In the third quarter, Ford Motor reported a 7.7% increase in new vehicle sales in the United States compared to the same period last year. This growth was primarily driven by higher sales of traditional pickup trucks across Ford’s product lineup.
Truck sales saw a significant boost, with a 15.3% increase, while car sales experienced a 5.1% decline, and SUV sales remained relatively flat.
Although Ford’s sales increase met expectations set by Edmunds, it fell short of industry-wide forecasts, which anticipated a 15% to 16% growth in the third quarter.
Ford’s sales of electric vehicles (EVs) did show promise, rising by 14.8% during the quarter, reaching nearly 21,000 units. The majority of these EV sales were attributed to the Mustang Mach-E crossover. However, sales of the F-150 Lightning electric pickup declined by approximately 46% during the quarter due to slower-than-expected demand and production downtime.
Ford’s EV sales accounted for around 3% of the total vehicles sold by the automaker in the first nine months of the year, with EVs representing 4.2% of third-quarter sales.
On the hybrid front, Ford reported strong performance, with third-quarter sales of 34,861 vehicles, marking a 41.4% increase compared to the previous year. The success was largely driven by the F-150 and Maverick hybrid trucks.
The ongoing strike by the United Auto Workers (UAW) union against Detroit automakers, including Ford, did not have a significant direct impact on sales during the quarter. However, the situation could become more challenging in the coming month, particularly for vehicles like the Ford Bronco SUV and Ranger midsize pickup, which were the first models to halt production due to the strike that began on September 15.
While the UAW strike has gradually escalated, it aims to preserve union funds and extend work stoppages to keep the automakers off balance. Approximately 17% of UAW members covered by the expired contracts with GM, Ford Motor, and Stellantis are involved in the targeted strikes, as opposed to national walkouts affecting all plants simultaneously.
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