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Ford Motor Company reported a 13.4% increase in U.S. vehicle sales last month, with a significant boost in sales of their F-Series trucks and hybrid models. In August, the Detroit automaker sold nearly 183,000 vehicles, including a 12.3% increase in trucks and a remarkable 50% surge in hybrid vehicles compared to the previous year. The company also saw a 29% rise in sales of all-electric vehicles, with the F-150 Lightning pickup leading the charge.
Despite the growth in electrified vehicles, traditional cars and trucks with internal combustion engines still made up 86% of Ford’s sales in August. This solid performance exceeded industry estimates of a 6% year-over-year sales increase from a year earlier, according to Barclays.
While U.S. auto sales have remained stable in 2024, they are slightly below initial expectations. Barclays recently revised its 2024 sales forecast from 16 million vehicles to 15.8 million, pointing to a 15.7 million sales pace through August. Despite challenges such as high prices and interest rates, Ford’s U.S. sales saw a 4.3% increase through August, totaling 1.4 million units.
But Ford wasn’t the only automaker to see double-digit sales growth in August. The Hyundai brand reported a 22% increase in sales compared to the same month in 2023, highlighting the overall resilience of the U.S. auto market.
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