Ford’s sales post slight gain in August

Ford Motor Co.’s sales ticked up 2% year-over-year in August, according to numbers released Tuesday.

The Dearborn automaker sold 161,300 new vehicles in the United States last month, up from 158,088 in August 2022.

Sales of internal combustion engine vehicles, which make up the bulk of Ford’s sales, were essentially flat compared to a year ago. The automaker sold 6,940 battery-electric vehicles in August, up 17.7% from a year ago. And hybrid-vehicle sales of 10,945 were up nearly 32%.

Ford has opted for a vehicle portfolio that includes ICE, hybrid and electric vehicles, in contrast to some competitors that are skipping hybrids in favor of focusing entirely on all-electric vehicles.

“It’s a good start, but there is still more upside to be had,” Erich Merkle, head of U.S. sales analysis for Ford, said of August’s hybrid sales results. “F-150 hybrid is America’s best-selling hybrid truck followed by Maverick Hybrid as America’s second best-selling hybrid truck.”

Ford’s results largely underperformed gains seen across much of the industry. American Honda, which includes the Honda and Acura brands, posted a 56.7% year-over-year gain, for example. Hyundai–Kia’s sales were up more than 5% from a year ago. Industry information provider Cox Automotive had forecast an 8.8% year-over-year sales gain for the industry in August, driven by rising inventory levels and strong fleet sales.

“The supply recovery continues to improve across the country, and this is leading to the market’s sales gains this year,” Charlie Chesbrough, senior economist at Cox, said. “In addition, the return of supply is also bringing back more discounting from manufacturers. But rising interest rates, and their impact on affordability, remain strong headwinds against a more robust vehicle market.”

Year to date, Ford’s sales are up 8.5%.