Ford’s Hybrid and Electric Vehicle Sales Surge in Q1, Driving Overall Growth
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Ford’s Hybrid and Electric Vehicle Sales Surge in Q1, Driving Overall Growth

Ford Motor Company's strong performance in the first quarter of 2024 helped the automaker maintain its position as America's top truck seller.
Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.

Ford Motor Company (NYSE: F) showcased a robust performance in the first quarter of 2024, maintaining its position as America’s top truck seller. Sales increased 7%, outpacing the overall industry, with both Ford and Lincoln brands contributing to the growth. The Ford Maverick and Maverick Hybrid played a significant role in this success, recording their best quarter ever.

Ford’s Hybrid Vehicle Sales Grew 42% in Q1

Hybrid vehicle sales saw a remarkable 42% rise, marking Ford’s strongest quarter in this segment. The Maverick Hybrid emerged as America’s top-selling hybrid truck, with sales jumping 77% year-over-year. Total hybrid sales for Q1 surged to 38,421 vehicles, supported by increasing customer preference for hybrid trucks and SUVs. The company anticipates continued growth as more F-150 hybrid units reach dealerships.

Ford’s electric vehicle (EV) venture also witnessed impressive gains, with EV sales up 86%, solidifying the company’s position as America’s second-leading EV brand.

The Mustang Mach-E and F-150 Lightning posted strong sales figures, contributing to this success. Additionally, the Ford Transit, America’s best-selling van, recorded a 25% increase in sales. Ford brand SUVs had their best quarter ever, with total sales increasing 15% over the previous year, led by the Explorer, Escape, Bronco Sport, and Expedition models. Lincoln sales also saw a significant 31% upturn, driven by the Lincoln Nautilus and other models.

Ford’s Stock Price Sees Uptick After Robust Q1 Deliveries Report

Following the announcement of Ford’s impressive Q1 deliveries, the company’s stock price showed positive movement.

As of 10:06 AM EDT, Ford Motor Company’s stock price stood at $13.45, up 1.28% from the previous close of $13.28. The day’s trading range was between $13.23 and $13.57, reflecting investor optimism and active trading interest. With a market capitalization of $53.445 billion and a PE Ratio (TTM) of 12.45, Ford’s valuation appears healthy compared to its earnings.

The company’s commitment to shareholders is evident through its forward dividend and yield of 0.60 (4.52%). The trading volume for the day was recorded at 9,466,969, with an average volume of 54,039,544, indicating strong investor interest in Ford’s stock.

Are you surprised by Ford’s Q1 delivery numbers? Let us know in the comments below.

Disclaimer: The author does not hold or have a position in any securities discussed in the article.