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Friday, June 9, 2023

Ford’s Q1 Sales Surge 10.7%, Becomes America’s Best-Selling Brand

Ford's Q1 sales increase by 10.7%, making it America's best-selling brand. EV sales grew by 41%, while trucks and SUVs experienced strong growth.

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In the first quarter of 2023, Ford experienced a surge in sales, with a 10.7% increase that made it America’s best-selling brand. The growth was largely driven by strong sales of its iconic vehicles, commercial vehicles, and electric vehicles (EVs).

Trucks and SUVs were the top-performing segments for Ford, with trucks up 19.6% and three-row SUVs up 47.6%. The Bronco brand saw an 18.3% increase in sales, while the Mustang saw a 5.2% increase. Additionally, EV sales grew by 41%, with 10,866 electric vehicles sold in the first quarter.

The F-150 Lightning, Ford’s highly anticipated electric pickup truck, had sales of 4,291 pickups in the first quarter. Production capacity is on track to hit an annual production run rate of 150,000 this year. Sales of the E-Transit, America’s best-selling electric van last year, climbed 62.7%. However, Mustang Mach-E sales were down due to downtime at the plant for changes to increase production.

Ford’s overall vehicle sales, including Ford Blue, Ford Pro, Model e, and Lincoln, totaled 475,906, up 10.1% from a year ago. As America’s No.1 selling truck manufacturer, Ford sold 254,023 trucks and vans in the first quarter, outselling GM’s trucks and vans by approximately 27,000 vehicles. Sales of Ford’s overall trucks, including pickups and vans, were up 19.6%, driven by F-Series pickups (up 21.1%) and Ford Pro’s Transit van (up 86.0%).

To support this momentum, Ford is increasing production at manufacturing plants across North America to meet strong customer demand for vehicles, including Mustang Mach-E, F-150 Lightning, Bronco Sport, and Maverick. Ford’s Kansas City Assembly Plant will add a third crew in April to increase production for Ford Pro of the best-selling Transit and E-Transit vans.

In addition, Ford’s driver assist technology, BlueCruise, is now available on 186,000 vehicles, with customers having accumulated more than 55 million hands-free miles driven with the technology. Consumer Reports rated Ford BlueCruise as the top-rated active driving assistance system.

“Ford is off to a fast start to the year. Ford’s sales growth and investments are a direct result of strong customer demand across our truck, SUV, and electric vehicle segments. And this year’s highly anticipated new product launches with Super Duty, Escape, Mustang and Ranger, will only add to this momentum,” said Andrew Frick, vice president, sales distribution, and trucks.

Ford’s Explorer was the best-selling, three-row midsize SUV in America, and the red-hot Bronco brand saw sales growth of 18.3%, including a 37.6% rise for Bronco. Expedition sales also surged in the first quarter.

In conclusion, Ford’s Q1 sales growth of 10.7% is an impressive achievement, and the company has become America’s best-selling brand as a result. The strong performance of Ford’s iconic vehicles, commercial vehicles, and EVs, particularly in the trucks and SUVs segments, has propelled the company forward. The company’s commitment to investing in new products and increasing production capacity will further drive its success in the coming months.

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