February 29, 2024

Ford Motor Co has announced the sale of over 700,000 F-series trucks in the U.S. this year, maintaining its status as the best-selling truck in the country for the 47th consecutive year. The company’s CEO, Jim Farley, highlighted the accomplishment on social media, emphasizing the success of Ford’s diverse truck offerings, including the F-150 Lightning and the F-150 Hybrid. Despite this success, Ford has faced challenges such as a historic labor union strike and changing market demands, leading to cost and production issues. The company is also experiencing dealers opting out of its electric vehicle program due to stringent investment criteria and other membership conditions. This positive trend in F-series sales is pivotal, marking the first instance of year-on-year growth since 2018, despite the challenges the company has faced. Ford is now developing its second-generation full-size electric pickup truck and intends to build it at its EV and battery manufacturing campus in West Tennessee in 2025. The company reported a 13.4% year-on-year increase in F-series truck sales in the third quarter, totaling 573,370 by the end of the quarter, surpassing General Motors Co’s Silverado by a substantial margin. Despite the challenges, Ford is hopeful for the future and is looking to navigate the changing market demands.

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