Ford's U.S Vehicle Sales Topped 500,000 in Q3, Driven by Strong Ev and Truck Sales

On Wednesday, Ford Motor Co. announced that it achieved robust sales in the United States during the third quarter, surpassing half a million vehicle sales. This performance was driven by strong sales in hybrid and electric vehicles as well as trucks.

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In total, Ford reported a 7.7% increase in sales compared to the previous year, reaching 500,504 vehicles sold for the quarter. This brings the year-to-date total to 1.51 million vehicles.

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Andrew Frick, vice president of sales, distribution, and trucks, commented on the balanced sales growth across gas engine, electric, hybrid, and commercial van offerings. Ford's truck lineup, in particular, maintained its position as the industry's leading seller.

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However, Ford's stock experienced a 0.3% decline in morning trading, reaching a one-month low. Over a four-day period, the stock has dropped by 4.2%. This sales data release coincided with Ford's announcement of its "strongest" proposal to the United Auto Workers in an attempt to end a nearly three-week strike. While the proposal is described as "costly," it aims to facilitate continued investment in growth.

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Hybrid vehicle sales surged by 41.4% compared to the previous year, reaching 34,861 vehicles. Sales of electric vehicles also rose by 14.8% to 20,962 electric vehicles, with the Mustang Mach-E contributing significantly with a 42.5% growth, totaling 5,872 units. Hybrid and EV sales combined represented 11.2% of the total vehicle sales.

Truck sales increased by 15.3% to 275,554 units, while sales of sport-utility vehicles (SUVs) experienced a marginal 0.1% dip, totaling 215,106 units.

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Among trucks, F-Series sales saw a notable 13.4% increase, reaching 190,477 units, while sales of the electric F-150 Lightning decreased by 45.8% to 3,503 units. Year-to-date, Ford has sold 573,370 F-Series trucks, including 12,260 F-150 Lightning trucks.

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Sales of the Transit van surged by 28.3% to 34,006 units, including an impressive 89.8% increase in E-Transit sales, totaling 2,617 vans.

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In terms of stock performance, Ford's stock has gained 3.4% year-to-date, while its competitor General Motors Co. has experienced a 6.8% decline, and the S&P 500 index has advanced by 10.4%.

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