• Ford Motor Company U.S. retail sales climb 4% in Q3, with overall sales up 1%, compared to a 2% decline for the total industry

• Ford is the No. 2 electric vehicle brand in the U.S. with sales up 12% in Q3; Ford commanded highest transaction prices of all non-luxury electric vehicle brands 

• Ford is No. 1 in hybrid trucks with a 77% segment share; total hybrid sales up 38% 

• Ford, America’s best-selling brand in Q3, is also No. 1 in the following segments: trucks (F-Series), hybrid trucks (F-150 Hybrid), vans (Transit), three-row SUVs (Explorer) and sports cars (Mustang)  

• Ford Pro Intelligence software platform active subscriptions up an estimated 30% year-over-year  

Dearborn, Mich., Oct. 2, 2024 – Ford and Lincoln's strategy of offering customers a choice of powertrains for their vehicles continues to pay off, with company retail sales up 4% in the third quarter. This contrasts with overall U.S. retail industry sales, estimated to be flat for the quarter. 

Total Ford sales outpaced the industry, rising 1% compared with a 2% decline for the overall market.

Customers continued to favor hybrid vehicles during the summer months. Sales increased 38% to 48,101 in the third quarter, while electric vehicle sales grew 12%. These results come before customers can take advantage of the new Ford Power Promise, which includes a complimentary home charger with standard installation at no extra charge, and access to a 24/7 Ford advisor for electric vehicle support. 

“Different lifestyles and use cases require unique types of power,” said Andrew Frick, president, Ford Blue and Ford Customer Service Division. “We’ve listened to customers to offer them vehicles with powertrains to meet their specific needs, and their response validates our product strategy.”

Truck Leadership Continues 

The Ford F-Series exemplifies the Ford Freedom of Choice strategy, boasting an unmatched powertrain lineup. With gas and diesel-powered Super Duty trucks and the light-duty F-150 — available in gas, hybrid and electric — F-Series sales totaled 550,835 through September. The F-Series now outsells the Chevrolet Silverado by 138,000 and the Ram by 282,000 trucks, expanding its lead as it aims to be America’s best-selling truck lineup for the 48th consecutive year in 2024.

Best-Selling Hybrids 

F-150 hybrid sales rose 64% in the third quarter to 20,129, making it the best-selling hybrid truck. It topped another Ford model, the Maverick, which saw sales rise 22% to 16,561. The two trucks combined account for 77% of the hybrid pickup segment.

Lincoln Nautilus Q3 Sales Best in 17 Years 

Lincoln sales accelerated in the third quarter, up 26%, driven by the continued strength of the all-new Nautilus and the launch of the new Aviator.

Nautilus sales totaled 8,799, its best third-quarter performance since 2007. For the quarter, Nautilus hybrids represented 46% of all Nautilus sales (4,046), up 12% compared with the second quarter. 

Aviator sales totaled 5,543, with the new SUVs spending an average of 16 days on dealer lots.

New Explorer Sales Up 25% 

Sales of the new Ford Explorer launched in the third quarter. Explorer totaled 41,996, up 25%. Year-to-date, Explorer sales are up 6%, and it remains America’s best-selling three-row SUV.

Year-to-date, sales of the larger Ford Expedition rose 3%, while sales of the smaller Escape climbed 7%. Ford will debut an all-new Expedition on Oct. 3. 

Ford Electric Vehicles Continue to Rise

Ford brand electric vehicle sales are up 45% this year, second only to Tesla in the U.S. market. With 67,689 electric vehicles sold through September, Ford’s electric vehicles are having a record sales run. 

Sales of the electric F-150 Lightning more than doubled, helping overall Ford electric vehicle sales post a 12% quarterly gain. America’s best-selling electric van, the Ford E-Transit, posted a 13% gain on sales of 2,955 vans.

In the third quarter, Ford brand electric vehicles had the highest transaction prices of all non-luxury electric vehicle brands. Ford maintains a lease mix that is currently 35 percentage points below that of the overall electric vehicle segment, helping to better support residual values. 

Ford Pro Vehicles, Intelligence Software Sales Up

F-Series Super Duty sales increased 12% compared with a year ago and are up 9% through September. 

Ford vans account for 52% of the full-size van segment so far in 2024 as the company looks to make it 46 consecutive years as a leader in that segment.

As America’s No. 1-selling van, Transit sales totaled 114,281 through September — up 17% over the same nine-month period last year. 

Ford was No. 1 in commercial vehicle sales based on the most recent registration data through July. Ford U.S. Class 1-7 commercial truck and van share grew to 42.5%, up 2 percentage points compared with the same period last year.

The Ford Pro Intelligence software platform now has approximately 620,000 active subscriptions, based on end-of-quarter estimates, up about 30% year-over-year. 

Remote Services Continue Rapid Growth

Ford and Lincoln dealers provided customers with more than 1 million remote service experiences in the third quarter. These include Mobile Service — in which technicians drive to service a customer’s vehicle — and Pickup & Delivery — in which a dealer employee picks up, services and returns a customer’s vehicle. 

