Ford (F) gross sales jumped in August, with a heavy summer time car-buying season and ramp-up of its truck choices boosting outcomes.
For the month, Ford offered 182,985 automobiles within the U.S., a 13% soar from a yr in the past. Ford’s total U.S. gross sales climbed sequentially in comparison with July when gross sales stood at 173,000 items, a dip of 0.2%. Ford stated its August efficiency led to the model capturing an estimated 12.6% total market share, up 0.9% in comparison with final yr, which Ford stated made it the top-selling model within the U.S. for 2 months in a row.
Ford’s truck sales in August have been a spotlight for the Dearborn, Mich.-based automaker, with gross sales up 12% to a complete of 103,011 items. Ford additionally famous it was the primary month F-series truck gross sales topped 70,000 this yr, with that complete leading to a 12% acquire from a yr in the past. The elevate in Ford F-series gross sales comes after the automaker had a gradual begin to the yr in delivering its all-new 2024 F-150 pickup.
The opposite massive gross sales results of notice was Ford’s hybrid gross sales, which the corporate has been selling closely. Ford stated hybrid gross sales jumped 50% in comparison with final yr to 16,394 automobiles, with 12,000 of these for the Ford Maverick and Ford F-150 hybrid pickups.
Ford’s deeper pivot into hybrids comes as the corporate is within the midst of a technique shift. In mid-August, the corporate said it was canceling the upcoming release of a big, three-row electrical SUV in favor of leveraging hybrid know-how for its next-gen three-row SUVs. Ford additionally stated it’s “retiming” the launch of its upcoming next-gen electric truck — code-named “Undertaking T3” — to the second half of 2027, delaying the opening of an electrical truck plant in Tennessee.
Regardless of Ford’s resolution to push out capital outlays and the discharge of some EV merchandise, Ford’s present EVs are promoting effectively. In August Ford’s EV gross sales jumped 29% to eight,944 items, with the Mustang Mach-E (up 6%) and F-150 Lightning EV pickup (up 161%) making up the majority of gross sales.
Lastly, Ford’s luxurious division Lincoln has seen its rebound proceed as effectively, with gross sales up 49% in August to 9,841 automobiles offered. Lincoln’s new and buzzy Nautilus SUV powered the outcomes, up 57% making it the nameplate’s greatest August in 17 years. Ford additionally revealed its all-new Lincoln Navigator full-size SUV in Pebble Beach last month.
Pras Subramanian is a reporter for Yahoo Finance. You’ll be able to observe him on Twitter and on Instagram.
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