Ford Vehicle Wholesales By Segment: Ford Blue, Pro, and Model-e

Ford Motor Company. Pexels Image.

This page presents Ford Motor Company’s vehicle wholesale by segment. Ford Motor’s operating segments consist of three major divisions: Ford Blue, Ford Model e, and Ford Pro. The explanation of these business segments is available in the definition section.

Keep in mind that Ford’s vehicle wholesale results by segment presented here may differ significantly from retail results. You may find more information about how Ford measures its vehicle wholesale here: vehicle wholesale.

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For other key statistics of Ford Motor, you may find more information on this page: Ford key statistics.

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Definitions

To help readers understand the content better, the following terms and glossaries have been provided.

Vehicle Wholesale: In the context of automobile companies, wholesale refers to the sale of vehicles in bulk quantities to dealerships or other businesses rather than to individual consumers.

Wholesale transactions typically involve the manufacturer or a distributor selling a large number of vehicles to an intermediary, such as a car dealership, which then sells these vehicles to end consumers. This process allows automobile manufacturers to distribute their products efficiently across various markets.

In Ford’s case, Ford defines its wholesale unit volumes as sales of medium and heavy trucks.

In addition, Ford’s wholesale unit volumes also include all Ford and Lincoln badged units (whether produced by Ford or by an unconsolidated affiliate) that are sold to dealerships or others, units manufactured by Ford that are sold to other manufacturers, units distributed by Ford for other manufacturers, local brand units produced by unconsolidated Chinese joint venture Jiangling Motors Corporation, Ltd. (“JMC”) that are sold to dealerships or others, and

Ford badged vehicles produced in Taiwan by Lio Ho Group. Vehicles sold to daily rental car companies that are subject to a guaranteed repurchase option (i.e., rental repurchase), as well as other sales of finished vehicles for which the recognition of revenue is deferred (e.g., consignments), also are included in wholesale unit volumes.

Revenue from certain vehicles in wholesale unit volumes (specifically, Ford badged vehicles produced and distributed by unconsolidated affiliates, as well as JMC brand vehicles) are not included in revenue.

Unconsolidated Affiliates: Unconsolidated affiliates in automobile companies are entities in which the parent company holds a significant but not controlling interest, typically less than 50%.

These affiliates operate independently and their financial statements are not fully integrated into the parent company’s consolidated financial statements. Instead, they are reported as investments on the parent company’s balance sheet.

Key points about unconsolidated affiliates:

1. Ownership: The parent company has a significant stake (usually between 20% and 50%) but does not have full control.

2. Financial Reporting: The parent company uses the equity method to account for its investment, recognizing its share of the affiliate’s profits or losses.

3. Independence: Unconsolidated affiliates maintain their own legal and financial identity, separate from the parent company.

Ford’s sales of vehicles from unconsolidated affiliates totaled about 694,000 units in 2021, 560,000 units in 2022, and 545 units in 2023, according to the 2023 annual report.

Ford Blue: The Ford Blue segment focuses on iconic gas and hybrid vehicles. It aims to drive growth and profitability by leveraging Ford’s strong brand heritage and improving operational efficiencies.

This segment is dedicated to building out Ford’s traditional internal combustion engine (ICE) vehicles while relentlessly attacking costs, simplifying operations, and enhancing quality.

Ford Blue also produces and sells service parts, accessories, and digital services to retail customers. Iconic gas and hybrid vehicles developed under Ford Blue include the F-150, Bronco, and Mustang.

Ford Model e: The Ford Model e segment is dedicated to the development and production of electric vehicles (EVs) and digital capabilities. This segment focuses on innovation and the advancement of electric vehicle technology, aiming to provide cutting-edge EVs that cater to the growing demand for sustainable and eco-friendly transportation.

Apart from EVs, Ford Model e also designs and creates digital vehicle technologies, including embedded software and all of Ford’s electric architecture. Ford Model e operates in North America, Europe, and China.

Ford Pro: Ford Pro is responsible for the sale of Ford and Lincoln ICE, hybrid, and electric vehicles, service parts, accessories, and services to commercial, government, and rental customers.

