Demand for hybrid vehicles in general has steadily risen for some time now, but experienced a large spike after gas prices surged several months ago. Ford has been reaping the benefits of that trend, thanks to its popular hybrid lineup, with its own sales increasing month after month as well. That upward trajectory continued in the month of August, as Ford hybrid sales climbed even higher, helping The Blue Oval gain segment share in this highly competitive space, according to the automaker’s latest sales report.
Ford hybrid sales reached a new record for the month of August as the automaker moved 7,302 electrified units – a nine percent increase over the same period one year ago. That helped FoMoCo achieve a 13 percent share of the hybrid market overall, which is 3.3 percentage points higher than last year. Year-to-date, Ford is second only to Toyota in terms of hybrid sales, too.
The Ford Maverick, which launched in 2021 for the 2022 model year, has played a big role in driving the company’s hybrid vehicle sales higher, as it has remained on Kelley Blue Book’s list of the top considered electrified vehicles for multiple quarters in a row at this point. In spite of numerous production challenges, the Maverick is also one of the fastest-selling vehicles on the market to boot.
A recent study found that hybrid demand is growing at a rapid rate even in rural areas of the U.S. – in fact, it’s increasing in those parts of the country even faster than densely-populated coastal cities. Add all of this data up, and it’s no surprise that Ford CEO Jim Farley recently revealed that the automaker plans to continue building and selling hybrids for the foreseeable future, even as it invests billions into all-electric vehicles.