Ford Had A Good Month

Unlike its Detroit peers, General Motors GM and Stellantis N.V. STLA, Ford Motor F reported its monthly sales figures for February. But GM and Stellantis also delivered their own news today.

Ford Had A Good Month

Ford reported its February U.S. sales rose 10.5% YoY to174,192 cars and trucks, fueled by increases in its hybrid and all-electric vehicles sales.  The EV front picked up momentum with Mustang Mach E experiencing a 64.3% uptick in sales with the all-electric F-150 Lightning pickup nearly doubling in sales EV sales rose 81%, followed by a 32% rise in hybrid models and a 7.5% rise in traditional internal-combustion engines.

In February, Ford sold 12,045 hybrids, including 6,463 Maverick Hybrid pickups. But despite this increase, traditional cars and pickups still made 89.5% of sales in February.

However, Ford also revealed its highly profitable F-Series pickups experienced a 5.8% drop to 51,829 units. 

General Motors To Produce Hydrogen Fuel Trucks For Worksites

On Wednesday, General Motors announced a pilot program that will be supported by government funding. As part of the pilot project, General Motors will be developing hydrogen truck prototypes. More specifically, General Motors will be developing medium-duty fuel-cell electric trucks as well as an H2 “microgrid” using a Nel electrolyzer with one of the largest utilities in the US. Back in 2022, GM announced the expansion of its Hydrotec fuel cell offering beyond transport to include stationary and mobile power generators.

Stellantis Announced The Largest Investment In South America’s Automotive Industry

Also on Wednesday, Stellantis revealed its record investment plan for South America. It holds a 23.5% market share in the region. Moreover, it is the sales leader in three main markets of the region. Besides Brazil where it holds a market share of 31.4%, it is also a sales leader in Argentina and Chile. By committing to invest €5.6 billion, Stellantis will be supporting the development of 40 new products by the end of the decade, along with new Bio-Hybrid and decarbonization technologies. Supporting new strategic business opportunities and regional growth is part of Stellantis achieving its Dare Forward 2030 carbon net zero objectives. Its strategy also includes an investment that exceeds €50 billion in electrification over the following decade. Stellantis is going for the carbon net zero corporation title and it  plans to get its carbon net zero ID by 2038. With this historic pledge, it will undoubtedly solidify its market dominance in South America as its rivals, namely, General Motors, as well as Volkswagen VWAGY and Hyundai Motor Company HYMTF also recently announced significant investments in the region.

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