Ford Motor’s U.S. sales surged 10.5% last month compared with February 2023, driven by growth in its hybrid and all-electric vehicle sales.
The Detroit automaker announced Monday that it had sold 174,192 cars and trucks in February. This included an 81% increase in EV sales and approximately a 32% rise in hybrid models. Sales of conventional internal combustion engines also saw an uptick, rising 7.5% from the same month a year earlier.
The surge in hybrid sales aligns with Ford’s strategy to amplify its investment in the technology. The company disclosed that hybrid sales reached 12,045 in February, with 6,463 units of its compact Maverick Hybrid pickup contributing to the figures.
Ford’s EV sales have shown variability month to month, influenced by demand and pricing dynamics. All-electric vehicle sales for Ford saw a notable increase last month, with significant growth recorded across the board. This included a 64.3% surge in sales of its Mustang Mach-E crossover and nearly a doubling in sales of the all-electric F-150 Lightning pickup.
Despite the growth in hybrids and EVs, traditional cars and trucks accounted for 89.5% of Ford’s sales last month.
Sales of Ford’s lucrative F-Series pickups experienced a 5.8% decline last month, with 51,829 units sold. The rollout of new 2024 models of the pickup faced delays due to an undisclosed quality issue, as reported by Automotive News last month.
In response to quality and warranty concerns, Ford CEO Jim Farley has implemented stricter testing and quality assurance measures during new vehicle launches.
Ford reported that total year-to-date sales through February reached 311,325 units, marking a 6.6% increase compared with the same period a year earlier.
During Monday morning’s trading, Ford’s shares surged by over 4%. Rivals General Motors and Stellantis, which do not report monthly sales, saw their shares rise by about 1% each.
