While it continues to invest billions in developing all-electric vehicles and batteries, Ford isn’t exactly giving up on hybrids, either. In fact, CEO Jim Farley recently said that the automaker plans to continue building and selling hybrids for the foreseeable future, and that he also expects sales from those models to continue to grow by a significant margin as well – even into the next decade. However, looking at some recent sales data released by Ford, it’s easy to see why the automaker is focusing on this particular segment – at least in terms of hybrid trucks, it holds a dominant share of the market.
Through the month of August, Ford hybrid trucks accounted for 77 percent of the overall market in 2023, compared to just 23 percent for second-place Toyota. Currently, The Blue Oval sells two hybrid pickup – the Ford F-150 PowerBoost and Ford Maverick Hybrid, though it’s also worth pointing out that it somewhat lacks in terms of competition at the moment. Toyota has just one hybrid pickup in its lineup at the moment – the Tundra – though it will soon be joined by the 2024 Tacoma and its new i-Force powerplants, while Ram offers only a mild hybrid powertrain in its full-size pickup.
Regardless, Ford previously admitted was a bit taken aback by the success both the F-150 PowerBoost and Maverick Hybrid have enjoyed thus far. That interest also prompted it to make a couple of strategic decisions – making the Maverick’s electrified powertrain an option rather than the standard choice for the 2024 model year, while also making the PowerBoost a no-cost option over the standard 3.5L EcoBoost in the refreshed 2024 F-150 as it works to expand sales further.