Mustang Mach-E on display at the Recent York International Auto Show, March 28, 2024.
Danielle DeVries | CNBC
DETROIT – Ford Motor U.S. fresh vehicle sales rose 11.2% last month from last May, helped by sturdy growth in sales of full electric and hybrid models.
Automaker from Detroit on Tuesday he announced sales of hybrid and fully electric vehicles escalate by approximately 65%. By comparison, sales of Ford’s established combustion engine vehicles increased 5.6%.
Despite a noticeable escalate in the number of hybrid and electric vehicles, total sales in these segments amounted to approximately 26,600 vehicles. That’s just 14% of the automaker’s total sales last month of more than 190,000 units.
The growth in electric vehicle sales is a mystery to investors. Ford is looking to boost sales of electric vehicles to expand scale and assist offset tightening fuel economy and emissions standards, but the company’s Model E electric vehicle has suffered huge losses.
In April, Ford said its division lost $1.32 billion on 10,000 vehicles sold wholesale from January to March. While the unit also includes electric vehicle businesses such as software, these losses equate to a loss of $132,000 for each vehicle sold by the unit.
In May, Ford nearly doubled sales of its all-electric F-150 Lightning pickup trucks compared to May 2023. Sales of the Mustang Mach-E EV also increased, up 46% year over year.
The surge in hybrid vehicle sales is part of Ford’s plan to double its apply of the technology. Earlier this year, the automaker said it would delay production of fresh fully electric vehicles to instead focus on offering hybrid options across its entire North American vehicle lineup by 2030.
Ford reported total U.S. sales through May of 877,685 units, up 5.6% from the same period in 2023. The main reason for the sales was an escalate in SUV sales of about 10% and an escalate in truck and truck sales. van by 2.5%. turnover.
