Ford Motor Company wrapped up a strong year in 2024, with impressive results in both traditional and electrified vehicle sales. In Q4, Ford's U.S. sales rose 8.8%, fueled by a 21.1% increase in F-Series truck sales. For the full year, Ford reported a 4.2% jump in U.S. sales, totaling 2.08 million vehicles.
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Create account Try a demo Download mobile app Download mobile appSales breakdown:
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Total vehicle sales:
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Q4 2024: 530,660 units (+8.8%)
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2024: 2.08 mln units (+4.2%)
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EV sales:
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Q4 2024: +16.3%
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2024: 285,291 units (+38.3%)
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Hybrid vehicle sales:
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Q4 2024: +26.5%
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2024: 187,426 units (+4.2%)
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The F-Series, marking its 48th consecutive year as America’s top-selling truck, continues to drive Ford’s success. The company’s strategy of offering multiple fuel options, including gas, diesel, hybrid, and electric models, proved effective, with all F-Series versions showing year-over-year growth in December. The Mustang Mach-E, on the other hand, had its best-ever quarter in Q4, becoming the second-best-selling electric SUV in the U.S. behind Tesla's Model Y.
Although Ford's stock remains relatively weak since July's underwhelming Q2 results (EPS: 0.47 vs 0.68 estimate), its retail sales increased 6% in 2024, double the industry pace. The reported industry outperformance has helped the stock to rebound 2% from its most recent low, but the overall market trend is still defined by the fluctuating sentiment.
Additionally, despite the success in vehicle sales, Ford’s EV division is still facing financial challenges, with ongoing losses. This includes delays in the opening of EV factories and the cancellation of certain models, such as a planned full-size SUV. However, the company remains committed to electrification as part of its broader strategy, with strong gains in both the luxury Lincoln brand and its electrified lineup, showing progress toward long-term goals.
In the broader EV market, Ford is competing with GM, which saw a significant increase in EV sales (+4.2% over 2024; estimate), and Tesla, which faced a 1.1% decline in sales. Both Ford and GM are shifting focus toward hybrid vehicles as they gain popularity over pure EVs.
Source: xStation5
