Ford Motor said on Monday that the company’s sales in the United States increased by 10.5% in February due to a high increase in the sales of hybrid and electric cars (EVs).

Ford’s hybrid car sales are up 36.7% year over year during the month of February, with 12,045 vehicles sold in February, representing a 31.5% rise over the same month last year.

“Hybrid vehicles continue to be a growth segment for Ford and sales have grown at a faster rate than the overall U.S. industry for much of the last year,” Ford said of the news.

Ford’s EV sales are up 25.9% so far this year over the same period last year, while February sales were up 80.8% over the same month last year, with 6,368 EVs sold as opposed to 3,523 last year. The F-150 Lightning pickup, which had sales of 2,578 vehicles in February, a 93% increase over the same month the previous year, was largely responsible for the spike in EVs.

Electric Mustang Mach-E Price Cut by Ford by Up to $8,100

Sales of the Ford Mustang Mach-E electric SUV increased by 64.3% in February over the same month last year, despite a roughly 4.2% year-to-date decline in sales. In February, 2,930 Mustang Mach-E cars were sold, bringing the total for 2024 to 4,409.

Following a steep decline in sales in January, the business reduced the price of the Mach-E by up to $8,100 in February. Additionally, production at the Michigan Rouge Electric Vehicle Center will be reduced to one shift beginning on April 1.

Sales of gas-powered cars at Ford have also been steadily increasing; they were up 5.2% so far this year compared to a year ago and up 7.5% in February. This occurs as Ford, along with other established automakers, has attempted to concentrate more on high-margin gas and hybrid cars, with indications that the market for EVs is beginning to cool.

Ford Stops Shipping the New F-150 Lightning Edition

SUV sales for the Detroit carmaker also showed significant growth, up by 22.3% in February over the same month last year and by 15.2% thus far in 2024.

Sales of the Ford Edge, which were up 80.8% year to far and 105.2% from February of last year, and the Ford Escape, whose sales increased by 68.3% year to date and 105.2% for the month, accounted for a large portion of the SUV segment’s gain.

Sales of Ford trucks increased little in February, rising 1.4% overall and for the first half of the year. Despite the fact that total sales of F-series trucks were down 5.8% in February and 8.6% so far in 2024, the sales volume of 100,531 in 2024 exceeded all other categories.

With sales increases of 73.4% for February and 84.7% year-to-date, the Maverick, a compact truck offered in gas and hybrid models, has experienced the highest growth within the Ford Trucks family, having sold 25,705 units in 2024 thus far. Ford Transit, which may be used as cargo or passenger vans, recorded a 19.6% increase in sales in the month, totaling 13,410 units sold, and a 29.4% increase in sales so far this year.

With 311,325 sold so far this year, sales of Ford brand automobiles have increased 6.6% year over year and up 9% in February compared to the same month last year. With 15,484 vehicles sold so far this year, sales of Lincoln brand automobiles are up 29.4% year over year and up 38% for the month.