Ford Sales Surge 4.2% in 2024, Led by F-Series Trucks and Electrified Models
Ford Motor Company (NYSE: F) delivered an impressive performance in 2024, reporting a 4.2% increase in U.S. sales, totaling approximately 2.079 million vehicles. The surge was primarily driven by the continued dominance of its F-Series trucks and robust growth in its electrified vehicle lineup.
Q4 Momentum Boosts Annual Results
In the fourth quarter, Ford recorded an 8.8% year-over-year increase in U.S. sales, with F-Series trucks leading the charge. F-Series sales surged by 21.1% during the quarter, securing their position as America’s best-selling truck for the 48th consecutive year. This milestone underscores the enduring popularity of Ford’s flagship lineup, which includes gas, diesel, hybrid, and electric models.
“The Ford F-Series exemplifies our Freedom of Choice strategy, offering powertrain options that meet diverse customer needs,” the company stated. All F-Series variants reported year-over-year growth in December 2024.
Electrified Vehicles Shine Bright
Ford’s electrified vehicle sales grew by a staggering 38% in 2024, reaching 285,291 units. Hybrid models dominated this segment, achieving a record 187,426 units sold, a 40% increase from the previous year. Notably, the Maverick hybrid pickup accounted for nearly one-third of Ford’s hybrid sales.
Electric vehicle (EV) sales also set new records, with standout performances from:
Mustang Mach-E: 51,745 units sold (+27%)
F-150 Lightning: 33,510 units sold (+39%)
E-Transit: 12,610 units sold (+64%)
In Q4 alone, Mustang Mach-E achieved its best-ever quarterly sales with 16,119 units, solidifying its position as the second-best-selling electric SUV in the U.S., trailing only Tesla’s Model Y.
Challenges Amid EV Growth
Despite strong sales figures, Ford’s EV division continues to face financial headwinds. The company recently delayed the opening of new EV manufacturing facilities and canceled plans for a full-size three-row electric SUV.
Lincoln Brand Gains Traction
Ford’s luxury division, Lincoln, also had a stellar year. Q4 sales surged 35.4%, contributing to a 28.1% increase for 2024. Models like the Aviator (+62.3%) and Nautilus (+50.2%) played key roles in Lincoln’s resurgence.
Market Reaction and Competitive Landscape
Ford’s strong performance contrasted with rival General Motors (GM), which reported a 4% sales increase in 2024, totaling 2.7 million vehicles sold. Ford shares rose approximately 1% in midday trading following the announcement.
As Ford continues to navigate challenges in the EV sector, its diverse lineup and consistent performance in traditional and electrified vehicles position it for sustained growth in 2025 and beyond.
Source : Swifteradaio.com
