Ford\u00a0Mustang Mach-E and F-150 Lightning on display at the New York International Auto Show on March 28, 2024.<\/p>\n
Danielle DeVries | CNBC<\/p>\n
DETROIT \u2013 Sales of electric vehicles and large SUVs drove Ford Motor<\/a>‘s third-quarter sales up by 8.2%, the Detroit automaker reported Wednesday.<\/p>\n Ford said<\/a> sales of all-electric vehicles increased by 30.2% during the period to a new quarterly record of more than 30,600 units. Its “electrified” vehicles, including EVs and hybrids, increased 20% compared with the same period a year earlier.<\/p>\n Sales of Ford’s SUVs increased nearly 10% during the quarter, including massive gains for its larger SUVs as well as the Mustang Mach E EV, which was up 51% from a year earlier.<\/p>\n EV sales during the third quarter are expected to be a record, as buyers pulled ahead plans to purchase a new zero-emissions vehicle ahead federal EV incentives of up to $7,500 ending<\/a> in September.<\/p>\n Ford CEO Jim Farley<\/a> on Tuesday said he “wouldn’t be surprised” if sales of EVs fell from an industry market share of around 10% to 12% this month \u2014 which is expected to be a record \u2014 to 5% after the incentive program ends.<\/p>\n Cox Automotive forecasts sales of EVs hit 410,000 during the third quarter, up 21% from a year earlier. That would easily be the highest amount of EVs ever sold in a quarter in the U.S., as well as a\u00a0record 10% market share<\/a>.<\/p>\n