Ford Motors Sees Significant Sales Boost in October
Truck Sales Lead the Charge
Ford Motor has reported a remarkable 15.2% increase in U.S. new vehicle sales for October, compared to the same period last year. This surge in sales can be attributed to a significant 29.2% improvement in truck sales, which were among the first to be impacted by the United Auto Workers’ strike during contentious contract negotiations in 2023.
Market Share on the Rise
Ford’s total U.S. market share has increased by 0.6 percentage points, reaching 12.6%. This growth outpaces the industry’s estimated 10% increase for the same period. The automaker’s focus on hybrid vehicles has paid off, with sales up 38.5% last month compared to October 2023.
Electric Vehicle Sales Take a Hit
While Ford’s EV sales remain up 38.2% for the year through October compared to 2023, the company saw an 8.3% decline in EV sales last month. This decline comes on the heels of the company’s announcement to idle production of its all-electric F-150 Lightning from November 18 until January 6.
Traditional Vehicles See a Boost
Sales of traditional vehicles with internal combustion engines saw a 14.1% increase, contributing to Ford’s overall sales growth. The company’s U.S. sales through October have reached over 1.7 million vehicles, a 3.8% increase from last year.
A Promising Outlook
Ford’s strong sales performance in October is a promising sign for the company’s future growth. As the automaker continues to focus on hybrid and electric vehicles, it will be interesting to see how its sales figures evolve in the coming months.
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