Ford Rides High: US Sales Soar 7.1% In 2023, Says Poised For Growth In 2024

Ford Motor Company F reported a 7.1% Y/Y increase in 2023 U.S. sales to 1.995 million vehicles, its best since 2020.

Ford sold 25,937 EVs in Q4 (up 24% over Q3 sales) and 72,608 vehicles for the year (up 18%). 

"In a year of challenges, from a labor strike to supply issues, our amazing lineup of gas, electric and hybrid vehicles and our fantastic dealers delivered solid growth and momentum," said Jim Farley, Ford president and CEO.

Read Next: Tesla Vs. BYD: Musk Labels American EV Giant An 'AI/Robotics Company' After Chinese Rival Steals Global Sales Crown

Total Ford hybrid sales for Q4 totaled 37,229 vehicles, up 55% Y/Y. For the year, Ford hybrid vehicle sales were up 25%.

Ford F-Series expanded its lead in 2023, on sales of 750,789, up 15% over the previous year and outselling second place Silverado by about 200,000 trucks.

Ford said the all-new 2024 Mustang, which initiated sales in August, had strong momentum that continued into Q4 with total sales of 13,290, up 21%. 

Ford said it is poised for growth in 2024 with New F-150, Ranger, Explorer, Expedition and Lincoln Aviator, Navigator, Nautilus.

Also Read: Ford Recalls Over 112K F-150s After NHTSA Highlights Roll-Away Risk

Price Action: F shares are trading lower by 0.09% at $11.72 on the last check Thursday.

Photo via Company