It was a mere few years ago that most automakers – Ford included – announced ambitious plans to launch numerous all-electric models in the coming years and invest heavily in that area, which made sense at the time given extreme customer demand for EVs. However, while sales continue to grow, consumer demand for EVs hasn’t quite continued to grow at that rapid pace, and instead, those same shoppers are now gravitating toward hybrids. In fact, Ford hybrids now make up a solid percentage of the automaker’s global sales.
Ford hybrids enjoyed a significant 34 percent sales increase across the globe in Q2 2024, the automaker announced during its earnings call with investors, accounting for nine percent of its overall worldwide sales. That’s also two percentage points higher than Q2 2023, which is an impressive rise in a short period of time – one that also explains the automaker’s renewed focus on hybrids in general.
Back in April, Ford launched its “Freedom of Choice” ad campaign touting its diverse array of powertrain options in North America, and it will do the same in Europe after nixing plans to go all-electric in that region across its passenger vehicle lineup by 2030. The automaker continues to ramp up production of its existing hybrids to meet demand, and also plans on adding an electrified option of some sort to every model in the Ford Blue (ICE) lineup by 2030.
Meanwhile, Ford hybrids are expected to continue their rapid sales growth into the foreseeable future, and as it turns out, multiplying its electrified offerings isn’t expected to cost much, either. In fact, Ford CEO Jim Farley recently stated that this transition will require only “modest investments” on the company’s part, as it already has many of the components needed to execute it on hand and ready to go.
We’ll have more on Ford’s hybrid strategy soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.
Comment
Ford hybrids seem to be unreliable.