Ford Pro focuses on fleet sales to customers with large orders, such as those from commercial sectors, government, and rental companies.

Ford Pro’s vehicles sold in North America include the Super Duty and the Transit range of vans. In Europe, Ford Pro’s flagship vehicles include the Ranger. Ford Pro operates primarily in North America and Europe.

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Insight & Summary of Ford’s Vehicle Wholesales By Segment

The following analysis consolidates the trends observed across Ford Motor’s vehicle wholesales by segment for the 2021–2025 period.

• Ford Blue: Mature Consumer Vehicle Base, Decelerating Ford Blue — the core consumer vehicle segment encompassing F-Series trucks, Mustang, and mainstream SUVs — contributed 2,353,000 wholesale units in FY2025, down from its 2,465,000 peak in FY2023. Mix has compressed from 63.5% (FY2021) to 60.0% (FY2025), and the FY2023–FY2025 growth average of 0.1% is effectively flat — consisting of a 4.9% rebound in FY2023 (supply normalisation post-chip shortage) offset by -1.7% (FY2024) and -2.9% (FY2025) contractions.

  The Blue segment reflects the maturation of Ford’s consumer vehicle demand in established markets. The F-Series franchise sustains the absolute volume, but the declining growth trajectory mirrors broader US auto market normalisation following the post-COVID restocking cycle. Blue’s declining mix is not a failure — it reflects the deliberate expansion of Ford Pro — but the FY2024–FY2025 absolute volume contraction warrants monitoring for structural demand signals.

• Ford Pro: The Strategic and Commercial Star Ford Pro — commercial vehicles, including Transit, Ranger, F-Series fleet, and related commercial products — is the standout structural performer in the dataset. Volume grew from 1,126,000 (FY2021) to 1,412,000 (FY2024) before modest moderation to 1,390,000 (FY2025), a 23.4% cumulative increase over the period. Mix expanded from 34.7% (FY2021) to 35.5% (FY2025), and the FY2023–FY2025 average growth of 4.4% is the most consistent positive growth rate of the three core segments.

  Ford Pro is commercially differentiated from the consumer vehicle business: commercial customers are more price-inelastic for work-critical vehicles (Transit vans, F-Series commercial fleet), have higher repeat purchase rates, and generate superior service and software revenue attachment through Ford Pro’s telematics and fleet management platforms. The FY2024 peak of 1,412,000 units demonstrates the segment’s structural momentum even if FY2025 showed a slight pullback. Ford Pro is the primary driver of Ford’s above-average profitability in the North American commercial segment, and its growing share of total wholesale volume is margin-accretive relative to the Blue segment.

• Ford Model e: EV Volatility, Nascent Scale Ford Model e — the pure EV segment — presents the most volatile growth profile in the dataset: +57.4% (FY2022), +20.8% (FY2023), -9.5% (FY2024), +69.5% (FY2025). The FY2025 surge to 178,000 units is the strongest absolute performance in the dataset, yet the segment still represents only 4.5% of total wholesale mix — a commercially small but strategically significant share. The FY2023–FY2025 average growth of 26.9% is impressive in aggregate, but the extreme year-to-year oscillation reflects genuine demand uncertainty, production ramp-up/scale-back cycles, and intensive pricing competition from Tesla and emerging Chinese EV manufacturers.

  The FY2024 production cut (105,000 wholesale units) — aligned with Ford’s explicit decision to reduce loss-making EV output — illustrates that the segment’s financial sustainability remains dependent on improving the per-unit margin profile before volume commitments are expanded. The FY2025 recovery to 178,000 units is a positive data point but insufficient to conclude a durable demand trajectory has been established.

• Unconsolidated Affiliates: The China Drag Sales from unconsolidated affiliates — overwhelmingly representing Ford’s joint venture operations in China (Ford-Changan, Ford-Jiangling) — have declined in every year of the dataset: from 694,000 (FY2021) to 473,000 (FY2025), a -31.8% contraction over four years and a FY2023–FY2025 average growth of -5.4% annually. This decline is the direct quantification of Ford’s China market retreat documented at the country level.

