Ford Sees 8.2% Sales Surge in Q3 Thanks to EVs and Large SUVs: What This Means for Drivers

Ford is seeing a boost in sales thanks to electric vehicles (EVs) and large SUVs. Recently, they reported an 8.2% increase in third-quarter sales. Sales of all-electric vehicles jumped by over 30%, reaching a record of 30,600 units. Their range also includes hybrids, which together saw a 20% rise compared to last year.

Larger SUVs performed well too, with Ford’s SUVs overall up nearly 10%. The Mustang Mach-E, their electric SUV, gained an impressive 51% in sales year-over-year. This surge comes as many buyers rushed to get a new EV before federal incentives of up to $7,500 ended in September.

Ford’s CEO, Jim Farley, mentioned he wouldn’t be shocked if EV sales dropped significantly after the incentives ended. Currently, EVs represent about 10% to 12% of the market. This month, however, sales are expected to peak, with estimates suggesting around 410,000 EVs will be sold this quarter—an increase of 21% from last year.

Interestingly, experts predict that overall vehicle sales will see a rise of 4% to 7% in the third quarter, driven by the popularity of EVs and plug-in hybrids, according to forecasts from Cox Automotive and CarMax.

This trend highlights a growing shift toward electric vehicles as consumers become more environmentally conscious and look to take advantage of government incentives. However, the future remains uncertain as incentives change. This dynamic will likely influence purchasing decisions and market trends in the coming months.

For more on the state of the electric vehicle market, you can check out Cox Automotive’s report.

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