Strong Performance in EVs and Hybrids Offset Decline in F-150 Sales
Ford (F) has joined other legacy automakers in announcing strong first-quarter sales, driven by a surge in demand for electrified vehicles (EVs) and hybrids. The company reported a 6.8% increase in US sales to 508,083 vehicles for Q1, with notable growth in its electrified product lineup.
Sales of Ford’s Maverick hybrid pickup soared by 77%, contributing to a 42% jump in overall hybrid sales. The company’s EV offerings, including the Mustang Mach-E and Ford Lightning EV, experienced impressive gains, with an 82% increase in EV sales compared to the same period last year.
Despite these successes, Ford faced challenges with flagship F-150 sales, which declined by 10.2% in the quarter due to a slow ramp-up of the all-new F-150 model. However, SUVs such as the Bronco Sport, Escape, Edge, and Expedition performed well, helping to bolster overall sales figures.
Investors have responded positively to Ford’s sales results, with the stock up nearly 2% in midday trade. Looking ahead, Ford remains optimistic about its prospects, particularly with the launch of new models like the F-150 and Ranger, as well as strong performances from its Lincoln brand vehicles.
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