Ford EV Sales Surge by 86% in Q1 2024
Recognized as America's leading truck seller, Ford reported a significant increase in hybrid vehicle sales, marking a record quarter. Ford's electric vehicle sales in Q1 2024 increased by 86%, establishing the company as the second-largest EV brand in the U.S.
The Ford Transit van maintained its position as America's top-selling van, beginning the year with record sales. With the availability of the Ford F-150 Lightning, Ranger, and Lincoln Nautilus, and upcoming launches including the Ford EV Explorer, Expedition, Mustang Mach-E Rally, Lincoln Aviator, and Navigator, Ford is positioned for growth in 2024. Ford EV sales in Q1 2024 have underscored the company's role in the electric vehicle market.
Ford's product mix across gas, hybrid, and electric vehicles contributed to a 7% increase in Ford and Lincoln U.S. sales, outpacing industry averages. This growth coincides with Ford EV sales in Q1 2024. The company's success in the hybrid market is notable, with the Ford Maverick leading as the top-selling hybrid truck in the U.S. for the first quarter. Maverick Hybrid sales grew by 77% year-over-year.
Ford's hybrid vehicle sales in Q1 were up 42%, setting a new record. The Ford EV sales in Q1 2024, combined with strong hybrid sales, reflect the company's market presence in these segments.
Ford's position in the truck market is reinforced by its performance in electric vehicle sales, with Ford EV sales in Q1 2024 highlighting the company's market adaptation. The sales achievements reflect Ford's product offerings and indicate potential growth in the electric and hybrid vehicle market.
The increase in Ford's electric vehicle sales by 86% in Q1 2024 reflects a strategic response to the growing market demand for sustainable transportation options. This performance, alongside a record quarter for hybrid vehicle sales, indicates Ford's effective adaptation to industry trends and consumer preferences towards electrification. The concurrent strength in traditional segments, such as trucks and vans, where Ford maintains market leadership, suggests a balanced approach in transitioning to electric models while sustaining its core business.
The Ford EV sales in February 2024 significantly boosted the company's U.S. sales, increasing by 81%. Ford remained the market leader for the second straight month, thanks to strong sales in its hybrid and electric vehicle segments.
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Source: Ford
