In a remarkable performance, Ford Motor witnesses a 10.5% surge in U.S. sales for February compared to the same period last year, with hybrid and all-electric vehicles taking the lead. The Detroit automaker reported a total of 174,192 cars and trucks sold, showcasing an 81% spike in EV sales and a notable 32% uptick in hybrid models. Traditional internal combustion engine sales also rose by 7.5%, reinforcing Ford’s broad market appeal.
Ford’s strategic focus on hybrid technology is evident in its sales plan, as highlighted by a significant increase in hybrid sales, totaling 12,045 units in February. Notably, the small Maverick Hybrid pickup contributed 6,463 units to this surge. The fluctuating nature of EV sales is common for Ford, and last month witnessed an overall increase. Notable performances include a 64.3% rise in sales for the Mustang Mach-E crossover and nearly doubling sales for the all-electric F-150 Lightning pickup.
Despite the remarkable success in hybrids and EVs, traditional cars and trucks continue to dominate Ford’s sales, accounting for 89.5% of total sales in February. However, this diverse product portfolio positions Ford well in a rapidly evolving automotive market.
In specific product segments, the highly profitable F-Series pickups experienced a 5.8% dip in sales last month, with 51,829 units sold. The delay in shipments of the new 2024 models was attributed to an undisclosed quality issue, demonstrating Ford’s commitment to stringent testing and quality checks under CEO Jim Farley’s leadership.
Despite challenges, Ford’s year-to-date sales through February reached 311,325 units, marking a robust 6.6% increase compared to the same period last year. Investors responded positively, with Ford’s shares surging more than 4% during Monday morning trading. In comparison, rivals General Motors and Stellantis, who don’t report monthly sales, also saw a modest uptick of about 1% each.
