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

Zinger Key Points
  • Ford’s 2023 electric vehicles sales increased 18% Y/Y.
  • Ford’s 2023 Hybrid vehicle sales jumped 25% Y/Y.

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.

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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 ReadFord 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

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