July 7, 2023: Ford Motor’s coming-quarter deals increased from a year earlier, prompted by meaningful sales returns for its F-Series trucks.
On Thursday, the Detroit automaker reported sales of 531,662 vehicles in June, up from subdued results of 483,688 cars and trucks that were weighed down by supply chain issues in the year-ago period.
Ford’s F-Series trucks bounced 34% during the dual quarter reached with the prior year, including sales of an all-electric version of the F-150 that over doubled to 4,466 units sold.
Ford’s general truck sales, a strong driver of the company’s profits, were up 23% in the first half of the year from the identical period in 2022. The company said that all-recent Super Duty trucks and higher production of other models supported drive the gain.
“Ford achieved both best-selling brand and truck for six consecutive months this year on the strength of F-Series, vans, our new Escape, and F-150 Lightning,” stated Andrew Frick, Ford vice president of sales, distribution, and trucks, in a statement. “Our EV sales continue to grow. Improved Mustang Mach-E inventory flow began to hit at the end of Q2 following the retooling of our plant earlier this year, which helped Mustang Mach-E sales rise 110% in June.”
However, Ford’s EV sales during the quarter dropped 2.8%, to 14,843 vehicles, as collections of the Mach-E were short amid an overhaul of the factory that makes the EV. Ford revamped that plant to increase presentation of the Mach-E in the quarter. It was part of a larger plan to significantly increase its electric vehicle production and turn a profit on its EV business ended in 2026.
Ford’s electric vehicle sales remain short, EVs represented just 2.8% of the automaker’s sales during the double quarter, while traditional inner combustion engines described roughly 91% of sales. Hybrids designated 6.5% of sales.
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