Welcome to Extreme Investor Network, your source for the latest and most insightful business news. Today, we’re diving into the recent sales update from Ford, highlighting their performance in the second quarter of the year.
Ford reported a 1% increase in overall sales during the second quarter, with truck sales leading the way with a 5% gain. This marks their best second-quarter performance for trucks since 2019, with the F-Series totaling 199,463 vehicles sold.
Notably, sales of Ford electric vehicles saw a significant increase of 61%, totaling 23,957 units. The Mustang Mach-E and F-150 Lightning have been key drivers in attracting new customers to the brand. In addition, hybrid vehicle sales also saw a boost, reaching a new quarterly record of 53,822 units, up 56% from the previous year.
This update comes on the heels of Ford’s crosstown rival, General Motors, reporting a 0.6% increase in second-quarter sales. Both automakers have outperformed market expectations, with industry forecasters predicting flat year-over-year sales for the quarter.
As the automotive industry continues to evolve towards electric vehicles, Ford’s success with their EV and hybrid offerings demonstrates their commitment to meeting changing consumer demands. Stay tuned for more updates on the latest trends and developments in the business world, only on Extreme Investor Network.