Ford January U.S. Sales Drop 6.3% Due to ICE Demand Decline
Ford Motor Company reported a 6.3% year-over-year decline in its January U.S. sales. Total sales for the month reached 142,944 units, including both internal combustion engine (ICE) and electrified vehicles.
This drop was primarily driven by a decrease in ICE vehicle demand, as sales fell from 125,159 units in January 2023 to 113,983 units in January 2024. However, the company's electrified vehicle sales saw a significant increase of approximately 20%. Ford sold 18,961 electrified units, including both electric and hybrid models, compared to 15,743 units in January 2023.
These sales figures are indicative of the ongoing shift towards electric vehicles in the U.S. automotive market. While demand for ICE vehicles continues to decline, the popularity of electrified alternatives is growing. Ford's investment in its electric vehicle lineup, including the Mustang Mach-E and F-150 Lightning, is helping the company to capitalize on this trend.