Ford Motor Co.’s U.S. sales rose more than 15% in October from a year earlier as sales of trucks and hybrids boosted results even as sales of electric vehicles declined.
According to the company, Ford sold 172,756 vehicles last month, increasing its market share. The United Auto Workers union has been on strike targeting multiple plants of the Dearborn automaker for the better part of a month a year ago, and on Oct. 25, both parties announced record wage increases and other It lasted 41 days before a tentative agreement was reached promising benefits.
However, electric vehicle sales fell 8.3% year-over-year, as sales of the F-150 Lightning fell by nearly 50% in the same month. Due to losses on the Lightning, Ford announced that its Rouge Electric Vehicle Center, which manufactures trucks, will be idled starting later this month until 2025 in an effort to maintain sales growth and profitability. The company predicts its Model E EV division will lose $5 billion this year.
To boost EV sales, Ford last month launched its “Power Promise” campaign, which includes paying EV buyers for a Level 2 home charger and its standard installation through the end of the year. Additional incentives will also be offered to customers who already own a charger and commercial buyers.
Sales of the all-electric Mustang Mach-E were up 21%, and sales of the E-Transit commercial van were up 181%.
Internal combustion engine vehicles account for 86% of Ford’s sales. It rose by 14%. Hybrids increased by 39%. Sales of luxury brand Lincoln increased by 36%.
Overall Ford truck sales increased 29% in the quarter. The automaker said F-Series sales increased 26%, including F-150 sales up 23% and Super Duty sales up 31%, although it typically doesn’t provide details on those models. Not yet. F-150 Hybrid deliveries increased by 51%.
The mid-size Ranger sold more than 10 times as many trucks as it did a year ago. The Michigan assembly plant where the Ranger is manufactured was the first plant affected by the September 2023 UAW strike. I also make broncos. The smaller Maverick saw a 14% increase in sales, including a 47% increase in the hybrid version. Transit commercial vans rose 53%.
SUV sales increased by 2.3%. Sales rose 3.1% in October following the launch of the redesigned Explorer. Bronco sales were up 105% and its Sport sibling was up 13%. Escape sales increased 1.7% and Expedition deliveries increased 12%.
In Lincoln, Nautilus sales increased 116%. Aviators increased by 38% and Corsairs by 14%. Navigator sales decreased 8.7%. Lincoln’s largest SUV will be redesigned in 2025.
bnoble@detroitnews.com
@BreanaCnoble
