After failing to impress in the previous quarter, Ford has posted stronger Q1 sales numbers, driven in part by its flagship pickups.
According to the company’s quarterly results, it sold 475,906 units in total, an increase of 10.1% from the previous year. At 170,377 units, F-series trucks represented roughly 36% of this amount, a growth of 21%. The Bronco and Explorer SUVs saw sales rise 38% and 36% respectively. The automaker’s electric vehicle sales ballooned 41% to 10,900. Despite this growth, EVs only comprised 2.3% of its sales total.
In the final months of 2022, Ford struggled with supply chain issues and failed to capitalize on its lineup of best-selling vehicles, causing both a quarterly and full-year net loss. CEO Jim Farley has since said the company left billions on the table last year, and promised to restructure the company to avoid repeating its mistakes. Recently, the automaker altered its operations to combine divisions by product, rather than geographic market.
The company’s EV segment suffered an early-year blow when a fire-causing battery issue was discovered at its Lightning pickup factory. While Ford has since explained that the issue originated from its supplier and resumed operations, it was forced to halt production at the facility for more than a month.
Nevertheless, Ford’s first quarter report suggests that the automaker is making some headway in addressing the difficulties which held it back in 2022. Inventory has dramatically improved since last year, a shift which the company has used to its advantage. Whether the growth will continue into the coming quarters remains to be seen.
