
In the third quarter, Ford Motor’s U.S. new vehicle sales experienced a 7.7% increase compared to the same period the previous year, primarily driven by higher sales of traditional pickup trucks throughout its product range.
On Wednesday, the Detroit automaker reported a substantial 15.3% surge in truck sales, contrasting with a 5.1% dip in car sales and essentially flat sales of SUVs.
Ford’s sales growth aligned with the expectations of automotive authority Edmunds for the company but fell short of the broader auto industry’s forecasts, which anticipated a third-quarter increase of 15% to 16%.
During the quarter, Ford witnessed a 14.8% increase in sales of electric vehicles, reaching nearly 21,000 units, CNBC reported.
A significant portion of these sales comprised the Mustang Mach-E crossover, while sales of the F-150 Lightning electric pickup declined by approximately 46% due to lower-than-expected demand and production downtime.
Ford’s electric vehicle sales accounted for only about 3% of the roughly 1.5 million vehicles sold by the automaker in the first nine months of the year, with the third quarter representing 4.2% of total sales.
Furthermore, Ford’s hybrid sales, led by the F-150 and Maverick hybrid trucks, experienced a robust third-quarter performance, with 34,861 vehicles sold, marking a remarkable 41.4% increase compared to the prior year.
Despite an ongoing strike by the United Auto Workers union affecting Detroit automakers, including Ford, it was not anticipated to have a significant direct impact on sales during the quarter.
