Ford Motor Company’s electric F-150 Lightning on the production line at their Rouge Electric Vehicle Center in Dearborn, Michigan on September 8, 2022.
Jeff Kowalsky | AFP | Getty Images
DETROIT – Ford Motor‘s second-quarter sales increased 9.9% from a year earlier, spurred by significant sales gains of its F-Series trucks.
The Detroit automaker Thursday reported sales of 531,662 vehicles from April through June, up from subdued results of 483,688 cars and trucks that were weighed down by supply chain problems in the year-ago period.
Sales of Ford’s F-Series trucks jumped 34% during the second quarter compared with the prior year, including sales of an all-electric version of the F-150 that more than doubled to 4,466 units sold.
Ford’s overall truck sales, a key driver of the company’s profits, were up 23% in the first half of the year from the same period in 2022. All-new Super Duty trucks and higher production of other models helped drive the gain, the company said.
“Ford achieved both best-selling brand and truck for six consecutive months this year on the strength of F-Series, vans, our new Escape, and F-150 Lightning,” said Andrew Frick, Ford vice president of sales, distribution and trucks, in a statement. “Our EV sales continue to grow. Improved Mustang Mach-E inventory flow began to hit at the end of Q2 following the retooling of our plant earlier this year, which helped Mustang Mach-E sales climb 110% in June.”
However, Ford’s EV sales during the quarter declined 2.8%, to 14,843 vehicles, as supplies of the Mach-E were short amid an overhaul of the factory that makes the EV. Ford revamped that plant to increase production of the Mach-E during the quarter, part of a larger plan to significantly boost its electric vehicle production and turn a profit on its EV business by the end of 2026.
Ford’s electric vehicle sales remain small for now: EVs represented just 2.8% of the automaker’s total sales during the second quarter, while traditional internal combustion engines represented roughly 91% of sales. Hybrids represented 6.5% of sales.