Ford continues to march toward its goal of being the top EV maker, reporting a stellar quarter and record sales of its hybrid lineup.
Tesla may be the top EV maker, but Ford has made no secret of its intention of passing up the younger company. If its latest results are any indication, the older company appears to be making headway. Ford says its sales increased 7%, outpacing the industry, driven by its best-ever quarter of hybrid sales.
The Ford Maverick was the best-selling hybrid truck in America in Q1, with sales of 19,660, an increase of 77% from the year-ago quarter. Meanwhile, overall hybrid sales came in at 38,421 units, an increase of 42 percent.
“With the new F-150 and all-new Ranger sales beginning in March along with the strong performance of our all-new Lincoln Nautilus and Nautilus Hybrid, we’re in a strong position to capitalize and grow as we move through 2024,” said Andrew Frick, president, Ford Blue. “And that’s before customers experience services like Pickup & Delivery and Mobile Service – now totaling 250,000 U.S. experiences a month – and technologies like BlueCruise.”
Outside of the hybrid market, Ford notched records in other markets. For example, the company sold 216,997 SUVs in the quarter, an increase of 15% over last year, and an all-time best quarter for the company.
Similarly, Lincoln sales were up 31%, coming in at 24,894. The unit’s SUV sales were up 68% from a year ago and was a new quarterly record.