Welcome to Extreme Investor Network, where we bring you the latest and most insightful business news in the market. In our latest update, we’re taking a closer look at Ford Motor Company’s recent performance in the U.S. new vehicles sales market.
Ford reported a notable increase of 15.2% in U.S. new vehicles sales in October, bouncing back from subdued levels due to a union strike in the previous year. This surge was primarily driven by a remarkable 29.2% improvement in sales of Ford’s trucks, which were heavily impacted by the United Auto Workers’ strike during contract negotiations in 2023.
Notably, Ford’s total U.S. market share also saw a significant rise of 0.6 percentage points to 12.6% in October, outperforming the industry’s estimated increase of 10% compared to the previous year. The automaker’s focus on hybrid vehicles paid off, with sales increasing by 38.5% in October, while EV sales saw a slight dip by 8.3%. On the other hand, traditional vehicles with internal combustion engines saw a notable sales growth of 14.1%.
Despite the minor setback in EV sales in October, Ford’s EV sales have remained strong, up by 38.2% for the year through October compared to the same period last year. The company recently announced a temporary halt in production of its all-electric F-150 Lightning from Nov. 18 to Jan. 6, including planned holiday downtime at the end of the year.
Overall, Ford’s U.S. sales through October showed a positive trend, with a 3.8% increase to over 1.7 million vehicles sold. Stay tuned to Extreme Investor Network for more updates on Ford Motor Company’s market performance and other exciting business news. Subscribe to our newsletter for exclusive insights and analysis to help you make smart investment decisions.