Ford sales increased 10.5% in February, driven by increases in EVs and hybrids

Ford Motor’s U.S. sales increased 10.5% last month over February 2023, driven mostly by sales growth for its all-electric and hybrid cars.

The Detroit-based carmaker revealed its February sales figures, which came in at 174,192 vehicles and trucks. The figures showed an approximately 32% increase in hybrid cars and an 81% increase in EV sales. In the same month last year, sales of conventional internal combustion engines saw a 7.5% increase.

Ford’s strategy to focus more on hybrid technology includes the rise in sales of these vehicles. 12,045 hybrid vehicles were sold in February, according to Ford, 6,463 of which were the company’s compact Maverick hybrid truck.

Ford’s EV sales have varied from month to month depending on pricing and demand. All of Ford’s electric car sales increased last month, with the all-electric F-150 Lightning truck nearly tripling in sales and the Mustang Mach-E crossover seeing a 64.3% rise in sales.

In February, conventional automobiles and trucks accounted for 89.5% of Ford’s sales, despite the rise in hybrid and electric vehicle sales.

Sales of Ford’s extremely lucrative F-Series trucks decreased to 51,829 units last month, a 5.8% decrease. According to a story published by Automotive News last month, an unidentified quality issue caused a delay in the shipment of new 2024 pickup models.

Jim Farley, the CEO of Ford, has implemented stricter testing and quality checks during the introduction of new vehicles in response to quality and warranty difficulties.

According to Ford, sales through February of the entire year had reached 311,325 vehicles, up 6.6% over the same period the previous year.

Ford’s stock rose almost 4% during Monday’s early session. Competitors Stellantis and General Motors, which do not release monthly sales data, had increases of around 1% apiece.