Ford Motor Company (NYSE:F) increased US sales 15.2% last month, overtaking overall industry growth thanks to stronger truck and hybrid vehicle sales, compensating for soft demand for electric vehicles.
Total market share for the Dearborn, Michigan company was boosted to 12.6%.
Truck sales roared up 29.2%, with F-Series models seeing a 26% increase and the compact Maverick truck sales up by 14%. The midsize Ranger, built at the Michigan Assembly Plant, reported over ten times the sales volume from the previous October.
Hybrid vehicle sales rose significantly by 39%, reflecting Ford’s focus on hybrid technology amid softer-than-expected demand for electric vehicles.
Ford’s EV sales fell 8.3% in October, primarily due to declining F-150 Lightning demand, prompting Ford to suspend production of the electric truck from November 18 into early 2025 to preserve profitability in the Model e division.
Internal combustion vehicles continued to dominate Ford’s lineup, representing 86% of total sales and marking a 14% year-over-year increase. Ford also noted strong growth in its luxury Lincoln brand, with notable increases in the Nautilus and Aviator models.
Ford's total U.S. sales reached 1.7 million vehicles through October, a 3.8% increase compared to the same period in 2023.