Ford's hybrid vehicle sales surge to offset EV decline in January
Publishing timestamp: 2024-02-02 11:19:48
Summary
Ford Motor reported a slight increase in sales for January, driven by a significant jump in hybrid vehicle sales. However, sales of all-electric cars and trucks declined. Ford's focus on hybrids is part of its strategy to double down on technology, as demand for hybrids has increased while adoption of electric vehicles has been slower than expected. The company is ramping up production of its E-Transit electric van. Despite the emphasis on hybrids, traditional cars and trucks still accounted for 90% of Ford's sales. Ford's highly profitable F-Series pickups saw a 12% decline in sales. The article also mentions that Ford will release its fourth-quarter and year-end earnings results soon, following the release of positive results and guidance from its rival General Motors.
Sentiment: NEUTRAL
Keywords: business, general motors co, earnings, transportation, ford motor co, business news, autos, breaking news: business, electric vehicles,
Source: https://www.cnbc.com/2024/02/02/ford-hybrid-vehicle-sales-surge-to-offset-ev-decline-in-january.html