In May, Ford sold a lot more cars in the United States, mainly because people bought more hybrid vehicles and trucks.
During the month, Ford sold 190,014 cars, which is 11.2% more than last year and 6.4% more than in April. They sold 17,631 hybrid cars, especially the new F-150 hybrid and Maverick hybrid.
The Maverick did really well, with sales going up by almost 96%. They sold 13,616 trucks in May. The hybrid version of the Maverick saw a huge increase of 111%, with 7,687 trucks sold. Ford said they sold more Maverick pickup trucks and hybrid trucks in May than ever before.
The brand-new F-150 pickup truck, which had fewer sales earlier this year because it took a bit longer to start selling, did much better in May. Ford sold a total of 109,143 trucks in May, which is an 11.2% increase. They sold 87,786 regular pickup trucks. Sales of the hybrid version of the F-150 went up by 51%, with 5,766 trucks sold.
Ford’s CEO, Jim Farley, said that hybrid cars are not just a temporary thing. He believes they will continue to sell well for a long time.
Ford is also doing well with electric cars. They sold 8,966 electric vehicles (EVs) in May, which is 64.7% more than last year. The Mustang Mach-E SUV sales went up by 45.9%, F-150 Lightning by 91%, and E-Transit commercial van by 77%.
Even though Ford is selling more EVs, they sometimes have to offer deals to get people to buy them. Even with the strong sales of EVs in May, Ford’s EV unit lost $1.32 billion in the first quarter of the year and is expected to lose over $5 billion in 2024.
Ford hopes their EV unit will start making a profit by 2026, but they haven’t given an update on that recently. Farley said he knows when they’ll start making money from EVs, but he didn’t say when.
For now, Ford will keep focusing on selling trucks, hybrids, and SUVs. They sold 7.4% more SUVs in May, with the full-size Bronco, Ford Explorer, and full-size Expedition leading the sales.
