Ford U.S. Sales By Powertrain: Electric, Hybrid, and ICE

Ford truck. Pexels Image.

This article presents Ford Motor Company’s vehicle sales by powertrain type, consisting of electric vehicles (EVs), hybrid vehicles, and internal combustion engine (ICE) vehicles.

Please note that the sales data presented here represents only U.S. sales.

In addition, we look at two types of sales data here: wholesale sales and retail sales.

Let’s dive into the details.

For other sales 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.

Wholesale Sales: 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.

Retail Sales: Vehicle retail sales refer to the number of vehicles sold directly to consumers through retail channels, such as dealerships.

Ford Motor defines its retail vehicle sales as sales primarily by dealers, sales to the government, and leases to Ford management, and is based, in part, on estimated vehicle registrations; includes medium and heavy trucks.

This metric typically includes sales of new and used cars, trucks, and other types of vehicles. Vehicle retail sales provide insight into consumer demand and purchasing behavior in the automotive market.

Understanding vehicle retail sales is crucial for manufacturers, dealerships, and market analysts to assess the health and trends of the automotive market.

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.

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FAQs

To help readers understand the content better, the following FAQs have been provided.

Why are Ford Motor’s ev and hybrid sales not picking up?

Ford Motor Company has been increasing its focus on electric and hybrid vehicles, but there are a few reasons why their sales numbers in these categories might still be modest compared to traditional internal combustion engine (ICE) vehicles:

1. Late Entry: Ford started getting serious about electric vehicles (EVs) only around fiscal year 2020. This means they are still catching up to early entrants like Tesla, which have had a significant head start.

2. Market Competition: The EV market is highly competitive, with many established players and new entrants. Ford faces stiff competition from other automakers who have been in the EV space for longer.




3. Consumer Awareness and Adoption: While interest in EVs and hybrids is growing, consumer adoption is still in the early stages. Many consumers are still transitioning from traditional ICE vehicles to EVs and hybrids.

4. Infrastructure: The availability of charging infrastructure is still a limiting factor for many potential EV buyers. Although this is improving, it can still be a barrier to higher sales.

5. Product Lineup: Ford’s EV and hybrid lineup, while growing, is still relatively limited compared to their extensive range of ICE vehicles. As they expand their offerings, sales in these categories are likely to increase.

6. Technological Advancements and Costs: The development and production of EVs and hybrids involve significant investment in new technologies and manufacturing processes. This can affect pricing and profitability, making it challenging for automakers like Ford Motor to scale up quickly.

Despite these challenges, Ford is making significant progress with models like the Mustang Mach-E and the F-150 Lightning, which are gaining traction in the market. As the company continues to innovate and expand its offerings, their presence in the electric and hybrid vehicle market is expected to grow.

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Insight & Summary of Ford’s U.S. Vehicle Sales By Powertrain

The following analysis consolidates the trends observed across Ford Motor’s vehicle sales in the U.S. by powertrain for the FY2022–FY2025 period.

• Hybrids: The Unambiguous Success Story Hybrid vehicles are the standout performer across both retail and wholesale channels in this dataset. Retail hybrid sales grew from 106,705 (FY2022) to 228,072 (FY2025) — a 113.7% increase in three years — with consistent double-digit growth in each period: +25.3% (FY2023), +40.1% (FY2024), and +21.7% (FY2025). The FY2023–FY2025 retail average of 183,080 units at 29.0% average annual growth is the strongest growth profile of any powertrain segment in the dataset.

  Wholesale hybrid volumes similarly expanded from 101,662 to 216,599 — also roughly doubling — though the FY2025 wholesale growth nearly stalled at +0.4% despite +21.7% retail growth in the same period. This wholesale-retail divergence in FY2025 is analytically significant: it implies dealers drew down hybrid inventory to serve strong retail demand, which suggests the manufacturing/wholesale supply pipeline may have temporarily lagged consumer demand rather than led it.

  The hybrid story at Ford is structurally driven by the F-150 PowerBoost hybrid truck and the Escape Hybrid and Maverick Hybrid — models that offer meaningful fuel efficiency improvement at modest incremental cost without the range anxiety or charging infrastructure requirements of full EVs.

  In a market where truck and SUV buyers represent 97%+ of Ford’s US sales and where long-distance utility is a core purchase criterion, the hybrid powertrain has proven to be the practical, commercially successful bridge between ICE and full electrification. Hybrid mix expanded from 5.7% retail (FY2022) to 10.3% (FY2025) and from 5.1% wholesale (FY2022) to 10.3% (FY2025) — a consistent doubling of segment share in three years that shows no signs of plateauing.

