Ford’s EV sales grow 61% in Q2 2024

Ford reported significant growth in its electric vehicle (EV) sales in the second quarter of the year, as the Detroit-based automaker saw a strong 61% increase in EV sales, putting them second only to Tesla.

Ford’s oldest EV, the Mustang Mach-E, saw its sales surge by 46.5% in the second quarter, reaching a total of 12,645 units. Not to be outdone, Ford’s next EV, the F-150 Lightning, saw its sales soar by 76.9%, totaling 7,902 units in the second quarter.

Add in Ford’s E-Transit commercial van, and the automaker’s overall EV sales reached 23,957 units in the second quarter, a 61.4% increase from the same period last year. This brought their year-to-date EV sales to 44,180 units, marking a 71.8% increase year-over-year.

Despite the rapid growth, Ford’s total EV sales still represent a small fraction of its overall vehicle sales, indicating potential for future expansion as the market for EVs continues to grow.

Ford’s hybrid vehicle segment also saw substantial growth, with sales increasing by 55.6% to a record 53,822 units in the second quarter. The popularity of these hybrid models highlights the transitional role they play for consumers not yet ready to go fully electric but seeking improved fuel efficiency and lower emissions.

Despite the positive trends in EV and hybrid sales, Ford’s internal combustion engine (ICE) vehicle lineup faced some challenges. Ford’s overall sales increased only 0.8% to 536,050 units in the second quarter, a figure that could have been worse were it not for the strong showing by EVs and hybrids.

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