  Unconsolidated affiliate sales no longer appear in Ford’s consolidated financial statements (they are equity-method investments), which means the volume decline has limited P&L impact beyond the equity income line — but the trend confirms the structural deterioration of Ford’s Chinese presence and the ongoing erosion of its joint venture economics. At 473,000 units (FY2025), the China JV contribution is now approximately 10.8% of total wholesale volume including affiliates, down from 17.6% in FY2021.

• Total Wholesale: Core Business Growing, Affiliates Offsetting Total wholesale excluding unconsolidated affiliates grew from 3,248,000 (FY2021) to 3,921,000 (FY2025), a 20.7% four-year increase with a FY2023–FY2025 average growth of 2.3% — modest but positive. Including affiliates, total wholesale grew from 3,942,000 to 4,394,000 over the period, but the FY2025 result of 4,394,000 represents a -1.7% year-over-year decline (the first decline in the dataset), driven by the combination of flat core wholesale and a steeper -10.6% affiliate contraction. The FY2023–FY2025 average of 4,426,000 total wholesale units at 1.3% average growth reflects the dilutive effect of the affiliate decline on what is otherwise a positive underlying core business story.

• Structural Takeaway: Ford’s wholesale volume story is best understood as two parallel narratives: a healthy core business and a deteriorating affiliate portfolio. The core business — Ford Blue, Ford Pro, and Ford Model e — has grown its consolidated wholesale volume from 3.2 million to 3.9 million units over four years, driven primarily by Ford Pro’s consistent commercial demand expansion and a recovering Blue segment.

  The mix shift toward Ford Pro (34.7% → 35.5%) is structurally positive for margins and commercial platform value. The affiliate segment, by contrast, is in persistent decline due to China market dynamics beyond Ford’s direct control, masking the underlying core business performance in total headline wholesale figures.

  The Ford Model e segment remains the primary strategic variable. The FY2025 recovery to 178,000 units demonstrates product demand exists, but the segment’s loss-making economics and volatile production decisions have prevented the kind of consistent ramp trajectory that would signal a durable transition. Ford’s overall wholesale health is therefore more accurately assessed by tracking core consolidated volume (excluding affiliates) and Ford Pro mix expansion — both of which show constructive trends — than by focusing on the total headline figure, which is increasingly distorted by the China affiliate decline.

The table below combines all key Ford’s vehicle wholesale volumes by segment metrics into a single view for the latest three fiscal years.

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Wholesale Volumes from Ford Blue, Ford Model e, and Ford Pro

More information about how Ford measures its vehicle wholesale is available here: vehicle wholesale. Ford’s wholesale presented excludes sales from unconsolidated affiliates. Refer to this section for Ford’s sales data from unconsolidated affiliates: unconsolidated affiliates.

You may find the definition of Ford Blue, Ford Model e, and Ford Pro here: Ford Blue, Ford Model e, and Ford Pro.

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Wholesale Mix from Ford Blue, Ford Model e, and Ford Pro

More information about how Ford measures its vehicle wholesale is available here: vehicle wholesale. Ford’s wholesale presented excludes sales from unconsolidated affiliates. Refer to this section for Ford’s sales data from unconsolidated affiliates: unconsolidated affiliates.

You may find the definition of Ford Blue, Ford Model e, and Ford Pro here: Ford Blue, Ford Model e, and Ford Pro.

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Wholesale Growth from Ford Blue, Ford Model e, and Ford Pro

More information about how Ford measures its vehicle wholesale is available here: vehicle wholesale. Ford’s wholesale presented excludes sales from unconsolidated affiliates. Refer to this section for Ford’s sales data from unconsolidated affiliates: unconsolidated affiliates.

You may find the definition of Ford Blue, Ford Model e, and Ford Pro here: Ford Blue, Ford Model e, and Ford Pro.

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References and Credits

1. All vehicle sales data presented in this article were obtained and referenced from Ford’s annual reports published in the company’s investors relation page: Ford’s Investor Relation.

2. Pexels Images.

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Disclosure

We may use artificial intelligence (AI) tools to assist us in writing some of the text in this article. However, the data is directly obtained from original sources (usually the quarterly and annual reports) and meticulously cross-checked by our editors multiple times to ensure its accuracy and reliability.

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