From CNBC:

In January 2024, Ford Motor reported a 4.3% increase in sales, with hybrid vehicles driving the growth. Hybrid sales surged 43% while traditional vehicles with internal combustion engines increased 2.6%. However, sales of all-electric vehicles like the Mustang Mach-E dropped 51%.

The Ford Maverick pickup, a hybrid vehicle, is part of Ford’s push to double down on hybrid technology. Despite this focus, 90% of Ford’s sales last month were traditional cars and trucks. The highly profitable F-Series pickups saw a 12% drop in sales last month.

Ford’s stock has fallen about 1% in 2024, while its crosstown rival General Motors released results and 2024 guidance that topped Wall Street’s expectations. GM’s stock has risen over 7% this year.

As electric vehicles and hybrids continue to be a major focus for Ford and other auto manufacturers, Ford is expected to report its fourth-quarter and year-end earnings soon. This comes as Ford looks to continue increasing production and sales of its hybrid vehicles, including the Maverick pickup.



Read more: Ford hybrid vehicle sales surge to offset EV decline in January