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Ford’s hybrid vehicle strategy pays off with new all-time sales record

Ford's hybrid vehicle strategy pays off

By Bruce Brown May 9, 2024 11:03 AM

Ford Hybrid F-150 pulling an Airstream trailer on a two-lane road with trees next to the road. — Ford / Ford

Ford reported good news for hybrid sales in its latest monthly report from the company’s Dearborn, Michigan headquarters. Like other automakers on the path to electrification, Ford is paying close attention to its all-electric, gasoline-only, and hybrid vehicle sales. in April 2024, Ford sold 17,997 hybrid vehicles in the U.S. That’s a new monthly record for Ford, 60% higher than its hybrid sales in April 2023.

Why Ford’s hybrid sales success matters

Ford enjoyed immediate sales success with its original battery-electric vehicles (BEVs), the Mustang Mach-E and the F-150 Lightning. Immediately after their respective launches, the Mach-E in 2021 and the Lightning in 2022, demand far outstripped supply, leading to price increases and plans to add production shifts and facilities.

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When the demand for the Mach-E and Lightning softened, a reaction to price increases and increased post-COVID overall vehicle supply, Ford retrenched on some expansion immediate plans. In a Ford investor call earlier this year, Ford CEO Jim Farley pointed to continued major investments in electrification. He also spoke about hybrids’ position and market share in Ford’s lineup, especially with trucks.

The shift to electrification is costly, and the sales of gas-only and hybrid vehicles will help fund the transition. It’s good to learn that sales of Ford hybrid-powered vehicles are accelerating.

Ford’s April 2024 hybrid vehicle sales

Two Ford trucks, the full-size F-150 PowerBoost Hybrid pickup and the Maverick Hybrid, Ford’s smallest pickup sold in the U.S., were major contributors to Ford’s hybrid sales increases. April 2024 sales of the F-150 PowerBoost, launched in 2021, tallied a 93.6% increase over the April 2023 sales.

Ford reported that the compact Maverick Hybrid truck is the best-selling hybrid pickup overall for 2024, with U.S. sales totaling 26,061 Maverick Hybrids in the first four months. Ford also mentioned that 59% of Maverick Hybrid truck buyers previously owned other vehicle types and brands, often trading in a small SUV to buy a Maverick Hybrid.

Bruce Brown Contributing Editor As a Contributing Editor to the Auto teams at Digital Trends and TheManual.com, Bruce… Read Full Bio

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