2024-01-04 21:22:00
Ford Motor Company Achieves Strong Sales Growth in December and 2023
Ford Motor Company has reported strong sales growth in December and for the full year of 2023. In December, the company delivered 192,000 vehicles, marking a 7% increase compared to the previous year. Sales of fully electric vehicles totaled 10,000 units, representing a 30% increase, while hybrid vehicle sales reached nearly 12,000 units, marking a 60% jump from the previous month.
For the full year, Ford delivered almost 2 million vehicles in the US, a 7% increase compared to 2022. BEV sales reached about 73,000 units, a 17% increase, while sales of hybrid vehicles amounted to almost 134,000 units in 2023, representing a 25% increase from the previous year.
Despite the growth in Ford’s sales, General Motors still leads as the second-largest EV maker in the US, behind Tesla. General Motors delivered 75,585 electric vehicles in 2023, while Tesla’s delivery figures are estimated to be around 600,000 vehicles in the US in 2023.
Ford’s hybrid vehicles had a successful year, with the F-150 Lightning sales growing by about 50% to more than 24,000 units and all-electric pickup trucks accounting for about 3.2% of F-Series sales. Sales of the Mustang Mach E grew more slowly, reaching about 41,000 units, up 3% year-over-year.
Overall, BEV sales in the US grew by about 45% in 2023, reaching 1.1 million units. However, the slowdown in growth has led Ford to pause spending related to electric vehicles and absorb production downtime. In its reports for the third quarter, Ford missed expectations, with earnings per share lower than analysts’ expectations.
The company’s Ford Pro unit was the standout in the quarter, earning an operating profit of just under $1.6 billion. However, Ford’s electric vehicle business reported a loss of $1.3 billion on sales of 36,000 vehicles, a loss of $36,000 per car.
These results show both the strengths and challenges faced by Ford as it navigates the growing electric vehicle market. As the company continues to invest in electric vehicle technology, it will be interesting to see how it adapts to the changing landscape of the automotive industry.
#Ford #ends #good #delivery #figures