DEARBORN - Ford Motor Company (NYSE: NYSE:F) has reported a robust start to 2024 with a 7% increase in U.S. sales in the first quarter, outpacing the industry and setting records in hybrid and electric vehicle (EV) segments. Ford's hybrid vehicle sales soared by 42%, marking the company's best-ever quarter for this category, while its EV sales jumped by 86%.
The Ford Maverick emerged as America’s top-selling hybrid truck, with sales up 77% from the previous year, contributing to a total of 19,660 Mavericks sold. The overall success in hybrid sales was attributed to the growing customer preference for hybrid trucks and SUVs, with the Ford brand selling 38,421 hybrid vehicles in the first quarter.
Ford also solidified its position as the second best-selling EV brand in the U.S., trailing only Tesla (NASDAQ:TSLA). The Mustang Mach-E and the F-150 Lightning led the charge, recording sales increases of 77% and 80%, respectively. The E-Transit van also had its best quarter since its launch in 2022, with sales up 148%.
The company's traditional gas-powered vehicles also performed well. The F-Series trucks maintained their long-standing position as America's best-selling trucks, with 152,943 sales. The Ford brand SUVs experienced their best quarter ever, led by the Explorer, which was recognized as America’s best-selling three-row SUV.
Lincoln, Ford's luxury division, saw a 31% increase in sales, with the all-new Lincoln Nautilus starting strong with a 68% increase in sales over the same period last year.
Ford's commercial van segment also showed strength, with the Transit van achieving a 25% increase in sales, marking a record start for America's leading van.
The company is poised for further growth with the launch of the all-new 2024 Ford Ranger, which began sales in March, and the upcoming releases of new models including the Explorer, Lincoln Aviator, and Expedition.
This sales momentum is supported by Ford's focus on customer-centered services such as Pickup & Delivery and Mobile Service, as well as technologies like BlueCruise hands-free highway driving, which currently total 250,000 U.S. experiences a month.
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