Ford 1Q Electric Vehicle Sales Surge Amid Mixed Results Among Automakers
By Denny Jacob
Ford Motor reported sales across its electric vehicles surged to start the year, a bright spot as the broader EV sector faces lingering challenges.
The automaker said it sold a little more than 20,000 EVs in the first quarter, which it added made Ford America's second best-selling EV brand behind Tesla for the quarter.
Other notable results in the period include Ford's best-ever quarterly hybrid sales record, which it attributed to an increasing preference for hybrid trucks and SUVs across its gas and hybrid vehicles.
Ford's results signal the fluidity of the EV sector. EV maker Tesla on Tuesday reported its first year-over-year decline in quarterly deliveries since 2020. Other major automakers disclosed first-quarter sales on Tuesday as well, including Hyundai Motor's EV sales which doubled in the first quarter while General Motors saw EV sales decline about 20% during the period.
Challenges in the EV sector include slower growth and soft enthusiasm from consumers about going electric.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
April 03, 2024 10:18 ET (14:18 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Markets Brief: Tech Stocks Lead Ahead of Nvidia Earnings
-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing