LANSING, Mich. (Michigan News Source) – Ford Motor Company found itself pushing ahead in Electric Vehicle sales in the first quarter of 2024 as other car manufacturers struggled to keep up.
What’s in the earnings report?
The Dearborn based car manufacturer shared that its EV sales were up 86% in the first three months of the new year, selling 20,223 EVs in its deliveries in January through March.
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Hybrid vehicles sales also were up 42% for the best quarter ever according to the company.
“With the new F-150 and all-new Ranger sales beginning in March along with the strong performance of our all-new Lincoln Nautilus and Nautilus Hybrid, we’re in a strong position to capitalize and grow as we move through 2024,” said Andrew Frick, president, Ford Blue. “And that’s before customers experience services like Pickup & Delivery and Mobile Service – now totaling 250,000 U.S. experiences a month – and technologies like BlueCruise.”
Ford ranked second overall behind Tesla in terms of the best selling EV brand according to the company.
Other automakers struggle to keep pace with Ford.
General Motors Company recorded a 1.5% decline in overall sales year over year in Q1, selling short of 595,000 new vehicles in the first three months of 2024, whereas the company sold roughly 603,000 last year.
GM did have some successes including #1 total full-size pickup sales, the best first quarter since 2020 and the #1 rank for total full-size SUV sales.
“Our brands are all performing well,” said Marissa West, GM senior vice president and president, North America. “GM gained retail market share year-over-year with strong mix and pricing, our inventories are in good shape heading into the spring, and production and deliveries of Ultium Platform EVs are rising, led by the Cadillac LYRIQ. We’re on plan.”
What About Stellantis?
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Stellantis recorded a steeper decline as sales dropped 10% in the first several months of 2024 compared to the previous year.
The largest sales decline came from the Ram brand with a 26% sales drop, followed by a 16% decline in Dodge sales. Fiat sales were up 12% and Chrysler vehicles were up 9% according to the company.
Stellantis’ Head of U.S. Sales, Jason Stoicevich, expressed his optimism for the remainder of the year and highlighted that plug-in hybrid EV sales were up 82% year-over-year.
“2024 will be a transformative year for the company and our consumers, and our focus and commitment remain on delivering best-in-class products across Stellantis’ diverse portfolio,” he said in a statement.
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