Ford Motor Co reported a 6.8% rise in first-quarter U.S. auto gross sales on Wednesday, powered by demand for its pickup vans, crossover SUVs and hybrids.
Gross sales of the automaker’s inexpensive compact Maverick pickup truck surged almost 82% to 39,061 items as extra patrons gravitated towards cheaper automobiles over the previous few months amid increased dwelling prices.
Ford had additionally boosted manufacturing capability for the Maverick, which begins at USD 23,815, late final 12 months to satisfy the sturdy demand.
The Detroit automaker notched general gross sales of 508,083, in contrast with 475,906 a 12 months earlier, as U.S. car gross sales prolonged a current sturdy run.
Shares of Ford rose about 2.3% in morning commerce.
Basic Motors on Tuesday reported a drop in first-quarter U.S. car gross sales on decrease deliveries to industrial prospects however sturdy retail demand helped it to outsell Toyota Motor’s native unit.
Total, U.S. new car gross sales completed at round 15.49 million items on a seasonally adjusted annual fee in March, in keeping with information launched by Wards Intelligence on Tuesday.
Gross sales of Ford’s hybrid automobiles rose 42% to 38,421 items from a 12 months in the past, whereas EVs jumped 86.1%.
Ford mentioned “an growing choice for hybrid vans and SUVs” helped ship its greatest quarterly hybrid gross sales.
On Tuesday, Toyota Motor North America mentioned gross sales of its EVs, which embody hybrids and hydrogen gasoline cell automobiles, rose about 74% to 206,850 items within the quarter.
Peer Stellantis’ FCA US LLC on Wednesday reported a ten% drop in first-quarter U.S. gross sales to 332,540 items, weighed by RAM and Dodge manufacturers.
