Ford announced a modest increase in sales at the beginning of the year despite an 11% decrease in electric vehicle sales. However, this decrease was offset by a significant boost in hybrid sales.
The Detroit automaker stated that sales increased 4.3% in January 2023 compared to the previous month. Sales of internal combustion engine vehicles saw a 2.6% increase, and those of hybrids saw a 43% increase. Last month, Ford sold 152,617 vehicles.
Ford’s decision to focus more on hybrid technology seems to have paid off, as the sales of these vehicles have seen a rise. Despite the slow adoption of EVs like the F-150 Lightning pickup and the Mustang Mach-E crossover among buyers, the demand for hybrids has increased.
The automaker highlighted that it sold 4,674 EVs, which is a 10.9% decrease from the previous month. Meanwhile, hybrid sales reached a record high, with 11,157 units sold, indicating a 42.7% increase. Sales of vehicles with internal combustion engines also increased by 2.6%, with 136,786 units sold. Additionally, the automaker’s truck sales and SUV sales increased by 1.5% and 8.5%, respectively. However, overall vehicle sales fell by 6%.
The company reported how last month’s sales shed light on the current trends in the automotive industry and the shifting preferences of buyers toward hybrid technology.
Despite emphasizing hybrid vehicles, Ford sold 90% of its traditional vehicles last month. Hybrids comprised only 7.3% of total sales, with the Ford Maverick truck being the top-selling hybrid. EVs accounted for less than 3% of the total sales, with sales of Ford’s highly profitable F-Series pickups decreasing by nearly 12% to 48,700 units last month.
