Ford Announces Robust Q2 Sales Figures, Highlighting Trucks, Vans, and Growing EV and Hybrid Demand
DEARBORN, Mich., July 3, 2024 – Ford Motor Company is experiencing positive momentum with its U.S. product lineup, according to the company’s second-quarter sales results. The report shows solid gains across various segments, including trucks, vans, hybrid, and electric vehicles, in addition to strong performance from the Lincoln brand.
Ford continues to lead the truck market, with the F-Series truck lineup maintaining its position as America’s best-selling. Through June 2024, the F-Series outsold the second-place Silverado by 71,000 trucks and the Ram by 173,000. Both the Maverick and Maverick Hybrid – the top-selling hybrid truck in the U.S. – also set new first-half records.
The F-Series saw Q2 sales of 199,463, a 30 percent increase compared to the first quarter. Concurrently, the Ford Transit, which is America’s best-selling van, posted a new first-half record. Ford also achieved an all-time record for SUV sales during the first half of 2024, surpassing the previous record from 2017.
Andrew Frick, president of Ford Blue, highlighted the strong consumer response: “From the urban customer who wants the capability of a small pickup like Maverick to the businesses that rely on Transit vans to help drive the American economy, the distinctive Ford lineup is resonating with customers.” He further noted the impact of hybrid and electric vehicles, as well as services like BlueCruise hands-free highway driving, the Ford Pro Intelligence software platform, and remote vehicle servicing options.
Ford’s overall vehicle sales for Q2 were up 1 percent year-over-year. Total truck sales, including pickups and vans, reached 308,920, a 5 percent improvement compared to 2023, representing Ford’s strongest Q2 truck sales figures since 2019. The manufacturer is also preparing for the release of new vehicles, including the Ford Explorer, Lincoln Aviator, Mustang Mach-E Rally, and extended-range E-Transit, which will soon begin shipping to dealers.
Hybrid Sales Soar, Driven by Maverick and F-150 Hybrid
Hybrid sales for Ford experienced a significant surge, increasing by 56 percent to reach 53,822 units – a new quarterly sales record. The Maverick, leading the hybrid pickup segment, recorded sales of 40,420 during the first half of the year.
The Maverick continues to attract customers seeking capability, space, versatility, and fuel efficiency, even those new to truck ownership. Approximately 60 percent of Maverick Hybrid customers come from other brands. In California, Maverick is the top choice among female consumers within the midsize pickup segment. The F-150 Hybrid, the second best-selling hybrid pickup, saw a sales increase of 38 percent, with 33,674 units sold in the first half of the year. The F-150 Hybrid constituted 20 percent of non-EV F-150 sales.
Ford is the only manufacturer with a diverse truck powertrain lineup, offering gasoline, hybrid, and electric options.
Electric Vehicle Sales Climb, Ford Maintains Strong EV Market Position
Electric vehicle sales increased by 61 percent in Q2, with 23,957 vehicles sold. For the year, EV sales are up 72 percent. Ford’s total EV sales for the first half of the year reached 44,180, putting the brand in second place, just behind Tesla.
Both the Mustang Mach-E and the F-150 Lightning are drawing customers from other brands, with 62 percent of F-150 Lightning and 54 percent of Mustang Mach-E sales representing new customers to Ford. Mustang Mach-E sales rose 46 percent year-over-year, up 58 percent through the first half of the year, which is the model’s best performance since launch. Sales of the F-150 Lightning, America’s top-selling electric truck, totaled 15,645 through June 2024, with Q2 sales up 77 percent from the previous year, totaling 7,902.
E-Transit, America’s best-selling electric van, saw its best quarterly sales since debuting in 2022, with an increase of 96 percent in Q2. The E-Transit’s total first-half sales reached 6,301 units, which is more than double the amount sold during the first half of 2023. Repeat customers make up about 75 percent of the E-Transit sales this year.
Ford Pro Sees Continued Growth and Transit Maintains Commercial Van Leadership
Ford leads the commercial van segment for 45 consecutive years, and the Transit had a record start this year. During Q2, Ford Transit and E-Series combined accounted for half of the full-size commercial van segment. The Transit, America’s best-selling van, sold 82,164 vans in the first half of the year, marking a 28 percent increase. The F-Series Super Duty sales continue to rise, with first-half sales up 8 percent. Approximately 600,000 subscribers are now using the Ford Pro Intelligence software platform, a 33 percent increase over the last year and a 7 percent rise compared to Q1.
Record-Breaking First Half for Ford SUVs; Lincoln Sales Bolstered by New Models
Ford-brand SUVs had a record-setting first half, with sales totaling 406,467, a 3 percent increase. The Explorer, America’s best-selling three-row SUV, led the pack with sales of 104,803. The Escape saw a 15 percent increase, with 74,538 small SUVs sold, and the Expedition also saw strong results, with a 10 percent increase.
Sales at Lincoln accelerated in Q2 due to the positive response to the all-new Lincoln Nautilus. Overall, Lincoln sales were up 19 percent, with the Nautilus leading the way on sales of 8,273 SUVs. The Nautilus hybrid constituted 44 percent of all Nautilus sales in Q2. The Corsair experienced a 17 percent rise in Q2 sales, and the Aviator saw a significant 90 percent increase. The new Lincoln Digital Experience in the Nautilus, recognized with a Wards Ten Best Interior and UX award, is attracting consumers. Ford and Lincoln plan to incorporate this screen into upcoming vehicle interiors.
Remote Services Gain Popularity
Remote Service and Pickup & Delivery services continue to be a success for Ford and Lincoln dealers. During the first six months of 2024, the number of Remote Service appointments reached 1.8 million, which is a 175 percent increase compared with the same period in 2023. This involves a technician going to the vehicle’s location to perform services. Also, the Pickup & Delivery service, where a dealer employee picks up and returns a customer’s vehicle, is also increasing in frequency.
