, a spokesperson told Benzinga via email.
Ford said it will open orders for the 2023 edition of the Mach-E soon.
The automaker made 18,152 Mach-Es in the first quarter, a rise of 22.5% on a year-on-year basis and 45.6% over the December quarter.
See Also: Ford Emphasizes Tesla-Like Strategy, Says Online Sales To Be A 'Bigger Part' Of Its Future
Ford began selling the Mach-E, its first all-electric crossover, in December 2020. At the time, the automaker sold just three units of the model. Mach-E competes with Tesla Inc’s (NASDAQ: TSLA) Model Y.
Price Action: Ford stock closed 1.23% higher at $15.7 a share on Monday.