Dealers have provided more than 2.8 million remote service experiences during the first nine months of 2024, up 118% compared with the same period a year ago.

*U.S. sales volume reflects transactions with (i) retail and fleet customers (as reported by dealers), (ii) government and (iii) Ford management. Average transaction pricing based on J.D. Power and Associates PIN data.

###

Cautionary Note on Forward-Looking Statements

Statements included or incorporated by reference herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation:

• Ford is highly dependent on its suppliers to deliver components in accordance with Ford’s production schedule and specifications, and a shortage of or inability to acquire key components or raw materials, such as lithium, cobalt, nickel, graphite, and manganese, can disrupt Ford’s production of vehicles;

• To facilitate access to the raw materials and other components necessary for the production of electric vehicles, Ford has entered into and may, in the future, enter into multi-year commitments to raw material and other suppliers that subject Ford to risks associated with lower future demand for such items as well as costs that fluctuate and are difficult to accurately forecast;

• Ford’s long-term competitiveness depends on the successful execution of Ford+;

• Ford’s vehicles could be affected by defects that result in recall campaigns, increased warranty costs, or delays in new model launches, and the time it takes to improve the quality of our vehicles and services could continue to have an adverse effect on our business;

• Ford may not realize the anticipated benefits of existing or pending strategic alliances, joint ventures, acquisitions, divestitures, or business strategies;

• Ford may not realize the anticipated benefits of restructuring actions and such actions may cause Ford to incur significant charges, disrupt our operations, or harm our reputation;

• Operational information systems, security systems, vehicles, and services could be affected by cybersecurity incidents, ransomware attacks, and other disruptions and impact Ford and Ford Credit as well as their suppliers and dealers;

• Ford’s production, as well as Ford’s suppliers’ production, and/or the ability to deliver products to consumers could be disrupted by labor issues, public health issues, natural or man-made disasters, adverse effects of climate change, financial distress, production difficulties, capacity limitations, or other factors;

• Failure to develop and deploy secure digital services that appeal to customers could have a negative impact on Ford’s business;

• Ford’s ability to maintain a competitive cost structure could be affected by labor or other constraints;

• Ford’s ability to attract, develop, grow, and reward talent is critical to its success and competitiveness;

• Ford’s new and existing products and digital, software, and physical services are subject to market acceptance and face significant competition from existing and new entrants in the automotive and digital and software services industries, and its reputation may be harmed if it is unable to achieve the initiatives it has announced;

• Ford’s results are dependent on sales of larger, more profitable vehicles, particularly in the United States;

• With a global footprint and supply chain, Ford’s results and operations could be adversely affected by economic or geopolitical developments, including protectionist trade policies such as tariffs, or other events;

• Industry sales volume can be volatile and could decline if there is a financial crisis, recession, public health emergency, or significant geopolitical event;

• Ford may face increased price competition or a reduction in demand for its products resulting from industry excess capacity, currency fluctuations, competitive actions, or other factors, particularly for electric vehicles; 

• Inflationary pressure and fluctuations in commodity and energy prices, foreign currency exchange rates, interest rates, and market value of Ford or Ford Credit’s investments, including marketable securities, can have a significant effect on results;

• Ford and Ford Credit’s access to debt, securitization, or derivative markets around the world at competitive rates or in sufficient amounts could be affected by credit rating downgrades, market volatility, market disruption, regulatory requirements, or other factors;

• The impact of government incentives on Ford’s business could be significant, and Ford’s receipt of government incentives could be subject to reduction, termination, or clawback;

• Ford Credit could experience higher-than-expected credit losses, lower-than-anticipated residual values, or higher-than-expected return volumes for leased vehicles;

• Economic and demographic experience for pension and OPEB plans (e.g., discount rates or investment returns) could be worse than Ford has assumed;

• Pension and other postretirement liabilities could adversely affect Ford’s liquidity and financial condition;

• Ford and Ford Credit could experience unusual or significant litigation, governmental investigations, or adverse publicity arising out of alleged defects in products, services, perceived environmental impacts, or otherwise;

• Ford may need to substantially modify its product plans and facilities to comply with safety, emissions, fuel economy, autonomous driving technology, environmental, and other regulations;

• Ford and Ford Credit could be affected by the continued development of more stringent privacy, data use, data protection, and artificial intelligence laws and regulations as well as consumers’ heightened expectations to safeguard their personal information; and

• Ford Credit could be subject to new or increased credit regulations, consumer protection regulations, or other regulations.

We cannot be certain that any expectation, forecast, or assumption made in preparing forward-looking statements will prove accurate, or that any projection will be realized. It is to be expected that there may be differences between projected and actual results. Our forward-looking statements speak only as of the date of their initial issuance, and we do not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events, or otherwise. For additional discussion, see “Item 1A. Risk Factors” in our 2023 Form 10-K Report, as updated by our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.