The Ford Motor Company demonstrated impressive results in the first quarter of 2024, maintaining its position as the leading truck seller in America. Sales grew by 7%, surpassing the industry average, with both Ford and Lincoln brands contributing to the positive performance. The Ford Maverick and Maverick Hybrid were particularly successful, achieving their best quarter ever.

Ford’s Hybrid Vehicle Sales Experience 42% Growth in Q1

Hybrid vehicle sales surged by 42%, marking Ford’s strongest quarter in this segment. The Maverick Hybrid emerged as the top-selling hybrid truck in America, with a 77% increase in sales compared to the previous year. Total hybrid sales for Q1 reached 38,421 vehicles, indicating a growing preference for hybrid trucks and SUVs among customers. The company foresees continued growth with the availability of more F-150 hybrid units at dealerships.

Ford's electric vehicle (EV) sales also saw substantial gains, with an 86% increase, solidifying the company's position as the second-leading EV brand in the U.S. Strong sales figures from the Mustang Mach-E and F-150 Lightning, as well as a 25% sales increase for the Ford Transit van, contributed to this success. Ford brand SUVs achieved their best quarter to date, with a total sales increase of 15% over the previous year, driven by models like the Explorer, Escape, Bronco Sport, and Expedition. Lincoln also experienced a notable 31% sales uptick, led by models such as the Lincoln Nautilus.

Ford’s Stock Price Rises Following Strong Q1 Deliveries Report

After Ford's impressive Q1 deliveries report, the company's stock price showed positive movement. As of 10:06 AM EDT, Ford Motor Company's stock price was at $13.45, reflecting a 1.28% increase from the previous close. The day's trading range was between $13.23 and $13.57, showcasing investor optimism and active trading interest. With a market capitalization of $53.445 billion and a PE Ratio (TTM) of 12.45, Ford's valuation seems strong compared to its earnings. The company's commitment to shareholders is evident through its forward dividend and yield of 0.60 (4.52%). The day's trading volume was $9,466,969, with an average volume of $54,039,544, indicating significant investor interest in Ford's stock.

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The post "Ford's Hybrid and Electric Vehicle Sales Surge in Q1, Driving Overall Growth" was originally published on Tokenist.