Ford Mustang Mach-E and F-150 Lightning exhibited at the New York International Auto Show on March 28, 2024.
Danielle Devries | CNBC
Detroit – Sales of electric vehicles and large SUVs have led Ford engineThird quarter sales of 8.2%, the Detroit car manufacturer reported on Wednesday.
Ford said that electric vehicle sales increased by 30.2% during the period for a new quarterly record of more than 30,600 units. Its “electrified” vehicles, including electric vehicles and hybrids, increased by 20% compared to the same period a year earlier.
Ford SUV sales increased by almost 10% during the quarter, including massive gains for its larger SUVs as well as the Mustang Mach e, which increased by 51% compared to the previous year.
Sales of electric vehicles in the third quarter should be a record, as buyers have taken the intention to buy a new zero-upcoming vehicle from Federal EV incentives up to $ 7,500 ending in September.
Ford CEO Jim Farley said on Tuesday that it “would not be surprised” if sales of electric vehicles had dropped on the one hand industry market by around 10% to 12% this month – which should be a record – 5% after the end of the incentive program.
COX Automotive provides that EV sales reached 410,000 in the third quarter, up 21% compared to the previous year. It would be easily the greatest number of EVs ever sold in a quarter in the United States, as well as a record market share of 10%.
Sales of electric vehicles as well as rechargeable hybrid electric vehicles which have also been qualified for federal incentives should help increase vehicle sales in the third quarter between 4% and 7%, depending on COX and COX forecasts and Carmax Edmunds.
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