Although internal combustion vehicles remain Ford’s bread and butter, sales of its electrified vehicles are growing fast
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- Driven by the Mustang Mach-E and F-150 Lightning, Ford’s EV sales nearly doubled in Q1.
- Sales of the Maverick hybrid are up 77 percent, which helped lift sales of the automaker’s electrified vehicles.
- Although internal combustion vehicles still dominate Ford’s sales sheet, F-150 deliveries shrank by 10 percent last quarter.
Ford’s electrified lineup of vehicles really connected with customers in the first three months of 2024, as sales of its hybrid vehicles grew by 42 percent, and its electric vehicle sales grew by 86.1 percent, helping it hang onto its position as America’s second best-selling EV brand, behind Tesla.
In all, the automaker sold 20,223 electric vehicles in Q1 2024, as compared to 10,866 in the same period in 2023. Of those, the E-Transit accounted for 2,891 deliveries (+148 percent as compared to 2023), 7,743 were F-150 Lightnings (+80 percent), and 9,589 were Mustang Mach-Es (+77 percent).
Read: Ford Slashes Mustang Mach-E Prices, Sales Soar, Proving People Crave Cheaper EVs
Although sales of the electric crossover were impressive, they were helped by heavy discounts that were introduced in February to get rid of leftover model year 2023 vehicles. While the discounts were effective, it’s not clear how sustainable they will be.
For hybrids, sales were driven by the Maverick, America’s best-selling electrified pickup truck in the first quarter of 2024. Sales of the truck grew 77 percent to 19,660 early this year. As a result, they accounted for more than half of Ford’s 38,421 hybrid deliveries.
Ford Sales By Vehicle Type, Q1 2024
Although the segment grew by less, internal combustion vehicles accounted for the vast majority of Ford sales last quarter. In all, it sold 508,083 vehicles last quarter, 449,439 of which were powered by internal combustion engines.
As ever, the F-150 was a major driver of sales, with 152,943 selling in Q1 2024. However, that was down from 170,377 (or about 10 percent) from a year ago, which led overall truck sales to fall by 0.6 percent, to 252,485. Fortunately, its SUVs came on strong to take up some of the slack, growing by 15.3 percent to 216,997 total sales. That led Ford’s overall sales to grow by 6.8 percent.
The premium Lincoln brand also celebrated a strong quarter, moving a total of 24,894 vehicles, or 31.5 percent more than it did a year earlier. Sales were up for the Corsair, Nautilus, and Aviator, but they fell by a quarter for the Navigator.
Lincoln Sales Q1 2024
