Ford Motor Company’s Q2 sales rose 1% during over the year-earlier period, led by a 5% gain in truck sales, the automaker said on Wednesday. Ford truck sales, which include pickups and vans, totaled 308,920 vehicles during the period. This is Ford’s best Q2 performance for the category since 2019.
Sales of Ford F-Series reached 199,463 vehicles, increasing 30% from the previous quarter.
Ford’s Q2 report
Sales performance of Ford EV totaled 23,957 during the Q2, up 61%. Ford’s Mustang Mach-E and F-150 Lightning are particularly attracting new customers. Especially, F-150 Lightning’s sales surging 77% year over year to 7,902 units.
Sales of hybrid vehicles totaled 53,822, an increase of 56% and a new quarterly sales record for Ford since it began offering hybrid models more than 20 years ago, it said.
The surge in sales was significantly boosted by Maverick sales, totaling 40,420 units through the first half of the year.
Automakers leaning on hybrids
Automakers including Ford have been leaning on hybrids to ease the EV transition and help achieve tightening federal fuel efficiency standards.
Ford Q2 sales update comes a day after Ford’s crosstown rival General Motors Q2 sales rose 0.6% from a year earlier. GM said total sales of 696,086 made for its highest quarterly sales mark since the fourth quarter of 2020.
Ford sales growth
Even modest sales increases for both Ford and GM outpace expectations for the overall market. Auto industry forecasters including Cox Automotive and Edmunds expect second-quarter sales industrywide to be roughly flat year over year.
Overall sales growth at Ford
Ford SUVs achieved record first-half sales of 406,467 units, up 3% year over year, driven by the Explorer, the best-selling three-row SUV in the U.S., with 104,803 units sold. Sales of the Escape and Expedition also rose 10% and 15%, respectively, in the first half.
The Lincoln brand saw a sales increase of 18.9% to 23,923 units, driven by the new Lincoln Nautilus. In the second quarter of 2024, Nautilus hybrid sales accounted for 44% of Nautilus total sales, while Corsair and Aviator sales rose 17% and 90%, respectively.
