Home Automobile Ford hybrid automobile gross sales surge to offset EV decline in January

Ford hybrid automobile gross sales surge to offset EV decline in January


The 2022 Ford Maverick.


DETROIT — Ford Motor began the yr with a slight improve in gross sales, as a big soar in hybrid autos offset an 11% decline in all-electric automobiles and vehicles.

The Detroit automaker on Friday reported gross sales rose 4.3% final month from January 2023, led by a 43% soar in hybrid gross sales and a pair of.6% uptick in conventional autos with inner combustion engines. Ford offered 152,617 autos final month.

The spike in hybrid gross sales is a part of Ford’s plan to double down on the expertise. Demand for hybrids has elevated, whereas shoppers have adopted electrical autos such because the F-150 Lightning pickup and the Mustang Mach-E crossover extra slowly than anticipated.

Gross sales of the Mach-E dropped 51% to start the yr, whereas these of the F-150 Lightning dipped lower than half a %. Ford is ramping up manufacturing of its E-Transit electrical van, which elevated to greater than 1,100 items offered in January in comparison with lower than 400 a yr in the past.

Regardless of the concentrate on hybrids, 90% of Ford’s gross sales final month have been conventional automobiles and vehicles. Hybrids, led by the Ford Maverick pickup, represented 7.3% of gross sales. At lower than 5,000 items, EVs made up roughly 3%.

Gross sales of Ford’s extremely worthwhile F-Sequence pickups fell about 12% final month to roughly 48,700 items.

Ford launched its January gross sales days earlier than the automaker will report its fourth-quarter and year-end earnings Tuesday after the bell.

Earlier this week, Ford’s crosstown rival General Motors launched outcomes and 2024 steering that topped Wall Street’s expectations.

GM’s inventory bought a notable bump after earnings, and shares are up greater than 7% this yr. Ford’s inventory has fallen about 1% in 2024.

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