Ford Reports Surge in EV and Hybrid Sales for Q2 2024

Ford Reports Strong Growth in EV and Hybrid Sales, Despite Challenges in ICE Segment. Mustang Mach-E and F-150 Lightning Lead Sales Increase.

Ford’s electric vehicle (EV) sales are on the rise, marking a significant shift despite slower industry-wide adoption. In the second quarter, Ford saw a 61.4% increase in EV sales compared to last year, reaching 23,957 units. Year-to-date, their EV sales hit 44,180 units, up by 71.8% from the previous year—indicating substantial growth, albeit from a relatively low base.

Notably, the Mustang Mach-E saw a 46.5% increase, selling 12,645 units in Q2. The F-150 Lightning also performed well with a 76.9% increase to 7,902 units, and the E-Transit showed a remarkable 95.5% growth, reaching 3,410 units.

Hybrid vehicle sales also surged, up 55.6% to 53,822 units, setting a new quarterly record largely driven by electrified pickups.

In contrast, Ford’s internal combustion engine (ICE) lineup faced challenges, with the Bronco Sport and Escape sales declining by 15.3% and 13.2% respectively. The discontinuation of the Edge, despite generating 16,522 sales, added to the mixed performance of their ICE vehicles.

On the hybrid front, the Maverick Hybrid emerged as a leader with 40,420 units sold in the first half of the year, attracting a significant number of customers from other brands. The F-150 also performed well with 33,674 units sold year-to-date, benefiting from a refreshed model.

Looking ahead, despite some model challenges, Ford remains optimistic with strong sales figures from SUVs like the Expedition, which sold 21,747 units in Q2, and significant growth in the Maverick and Transit models, up 81% and 32% respectively.