Ford continues to outpace Toyota in U.S. sales, with a 10.5% increase in February

Ford’s success in February continued to solidify its position as the top-selling automaker in America for the second consecutive month. The notable increase in sales was driven not only by traditional vehicles but also by the surge in hybrid and electric vehicle (EV) sales, underscoring the growing importance of electrified powertrains in Ford’s lineup.

In February, Ford saw a 10.5% increase in sales, reaching 174,192 vehicles sold, surpassing Toyota’s total of 159,262. Of particular interest was the impressive 31.5% spike in hybrid sales, with over 12,000 units sold, largely fueled by strong demand for the Maverick hybrid compact pickup and Ford Escape small SUV hybrid models.

Moreover, Ford’s EV sales experienced a remarkable 80.1% year-over-year growth in February, with 6,368 units of the Mustang Mach-E crossover and F-150 Lightning pickup sold. This surge in EV sales can be attributed to the aggressive pricing strategies implemented by Ford, particularly with the Mustang Mach-E and Lightning EV models, which likely contributed to the boost in sales. As a result, Ford shares saw a more than 3% increase in early trading on Monday.

Examining the truck segment further, F-Series truck sales dipped by 5.8% compared to the previous year in February. However, SUV sales surged by 23.7% to nearly 85,000 units during the same period.

In the first two months of the year, Ford managed to sell 165,901 trucks and vans, maintaining its position as the top-selling truck manufacturer in the U.S., outselling GM by approximately 26,000 trucks. Notably, Ford also asserted its dominance in the truck market by reporting F-Series pickup sales of 100,531 units through February, surpassing the Silverado by more than 21,000 trucks.

Despite Ford’s commendable performance in truck sales, the automaker is just beginning to roll out its 2024 model year F-150s, starting with the XL and STX trims, with plans to expand to higher trim levels in the coming months. Additionally, while the 2024 Lightning EV is currently subject to a “stop-ship” order due to a minor headlight issue, Ford is expected to mitigate any impact on sales by leveraging existing 2023 inventory.

Across Ford’s competitors, positive trends were observed in February sales. Honda reported a 37.8% increase in sales, reaching slightly over 100,000 units, despite a 6% decline in sales for its Acura division. Hyundai set a sales record with a 6% increase in February, while Kia experienced its third consecutive month of sales decline, down 3%. Both Hyundai and Kia, however, recorded strong sales gains in the EV segment.

Toyota reported a 16% increase in sales to 165,900 units, with Lexus division sales included, totaling 184,450 units, reflecting a 17% rise. Notably, Toyota’s electrified vehicle deliveries surged by 84% to reach 68,445 units, showcasing the growing demand for hybrid and EV vehicles.

As the automotive industry continues to evolve, Ford’s success in hybrid and EV sales not only underscores the changing landscape of transportation but also signals a shift towards more sustainable and efficient vehicles in the market. The company’s continued emphasis on electrified powertrains positions Ford as a key player in the transition towards a greener automotive future.