New models boost Ford Motors market share in US 

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Last month, the Michigan-based automaker Ford sold a total of 190,014 vehicles, contributing to a year-to-date figure of 877,685 vehicles, reflecting a 5.6 percent increase compared to the previous year. Ford boasts that it has surpassed industry growth rates, boosting its market share by 0.7 percentage points to reach 12.8 percent in May.

Ford reported notable growth in electric and hybrid vehicle sales for the month. Sales of electric vehicles surged by more than 64 percent to 8,866 units, while hybrid vehicle sales also saw a similar increase, reaching 17,631 units. These figures outpaced the respective industry segments. Additionally, sales of standard combustion vehicles rose by 5.6 percent to reach 163,417 units.

Despite challenges in the Ford Model e division of electric vehicles due to declining prices, the company’s overall performance in the first quarter exceeded analysts’ expectations, as stated by Chief Financial Officer John Lawler in April.

Ford had high hopes for the ramp-up in production of the 2024 model F-150, a perennial best-seller in the United States pickup market for almost five decades. Sales of the F-150 totaled 238,114 units from January through May, with the electric version of the pickup experiencing a notable 91 percent increase in sales. Furthermore, Ford’s Maverick truck emerged as the leading hybrid pickup in America, with 33,748 units sold in 2024, representing an impressive 80.5 percent year-on-year growth.

While Ford provides monthly sales updates, General Motors, Stellantis (Chrysler, Jeep, etc.), Tesla, and Toyota are expected to announce their second-quarter US sales in early July.

In May, Japanese automaker Honda reported a 6.4 percent increase in US sales, reaching 127,129 vehicles, and an 11.1 percent increase since the beginning of the year, totaling 577,539 vehicles, slightly surpassing its projected growth rate for 2024.

According to reports from Oxford Economics and Cox Automotive, US vehicle sales showed gradual improvement in May, with a month-on-month increase of 0.9 percent. Early May inventory levels were described as relatively robust, prompting consumer interest amid price pressures. Initial estimates put the annual US sales pace in May close to 15.9 million vehicles.