Ford’s Second Quarter Sales Increase Led by Trucks and EVs

Ford reported a 1% increase in sales during the second quarter compared to the same period last year. This growth was primarily driven by a 5% increase in truck sales, with a total of 308,920 trucks sold during the quarter. The F-Series, which is a part of Ford’s truck lineup, saw sales totaling 199,463 vehicles, marking the best second-quarter performance since 2019.

Surge in Electric Vehicle Sales

In addition to strong truck sales, Ford also experienced a significant increase in electric vehicle (EV) sales during the second quarter. Sales of Ford electric vehicles reached 23,957, representing a 61% increase over the previous year. The company attributed this growth to the popularity of its EV models, particularly the Mustang Mach-E and F-150 Lightning, which have been attracting new customers to Ford.

Ford also saw a surge in hybrid vehicle sales during the second quarter, with a total of 53,822 units sold. This marked a 56% increase over the previous year and set a new quarterly sales record for Ford since it first introduced hybrid models over 20 years ago. The company has been leveraging hybrids as a way to ease the transition to electric vehicles and meet increasingly stringent federal fuel efficiency standards.

Ford’s sales performance in the second quarter mirrors that of its crosstown rival, General Motors, which reported a 0.6% increase in sales during the same period. Both automakers exceeded market expectations, with GM achieving its highest quarterly sales mark since the fourth quarter of 2020. Industry analysts such as Cox Automotive and Edmunds had anticipated flat year-over-year sales for the overall market, making Ford and GM’s sales growth particularly noteworthy.

Ford’s second-quarter sales increase demonstrates the company’s success in capturing market demand for trucks, electric vehicles, and hybrids. By offering a diverse range of vehicles to meet varying consumer preferences and regulatory requirements, Ford has been able to outperform market expectations and position itself as a leader in the evolving automotive landscape.

Business

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