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Ford gross sales surged in February, making the Dearborn-based automaker the No. 1 vendor within the U.S. for the second month in a row. Ford additionally famous beneficial properties in hybrid and EV gross sales, highlighting the significance of its electrified powertrains.
Ford reported gross sales rose 10.5% in February to 174,192 automobiles, surpassing Toyota's complete of 159,262. Apparently, hybrid gross sales elevated 31.5% to barely greater than 12,000 items, led by document gross sales of the Maverick Hybrid compact pickup and Ford Escape small SUV hybrid.
Ford's EV gross sales – which embrace the Mustang Mach-E crossover and F-150 Lightning pickup – surged 80.1% 12 months over 12 months in February to six,368 items offered. A steep worth reduce for the Mustang Mach-E and Lightning EV in February is prone to increase gross sales. Ford shares have been up greater than 3% in early buying and selling on Monday.
Trying deeper into truck classes, F-Sequence truck gross sales within the month of February have been really down 5.8% from a 12 months earlier. Nonetheless, SUV gross sales rose 23.7% to almost 85,000 items in February.
Ford mentioned it offered 165,901 vehicles and vans within the first two months of the 12 months, making it the best-selling truck maker within the US, and 26,000 extra vehicles than GM. Word that GM doesn't report month-to-month gross sales knowledge, so that is in all probability an estimate.
Ford additionally mentioned that gross sales of the F-Sequence pickup reached 100,531 by February, with Ford claiming it to be America's best-selling truck, surpassing Silverado gross sales by greater than 21,000 vehicles. Once more, be aware that Silverado gross sales are projected and if Silverado gross sales have been mixed with GMC Sierra full-size pickup gross sales, GM could be extra aggressive than, if not the, largest truck maker within the US.
Nonetheless, Ford's robust truck gross sales initially of the 12 months come because the automaker has simply begun deliveries of the 2024 mannequin 12 months F-150. Ford is beginning to improve gross sales of these 2024 automobiles, beginning with the entry-level XL and STX trims and finally increasing to increased trim ranges.
Apart from this. The 2024 Lightning EV is presently beneath “stop-ship” order at Ford, reportedly resulting from a minor headlight problem. Ford Lightning gross sales in March could also be affected by this, but it surely appears like there may be sufficient 2023 stock to maintain promoting the Lightning.
Amongst Ford's opponents that report month-to-month gross sales, the final development for automakers has been optimistic. Honda reported gross sales of simply over 100,000 in February, up 37.8%, though gross sales at its Acura division fell 6%.
Hyundai hits document February gross sales rise 6% to 60,341; Kia gross sales fell for the third consecutive month, falling 3% to 60,859. Nonetheless, each Hyundai and Kia noticed robust gross sales beneficial properties with EVs.
As talked about above, Toyota recorded gross sales of 165,900 items (up 16%), together with its Lexus division (up 17%) the place gross sales reached 184,450. Toyota mentioned electrified car (hybrid and EV mixed) deliveries rose 84% to 68,445.
Prasad Subramaniam is a reporter for Yahoo Finance. you’ll be able to observe him Twitter and on Instagram,
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