As Ford ramps up production of its F-Series pickup trucks and electric vehicles, February 2023 sales at Ford Motor Company increased by more than 20% from the year before.
Thursday, the Detroit automaker revealed that it sold 157,606 vehicles in February, up 22% from the previous year and 7.7% from January. In February 2022, supply chain issues hampered Ford’s sales, making it one of its worst months since 2021.
Last month, Ford’s F-Series pickup sales increased to approximately 55,000 units, including 1,336 of its electric F-150 Lightning, a 22% increase from a year earlier. F-Series pickup sales have increased by 15% so far this year.
Wall Street continues to pay close attention to Ford’s sales of electric vehicles, which are up 88% from last year. However, only 2.9% of the automaker’s February sales were made up of EVs.
Through February, the manufacturer sold 3,600 electric F-150 Lightning vehicles. However, due to a battery fire last month, the automaker halted production and shipments of the vehicle, resulting in a 41% decrease in sales compared to January.
Auto sales in the United States in February 2023 were better than anticipated, according to Wall Street analysts, with a seasonally adjusted selling rate of about 15 million units. According to estimates provided by BofA Securities, sales increased by 8.5% in February 2022.
Other automakers that reported monthly sales were behind Ford in February. Compared to the previous month, Toyota Motor’s sales decreased by 8.5%, while Hyundai-Kia’s sales increased by 16.2%. Instead of reporting sales on a monthly basis, many automakers now report sales quarterly.
Although it is anticipated that this year’s flow of parts and vehicle production will be more consistent than in previous years, the automotive industry continues to navigate some supply chain and production issues.
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