Ford Motor Co. CEO Jim Farley gives the thumbs up sign before announcing Ford Motor will partner with Chinese-based, Amperex Technology, to build an all-electric vehicle battery plant in Marshall, Michigan, during a press conference in Romulus, Michigan February 13, 2023.
Rebecca Cook | Reuters
DETROIT – Ford Motors February sales increased by more than 20% from subdued results a year earlier, as the automaker ratchets up production of its F-Series pickups and electric vehicles.
The Detroit automaker Thursday reported February sales of 157,606 vehicles, up 22% from a year earlier and a 7.7% increase from January. Ford’s sales were hampered by supply chain problems in February 2022 making for one of its worst months since 2021.
Sales of Ford’s F-Series pickups jumped 22% last month compared to a year earlier, increasing to about 55,000 units, including 1,336 units of its electric F-150 Lightning. So far this year, sales of F-Series pickups are up 15%.
Ford’s electric vehicle sales — a major focus of Wall Street — continue to increase, up 88% from a year earlier. However, EV sales still only represent 2.9% of the automaker’s sales through February.
The automaker sold 3,600 electric F-150 Lightning vehicles through February, however sales were off 41% compared to January as the automaker halted production and shipments of the vehicle last month due to a battery fire.
Wall Street analysts estimate US auto sales last month were better than expected, reaching a seasonally adjusted selling rate of about 15 million units.
The automotive industry continues to navigate through some supply chain and production issues, although the flow of parts and vehicle production this year is expected to be more consistent than in recent years.
GIPHY App Key not set. Please check settings