https://auntresodamid.com/iJugHxINePLH1VY/96561
EVs, big SUVs drive Ford Q3 U.S. sales up 8.2%

EVs, big SUVs drive Ford Q3 U.S. sales up 8.2%

Sharing is caring!


Ford Mustang Mach-E and F-150 Lightning on display at the New York International Auto Show on March 28, 2024.

Danielle DeVries | CNBC

DETROIT – Sales of electric vehicles and large SUVs drove Ford Motor‘s third-quarter sales up by 8.2%, the Detroit automaker reported Wednesday.

Ford said sales of all-electric vehicles increased by 30.2% during the period to a new quarterly record of more than 30,600 units. Its “electrified” vehicles, including EVs and hybrids, increased 20% compared with the same period a year earlier.

Sales of Ford’s SUVs increased nearly 10% during the quarter, including massive gains for its larger SUVs as well as the Mustang Mach E EV, which was up 51% from a year earlier.

EV sales during the third quarter are expected to be a record, as buyers pulled ahead plans to purchase a new zero-emissions vehicle ahead federal EV incentives of up to $7,500 ending in September.

Ford CEO Jim Farley on Tuesday said he “wouldn’t be surprised” if sales of EVs fell from an industry market share of around 10% to 12% this month — which is expected to be a record — to 5% after the incentive program ends.

Cox Automotive forecasts sales of EVs hit 410,000 during the third quarter, up 21% from a year earlier. That would easily be the highest amount of EVs ever sold in a quarter in the U.S., as well as a record 10% market share.

Sales of EVs as well as plug-in hybrid electric vehicles that also qualified for federal incentives are expected to assist in boosting third quarter vehicle sales up between 4% and 7%, according to forecasts from Cox and CarMax’s Edmunds.

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



Source link

Oval@3x 2

Don’t miss latest news!

Select list(s):

We don’t spam! Read our [link]privacy policy[/link] for more info.

🕶 Relax!

Put your feet up and let us do the hard work for you. Sign up to receive our latest news directly in your inbox.

Select Your Choice:

We’ll never send you spam or share your email address.
Find out more in our Privacy Policy.

🕶 Relax!

Put your feet up and let us do the hard work for you. Sign up to receive our latest news directly in your inbox.

Select Your Choice:

We’ll never send you spam or share your email address.
Find out more in our Privacy Policy.

Sharing is caring!

Read More :-  Jeff Bezos discloses plan to sell up to $4.8 billion in Amazon stock

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top