Ford hybrid vehicle sales surge to offset EV decline in January

Detroit- Ford At the beginning of the year, sales increased slightly because Significant growth in hybrid vehicles offset an 11% decline in all-electric cars and trucks.

detroit automakers Friday report Sales last month increased by 4.3% compared with January 2023, of which hybrid vehicle sales increased by 43% and traditional internal combustion engine vehicle sales increased by 2.6%. Ford sold 152,617 vehicles last month.

The surge in hybrid sales is part of Ford’s plan to invest more in technology. Demand for hybrids has increased, while consumer adoption of electric vehicles such as the F-150 Lightning pickup and Mustang Mach-E crossover has been slower than expected.

Mach-E sales were down 51% at the start of the year, while F-150 Lightning sales were down less than 0.5%. Ford is ramping up production of its E-Transit electric van, with sales of the vehicle rising to more than 1,100 in January from fewer than 400 a year ago.

Despite the focus on hybrids, 90% of Ford’s sales last month were conventional cars and trucks. Hybrid vehicles, led by the Ford Maverick pickup truck, accounted for 7.3% of sales. Sales of electric vehicles were less than 5,000, accounting for about 3%.

Sales of Ford’s lucrative F-Series pickup truck fell about 12% last month to about 48,700 units.

Ford will report fourth-quarter and year-end earnings after the bell on Tuesday, days after reporting January sales.

Earlier this week, Ford’s crosstown rival General Motors The results and 2024 guidance released exceeded Wall Street expectations.

General Motors’ stock price rose significantly after the earnings report was released, with the stock price rising more than 7% this year. Ford’s stock price has fallen by about 1% in 2024.

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