Ford July Sales , the iconic Detroit-based automaker, has reason to celebrate as it reported a 5.9% increase in July sales in the U.S., signaling excellent business performance. This boost in sales can be attributed to the robust demand for their highly popular Bronco SUVs and pickup trucks, effectively compensating for a decline in sales of electric vehicles (EVs).
Comparing this July’s sales of 173,639 vehicles to last year’s 163,942, it becomes evident that Ford has managed to overcome the challenges posed by the pandemic-induced supply chain disruptions and now stands well-stocked with materials to meet consumer demands.
While the overall sales figures are impressive, it’s noteworthy that Ford sold more conventional automobiles than electric ones during this period. The F-Series trucks, Ford’s highly successful and lucrative lineup, witnessed an impressive surge of 8.2%, with 68,536 units sold.
However, the electric F-150 Lightning sales experienced a setback, plunging by nearly 28% from the previous year, with only 1,552 trucks sold. This dip was attributed to the temporary shutdown of Lightning’s production facility for six weeks to enhance production capabilities.
Fortunately, the factory’s reopening coincided with strategic price cuts, leading to an impressive sixfold increase in Lightning orders. Ford is aware that Lightning sales may face challenges until dealers can replenish their inventories, a situation they expect to normalize by mid-September.
The company has set ambitious targets to produce over 70,000 Lightning vehicles by 2023. The factory upgrades are designed to empower Ford to manufacture 150,000 flashes of Lightning annually, with operations set to begin in the autumn, overcoming potential issues.
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Another of Ford’s electric models, the Mustang Mach-E, experienced a sales decline of 21% in July due to a temporary facility closure for updates earlier in the year. However, there was a silver lining as sales of the Ford E-Transit electric work vans soared by an impressive 50%, reaching 791 units sold in July.
Ford is fully committed to expanding its electric vehicle business, the Ford Model E.
However, this endeavor comes with considerable investments, and the company expects to incur a loss of $4.5 billion in 2023. The grand vision behind these initiatives is to produce an astonishing 600,000 electrified automobiles annually by 2024 eventually.
Despite the challenges faced by their electric vehicle lineup, Ford’s hybrid and conventional automobiles continue to enjoy robust sales figures and healthy profits. In July, the Bronco SUVs registered a remarkable growth of 20% compared to June, with 12,755 units sold. Furthermore, sales of the Ranger and Maverick pickups experienced substantial increases, rising by 8.6% and 13.5%, respectively.
Ford’s July sales exemplify its resilience and capacity to perform well in the market, particularly regarding its traditional automobile offerings. Simultaneously, the company remains committed to expanding its presence in the electric vehicle domain. Ford remains optimistic about the future with the Lightning factory in full swing and positive customer reception. The company sold 1,181,207 vehicles in the U.S. in July, marking an impressive 9.4% growth compared to the same period in 2022.
Our Reader’s Queries
Are Ford sales declining?
Ford announced on Monday that it sold 145,559 vehicles in December, slightly lower than November’s 146,364. However, the company saw a 43% increase in electric vehicle sales, selling almost 9,000 units and ranking second only to Tesla. Additionally, hybrid vehicle sales rose by an impressive 75%.
What is the prediction for Ford sales?
Ford’s passenger car unit sales are projected to hit 5 million vehicles globally by 2028, with an average price of $31k in 2024. The United States is expected to generate the highest revenue, with an estimated $61,120m in 2024.
What is Ford’s annual sales?
Ford Motor Company’s revenue for the twelve months ending September 30, 2023 was $174.23B, showing a year-over-year growth of 14.82%. The revenue for the quarter ending September 30, 2023 was $43.80B, with a growth of 11.19% year-over-year. In 2022, the company’s annual revenue was $158.06B, with a growth rate of 15.93%.
What is the sales trend for Ford?
Ford Motor’s U.S. sales saw a 7% increase in 2023, reaching almost 2 million vehicles sold. While this marks the automaker’s best sales since 2020, it falls short of the overall industry’s growth. Nonetheless, Ford’s performance is commendable, and the company can take pride in its achievement.