Ford EV and hybrid sales surge 65% in May

Last month, Ford Motor witnessed a notable 11.2% year-on-year increase in U.S. new vehicle sales. This growth can be attributed to the strong sales performance of all-electric and hybrid models. The Detroit automaker experienced approximately 65% sales growth in both hybrid and all-electric vehicles, surpassing the 5.6% increase in sales for traditional combustion engine vehicles. Although hybrid and EV sales only accounted for 14% of the total sales, Ford aims to expand its EV market share to meet stricter emissions and fuel economy standards. However, the company’s electric vehicle unit continues to face significant financial losses. Ford reported a loss of $1.32 billion for the quarter, equating to a loss of $132,000 per vehicle sold.

Ford’s U.S. EV and Hybrid Sales Surge Despite Financial Losses

In May, Ford Motor experienced an 11.2% rise in U.S. new vehicle sales, driven by strong demand for all-electric and hybrid models. Sales of hybrid and EV vehicles saw a significant increase of approximately 65%, outperforming traditional combustion engine vehicles, which only grew by 5.6%. Despite the positive growth, the combined sales of hybrid and EV vehicles accounted for only 14% of Ford’s total sales. Ford is aiming to expand its EV market share to meet stricter emissions standards, but its electric vehicle unit continues to face substantial financial losses. In the first quarter, the unit reported a loss of $1.32 billion, averaging a loss of $132,000 per vehicle sold.