Ford’s U.S. sales rise in May on electric and hybrid vehicles | Wilnesh News

Detroit – Ford Motor Company’s Driven by strong growth in sales of pure electric and hybrid models, U.S. new car sales rose 11.2% last month compared with May last year.

detroit automaker Tuesday report Sales of hybrid and fully electric vehicles increased by about 65%. By comparison, Ford’s sales of traditional internal combustion engine vehicles grew 5.6%.

Despite significant growth in hybrids and electric vehicles, sales in these segments totaled approximately 26,600 units. That represents just 14% of the automaker’s total sales of more than 190,000 vehicles last month.

The growth of electric vehicle sales is a conundrum for investors. Ford hopes to increase sales of electric vehicles to expand scale and help offset increasingly strict fuel economy standards and emissions, but the company’s Model E electric vehicle unit has posted huge losses.

Ford reported in April that it lost $1.32 billion on the 10,000 vehicles it wholesaled from January to March. While the segment also includes software and other EV-related businesses, these losses amounted to a loss of $132,000 per vehicle sold by the segment.

Ford nearly doubled sales of its all-electric F-150 Lightning pickup truck in May compared with May 2023.

The surge in hybrid sales is part of Ford’s plan to invest more in technology. The automaker said earlier this year it would delay production of new all-electric vehicles and instead focus on offering hybrid models across its entire North American lineup in 2030.

Ford reported year-to-date total U.S. sales of 877,685 vehicles through May, up 5.6% compared with the same period in 2023.