Ford Hybrid Sales Expected To Significantly Grow In 2024

February 16, 2024 11:27 am

Even though it remains heavily vested in all-electric vehicles, Ford has also made it a point to note that it plans to continue making and selling hybrids for a very long time, as CEO Jim Farley originally stated nearly two years ago. Now only that, but Farley also expects that Ford hybrid sales will continue to grow for the foreseeable future – well into the 2030s, in fact, which is notable given the fact that it certainly seemed like most automakers were keen to transition to EVs not terribly long ago. Regardless, Farley once again repeated the company’s dedication to growing already-strong Ford hybrid sales moving forward during the automaker’s Q4 2023 earnings call with investors Ford 3.5L EcoBoost Engine.

“Our global hybrid sales were up 20 percent last year, and we expect them to be up 40 percent this year,” Farley said. “We’re now the number one and number two best-selling hybrid trucks in the U.S. Maverick is number one and we’re the number three hybrid brand in the U.S. behind Toyota and Honda. But unlike them, our hybrids really sell best on trucks for our side.”

Indeed, the Ford Maverick finished 2023 as the best-selling hybrid pickup in the U.S., with second place going to the Ford F-150 PowerBoost, to boot. The automaker is making the PowerBoost a no-cost upgrade over the standard 3.5L V6 EcoBoost with the refreshed 2024 F-150 as well – another move aimed at driving hybrid sales – while both the forthcoming refreshed Ford Expedition and Lincoln Navigator are expected to add a hybrid option as well.

This dedication to hybrids makes perfect sense for Ford, which recently pushed back a planned $12 billion in EV investments amid waning demand, as those types of vehicles represent something of a middle ground between ICE and pure EVs. Additionally, the automaker recently announced that it was revamping its EV strategy as well, which will now focus on smaller, more affordable models rather than pricier ones – even potentially pushing back electric vehicle launches as well.

We’ll have more on Ford’s hybrid strategy soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.

By Brett Foote

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.