Ford Motor Co.'s U.S. sales rose 26 percent in March, while creeping up 0.6 percent in the first quarter as the company bounces back from the pandemic that stung the industry a year earlier and continues to have lingering effects on the economy. Higher light-truck volume offset weaker car sales, the company reported.
Ford said first-quarter retail sales jumped 23 percent and topped the company's 2020 and 2019 first-quarter results. Retail truck and SUV deliveries rose 87,883 above first-quarter 2020 volume, more than offsetting the loss of 13,688 retail sales from discontinued car lines, the company said.
The new Ford Bronco Sport and Mustang Mach-E provided reinforcements to help push Ford's first-quarter volume up.
Brands: Ford up 0.7%; Lincoln down 0.6%.
Notable nameplates: First quarter: F-series, up 9.2%; Mustang, down 4.4%; Escape, off 15%; Explorer, up 16%; Ranger, up 15%; Aviator, up 7.4%; Navigator, up 26%; Corsair, up 26%
Incentives: $3,144 per vehicle, down 21.9% from a year earlier, TrueCar says
Average transaction price (Q1): $44,261, up 3.1% from a year earlier, according to TrueCar
Quote: "Ford's retail sales exceeded 2020 and 2019 sales levels. Our customers are really embracing our new electrified vehicle lineup," Andrew Frick, vice president of Ford Sales U.S. and Canada, said in a statement. "The all-new fully electric Mustang Mach-E and the F-150 PowerBoost Hybrid lifted Ford's overall electrified vehicle sales to a record start in the first quarter with sales up 74 percent over a year ago. Our all-new Bronco Sport posted record monthly sales in March and helped power Ford brand SUVs to their best start in 20 years."
Did you know? Nearly 70 percent of early Mach-E buyers are coming from competitive brands.