Ford announced a 1% increase in sales during the second quarter compared to the same period last year. The highlight of this growth was the impressive 5% gain in truck sales, with a total of 308,920 vehicles sold. This marks Ford’s best second-quarter performance for trucks since 2019, showcasing the brand’s strength in this category. Specifically, the F-Series saw sales totaling 199,463 vehicles, demonstrating the popularity and demand for Ford’s truck models.
In addition to strong truck sales, Ford also experienced significant growth in its electric vehicle (EV) and hybrid segments. Sales of Ford electric vehicles reached 23,957 units during the second quarter, a notable 61% increase over the previous year. The success of models like the Mustang Mach-E and F-150 Lightning has attracted new customers to the brand, highlighting Ford’s commitment to innovation in the EV space.
Moreover, Ford achieved a new quarterly sales record for hybrid vehicles, with 53,822 units sold, reflecting a 56% increase. This milestone is particularly significant as Ford has been offering hybrid models for over two decades. The surge in hybrid sales aligns with the industry trend of leveraging hybrids to facilitate the transition to electric vehicles and meet stringent federal fuel efficiency standards.
The positive sales results from Ford come in the wake of its competitor General Motors (GM) also reporting a modest sales increase of 0.6% in the second quarter. GM achieved a total of 696,086 vehicle sales, marking its highest quarterly sales figure since the fourth quarter of 2020. Both Ford and GM surpassing market expectations for sales growth is a testament to the resilience and competitiveness of these key players in the automotive industry.
Despite overall market forecasts suggesting flat year-over-year sales for the second quarter, Ford’s performance stands out as a bright spot in the industry. Leading auto industry forecasters such as Cox Automotive and Edmunds anticipated stagnant sales trends, making Ford’s sales growth all the more impressive. The success of Ford in the second quarter reflects the brand’s strategic focus on key segments like trucks, electric vehicles, and hybrids, setting a positive trajectory for the company in the evolving automotive landscape.