Ford (F) posted a strong fourth quarter US report, one that capped off a strong year for the Dearborn, Mich.-based automaker.
Ford said US sales in Q4 rose 8.8% versus a year ago, powered by F-Series sales that jumped 21.1% in the quarter. For the year, Ford reported a 4.2% jump in US sales, totaling approximately 2.079 million vehicles. Ford rival GM posted a 4% jump in 2024 sales, resulting in 2.7 million vehicles sold.
Ford shares were up around 1% in midday trade.
F-Series trucks again shouldered the load for Ford, achieving the status of the No. 1 selling truck in America for the 48th straight year.
“The Ford F-Series best illustrates the company’s Freedom of Choice strategy with gas, diesel, hybrid and electric models. All of these F-Series versions saw year-over-year sales growth in the final month of 2024,” the company said in a statement.
Ford’s “electrified” segment — or vehicles using both hybrid and fully electric powertrains — jumped 38% in 2024, hitting 285,291 units sold.
Ford hybrid sales were the majority of that total, hitting a record 187,426 — up 40% over 2023. Maverick hybrid pickup sales made up nearly one-third of that amount.
Ford said each of its EVs set new sales records last year, with Mustang Mach-E totaling 51,745 units sold (up 27%), F-150 Lightning sales hitting 33,510 (up 39%), and E-Transit sales climbing to 12,610 (up 64%).
Mustang Mach-E Q4 sales hit a best-ever 16,119 vehicles sold, which Ford said made it the second-best-selling electric SUV behind only Tesla’s Model Y.
The success of Ford EVs comes as the company continues to lose money in its EV division, having pushed back the opening of some EV factories and canceled upcoming EVs like a full-size three-row SUV.
On the Lincoln side, the luxury brand saw Q4 sales jump 35%, with 2024 sales climbing 28.1%. The Aviator (up 62.3% for the year) and much-hyped Nautilus (up 50.2%) powered the gains.
Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram.
Read the latest financial and business news from Yahoo Finance