Led by a surge in EV sales, Ford (NYSE:F) sold 545,522 vehicles in the third quarter, an increase of 8.2% from the same quarter last year and the seventh consecutive month of higher sales.
This was in-line with Wall Street’s expectations.
The company’s push to sell more electric vehicles resulted in a 30.2% surge in the quarter with the Mustang Mach-E achieving a 50.7% increase, followed by a 14.7% increase in the sale of hybrid vehicles, a third quarter record. Ford (NYSE:F) sold 6.3% more vehicles powered by an internal combustion engine.
Within its SUV lineup, the Expedition was the top-selling brand with a 47.4% gain, its best third quarter in two decades.
Sales of its popular F-Series truck increased 4.7% year-over-year to 207,732 total vehicles. For the year, the company sold 620,580 F-Series trucks, outselling its nearest competitor by 170K trucks.
Ford (NYSE:F) shares opened on Wednesday with a gain of nearly 2%.
