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

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The 2022 Ford Maverick.

Ford

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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