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Ford Is the Latest Carmaker To Report Solid 'Green' Vehicle Sales

Ford Reports Solid Hybrid, EV Sales Growth

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Bill McColl
Bill McColl
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Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

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Published July 03, 2024
02:48 PM EDT
Ford Motor Co. sign over a car lot

David Paul Morris / Bloomberg via Getty Images

Key Takeaways

  • Ford followed General Motors in reporting strong quarterly sales growth in electric and hybrid vehicles. Hybrid vehicle sales rose to a quarterly record, while EV sales jumped 61%.
  • Pure-play EV makers Tesla and Rivian also posted solid second-quarter deliveries this week.
  • Combined Ford truck sales rose more than 4% to above 300,000.

Ford (F) reported solid second-quarter sales of its hybrids and electric vehicles on Wednesday, with overall sales growth coming in at about 1%.

Ford on Wednesday said it sold 536,050 vehicles in the quarter, 0.8% higher than the same period in 2023. Sales of its hybrid Maverick pickup jumped 81%, helping the company hit a record of 53,822 hybrids sold. Sales of the electric F-150 Lightning jumped 77% to 7,902.

Combined, Ford truck sales were up 4.5% to 308,920. Total sales of F-Series trucks, the most popular vehicles in the U.S., declined 6.1% to 199,463.

Ford's Hybrids, EVs Driving Growth

Hybrid and electric vehicles, along with post-purchase add-ons like hands-free highway driving options, are driving growth at Ford, according to Ford Blue President Andrew Frick.

Electric vehicle (EV) sales came in at 23,957, a 61% increase. More than half of the gains were produced by the Mustang Mach-E, which saw sales rise 47% to 12,645. 

It's been a strong week for EV sales. Along with Ford and General Motors (GM), pure-play EV manufacturers Tesla (TSLA) and Rivian Automotive (RIVN) also posted solid quarterly delivery numbers.

Ford shares have gained about 5% so far this year. They were little changed in Wednesday's holiday-shortened trading session, closing at $12.85.

F year-to-date stock-price performance

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  1. Ford Motor Co. "Best-Selling F-Series, Vans Lead in Q2; Hybrids Grow 56%, EVs Up 61%."

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