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Ford’s May U.S. sales rise on electric, hybrid vehicles

The Mustang Mach-E on display at the New York International Auto Show on March 28, 2024.

Danielle DeVries | CNBC

DETROIT – Ford engine New vehicle sales in the United States increased 11.2% last month compared to May last year, driven by strong growth in sales of fully electric and hybrid models.

The Detroit automaker announced a roughly 65% ​​increase in sales of hybrid and fully electric vehicles on Tuesday. This compares to a 5.6% increase in sales of traditional Ford vehicles equipped with internal combustion engines.

Despite notable increases in hybrid and electric vehicles, sales in these segments totaled approximately 26,600 vehicles combined. That’s just 14% of the automaker’s more than 190,000 total sales last month.

Rising sales of electric vehicles pose a headache for investors. Ford wants to increase its electric vehicle sales to increase its size and help offset tightening fuel economy standards and emissions, but the company’s Model E electric vehicle unit continues to lose millions of dollars per year. quarter.

Ford announced in April that its division lost $1.32 billion on 10,000 vehicles sold wholesale between January and March. Although the unit also includes electric vehicle-related businesses such as software, these losses equate to a loss of $132,000 for each vehicle sold by the unit.

This is breaking news. Please check back for additional updates.

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