Ford US new vehicle sales climb 7.1%, highest since 2020

Ford said its F-150 Lightning, Mustang Mach-E contributed to growth in EV sales

Ford on Thursday said that it sold almost two million vehicles in the U.S. in 2023, its best number since 2020.

That sales figure marked a 7.1% increase from 2022, when the automaker posted 1.86 million in U.S. sales.

Ford touted the sales performance of its F-Series trucks, which saw a year-over-year jump of 15% in 2023. Annual U.S. sales of the trucks hit nearly 750,800, according to the automaker.

Ford trucks lined up on dealer lot

Ford F-150 pickup trucks at a dealership in Colma, California, US, on Friday, July 22, 2022. (David Paul Morris/Bloomberg via Getty Images / Getty Images)

The F-Series recently celebrated its 47th year in a row as America’s best-selling truck, in addition to its 42nd as the best-selling vehicle.

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"In a year of challenges, from a labor strike to supply issues, our amazing lineup of gas, electric and hybrid vehicles and our fantastic dealers delivered solid growth and momentum. We have the products that customers want," Ford CEO Jim Farley said in a statement.

Ticker Security Last Change Change %
F FORD MOTOR CO. 13.05 +0.10 +0.81%

Ford Motor Co.

Ford said hybrid vehicle sales were up 25% for the year, and in the fourth quarter, it sold 37,229 hybrids.

The corporate logo of Ford at a motor show

The corporate logo of Ford is seen at Brussels Motor Show, Belgium, on January 9, 2020.  (REUTERS/Francois Lenoir / Reuters Photos)

Meanwhile, the automaker said that it sold 72,608 electric vehicles in 2023, an 18% increase from the prior year. Ford said its F-150 Lightning and Mustang Mach-E contributed to the growth, with the latter having its best year of sales since the vehicle's launch in 2021.

2023 Ford Mustang Mach-E Premium electric vehicle.

A 2023 Ford Mustang Mach-E Premium electric vehicle. (Ford Motor Co. / Fox News)

Ford remains the second-most popular seller of electric vehicles in the U.S. behind Tesla.

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Farley said that the company is "spring-loaded for 2024 with new versions coming of our most popular trucks and SUVs, a full year of new Super Duty and Mustang, and a big year for Lincoln."

Ford’s reporting of its 2023 U.S. sales follows General Motors and Toyota doing so earlier in the week, with the former selling 2.6 million and the latter selling 2.2 million. 

Ticker Security Last Change Change %
GM GENERAL MOTORS CO. 45.08 -0.02 -0.04%
TM TOYOTA MOTOR CORP. 232.88 +2.47 +1.07%

FORD INTRODUCING IN-VEHICLE CUSTOMER FEEDBACK TOOL

It also comes about a month ahead of when the automaker is expected to release its fourth-quarter results.

FOX Business' Eric Revell contributed to this report