Ford gross sales charged larger in February, making the Dearborn-based automaker the No. 1 vendor in America for the second straight month. Ford additionally famous hybrid and EV gross sales features, highlighting the significance of its electrified powertrains.
Ford reported February gross sales have been up 10.5% to 174,192 autos, topping Toyota’s whole of 159,262. Curiously, hybrid gross sales jumped 31.5% to barely over 12,000 items, powered by file gross sales of the Maverick hybrid compact pickup and the Ford Escape small SUV hybrid.
Ford’s EV gross sales — consisting of the Mustang Mach-E crossover and F-150 Lightning pickup — noticed gross sales soar 80.1% 12 months over 12 months in February to six,368 items offered. Deep worth cuts of the Mustang Mach-E and Lightning EV in February possible jump-started gross sales. Ford shares have been up over 3% in early commerce on Monday.
Trying deeper into the truck classes, for the month of February F-Collection truck gross sales have been really down 5.8% from a 12 months in the past. Nevertheless, SUV gross sales have been up 23.7% in February to almost 85,000 items.
By way of the primary two months of the 12 months, Ford mentioned it offered 165,901 vehicles and vans, making it the top-selling truck maker within the U.S., outselling GM by 26,000 vehicles. Word that GM doesn’t report month-to-month gross sales knowledge, so that is possible an approximation.
Ford additionally mentioned F-Collection pickup gross sales hit 100,531 via February, with Ford claiming it’s America’s best-selling truck, outselling the Silverado by greater than 21,000 vehicles. Once more, word that Silverado gross sales are possible an approximation and if Silverado gross sales are mixed with GMC Sierra full-size pickup gross sales, GM can be extra aggressive, if not the biggest truck maker within the U.S.
Nonetheless, Ford’s robust truck gross sales to start out the 12 months come regardless of the automaker solely simply beginning deliveries of 2024 mannequin 12 months F-150s. Ford is starting to ramp up gross sales of these 2024 autos, beginning with the entry-level XL and STX trims, and ultimately increasing to larger trim ranges.
As well as. the 2024 Lightning EV is at the moment underneath a “stop-ship” order at Ford, reportedly as a result of a minor headlight difficulty. Ford Lightning gross sales in March could also be impacted by this, however there appears to be sufficient 2023 stock to maintain Lightning gross sales going.
Throughout Ford’s rivals that do report month-to-month gross sales, the final development has been optimistic for the automakers. Honda reported gross sales of barely over 100,000, notching a 37.8% soar in February, although its Acura division’s gross sales fell 6%.
Hyundai set a gross sales file in February up 6% to 60,341; gross sales at Kia fell for the third straight month to 60,859, down 3%. Nevertheless, each Hyundai and Kia noticed robust gross sales features with EVs.
As famous above, Toyota reported gross sales of 165,900 items (up 16%), with gross sales hitting 184,450 together with its Lexus division (up 17%). Toyota mentioned electrified car (hybrid and EV mixed) deliveries jumped 84% to 68,445.
Pras Subramanian is a reporter for Yahoo Finance. You’ll be able to observe him on Twitter and on Instagram.
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