Ford's Q1 Sales Drop, SUVs Shine, EVs Stumble
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Fords first quarter US sales plummeted by 8.8% to 457,315 vehicles, following a surge in 2022 due to anticipated tariffs. Despite a slight increase in retail market share to 11.6%, Fords F-Series trucks, their top-selling model, saw a significant drop of 16% to 159,901 units, partly due to production issues from last years aluminum plant fires. SUV demand remained strong, with Explorer sales surging 29.7% and Expedition rising 30.2%. However, electric vehicle sales plummeted by 70% to 6,860 units, with the F-150 Lightning plunging from 7,187 to 2,060. Hybrids also dipped, while rivals like GM experienced an even steeper decline. Affordability remains a concern as new car prices approach $50,000 and financing remains expensive, potentially leading to an uneven recovery throughout the year unless the economy improves.
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