A Ford Raptor pickup truck is displayed for sale at a Ford dealership on August 21, 2024 in Glendale, California.
Mario Tama | Getty Images
DETROIT — Ford Engines U.S. vehicle sales rose 13.4% last month, led by increases in the company's F-Series trucks and hybrid models.
The Detroit automaker on Thursday reported sales of nearly 183,000 vehicles in August, including a 12.3% increase in pickup trucks and a roughly 50% increase in hybrid vehicles compared with a year earlier. Its all-electric vehicle sales rose 29% during that period, including a notable increase in its F-150 Lightning pickup truck.
Despite the rise of electrified vehicles, traditional cars and trucks with internal combustion engines still accounted for 86% of Ford's sales last month.
Ford's August sales beat industry estimates for a roughly 6% year-over-year increase, according to Barclays.
Despite high prices and high interest rates, U.S. auto sales have held steady in 2024, but they are not as high as some had expected at the start of the year. Barclays on Thursday lowered its 2024 sales forecast to 15.8 million from 16 million vehicles, citing a sales pace of 15.7 million through August.
“While potential interest rate cuts may help affordability, as long as [manufacturers] If prices are to be kept high, it will probably be difficult [seasonally adjusted annual rate] “to break above the ~16.0 million level,” Barclays' Dan Levy wrote in a note to investors on Thursday.
Ford's U.S. sales through August rose 4.3 percent to 1.4 million units.
Ford's August sales weren't the only ones with double-digit increases. While not all automakers report monthly sales, the Hyundai brand reported a 22% increase in sales last month compared to August 2023.
