Ford reports 7.1% increase in US vehicle sales

DETROIT – Ford Motors U.S. sales rose about 7% last year, marking the automaker’s best sales since 2020, but lagged overall industry growth.

Ford on Thursday reported sales of nearly 2 million vehicles in 2023, an increase of 7.1% from a year earlier. The company finished third in overall sales in the United States, behind ToyotaEngine and General Motors.

Ford’s overall sales in 2023 lag industry sales growth, which automotive data firm Motor Intelligence says topped 15.6 million last year, marking a 12.3% increase from 2022 and the best performance in the segment since more than 17 million vehicles in 2019.

“In a year of challenges, from a labor strike to supply issues, our incredible line of gas, electric and hybrid vehicles and our fantastic dealerships generated strong growth and momentum. We have the products customers want,” said the CEO of Ford, Jim Farley, in a release.

Electric vehicle sales totaled 72,608 for the year, up 18% from 2022 and driven by nearly 26,000 electric vehicles sold during the fourth quarter. Ford said sales of its F-150 Lightning electric pickup truck, which saw price adjustments earlier this week, rose 74% during the fourth quarter. Sales of the Mustang Mach-E posted the best annual figure since the vehicle’s launch in 2021, the company said.

Electrified vehicles, including hybrids and EVs, accounted for only about 10% of Ford’s total sales in 2023.

Hybrid sales increased 25% for the full year in 2022 and 55% in the fourth quarter.

For the 47th consecutive year, the Ford F-Series was the best-selling truck in the United States and the best-selling vehicle in the United States for the 42nd consecutive year. Sales exceeded 750,000 units last year, up about 15% from the previous year.

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Correction: This story has been updated to correct that Ford Motor’s 2023 sales were the automaker’s best since 2020.