• Electric Vehicles: Volatile Demand, Strategic Recalibration Ford’s EV performance is the most complex and analytically contested element of the dataset. Retail EV volumes grew from 61,575 (FY2022) to a peak of 97,865 (FY2024) before declining to 84,113 (FY2025), a -14.1% year-over-year contraction. The FY2023–FY2025 retail average growth of 12.9% is positive in aggregate but masks the inflection at the FY2024–FY2025 boundary — the first EV volume decline in the dataset period.

  The wholesale channel tells a more volatile story: 71,418 (FY2022), surging to 99,928 (FY2023, +39.9%), collapsing to 68,990 (FY2024, -31.0%), and recovering to 82,530 (FY2025, +19.6%). The FY2024 wholesale-retail inversion — 68,990 wholesale deliveries versus 97,865 retail sales — means Ford’s dealer network was selling EV inventory that had been accumulated from prior wholesale deliveries, rather than taking fresh production.

  This is consistent with Ford’s acknowledged decision to reduce Model e segment production volumes in FY2024 following elevated inventory levels and narrowing EV margins. By FY2025, wholesale (82,530) and retail (84,113) EV volumes are broadly in equilibrium, suggesting inventory normalisation has been largely completed.

  The EV mix trajectory — 3.3% retail (FY2022) to 4.7% (FY2024) to 3.8% (FY2025) — confirms that EVs have not yet established a durable upward share trend at Ford. The FY2025 retail mix of 3.8% is actually below the FY2024 peak, reflecting both absolute volume decline and total mix growth from the hybrid and ICE segments. Ford’s EV ambition has been explicitly moderated: the company has shifted away from its original “50% EV by 2030” aspiration toward a more pragmatic, profitability-prioritised stance that the data here quantifies.

• Internal Combustion Engines: Dominant, Stable, and Slowly Declining in Mix ICE vehicles remain the overwhelming majority of Ford’s US sales at 85.8% retail mix (FY2025), down from 91.0% in FY2022. The absolute retail ICE volume has held broadly stable — 1,696,184 (FY2022), 1,789,561 (FY2023), 1,793,541 (FY2024), 1,891,939 (FY2025) — with a FY2023–FY2025 average of 1,825,014 units and 3.7% average annual growth. The wholesale ICE picture is slightly different: wholesale declined in FY2025 to 1,805,372 (-5.7%) against a retail increase of +5.5%, suggesting dealers were reducing new ICE inventory positions while simultaneously selling existing stock.

  The apparent contradiction — retail ICE growing (+5.5% in FY2025) while wholesale ICE contracts (-5.7%) — reflects the normalisation of ICE inventory after the post-chip-shortage restocking cycle that elevated dealer lot volumes in FY2023–FY2024. The structural trajectory for ICE mix is clearly downward as hybrids expand, but the absolute ICE volume stabilisation at 1.7–1.9 million annual units indicates that consumer demand for traditional powertrains remains robust over any near-term horizon. Ford’s truck and large SUV portfolio — where ICE and hybrid powertrains coexist — is the primary sustaining factor.

• Wholesale vs. Retail: The Inventory Signal The comparison between wholesale and retail volumes across all three powertrain types provides a real-time inventory signal that is analytically valuable. In FY2024, EV retail (97,865) significantly exceeded wholesale (68,990), confirming dealer inventory drawdown. In FY2025, hybrid retail (228,072) exceeded wholesale (216,599), suggesting the market is absorbing hybrids faster than Ford is producing them — a supply-constrained demand signal rather than a demand problem. ICE shows the opposite in FY2025: retail (+5.5%) above wholesale (-5.7%) — dealers moving ICE stock faster than they are receiving it, consistent with a deliberate inventory reduction strategy.

• Structural Takeaway: Ford’s powertrain transition is following an unexpected but commercially logical path: hybrids, not EVs, are the dominant force driving Ford’s electrified vehicle growth. The hybrid’s practical advantages — no range anxiety, no charging infrastructure dependence, improved fuel economy in truck-format vehicles — have produced 113.7% retail volume growth in three years while Ford’s EV business peaked and declined. This outcome is not unique to Ford; it reflects a broader industry pattern in which hybrid adoption has accelerated while pure EV growth has moderated as the early-adopter demand pool saturates and the mass market proves more price and convenience-sensitive than originally projected.

  For investors, the critical implication is that Ford’s electrification story is increasingly a hybrid story in the medium term, and the financial performance of that hybrid business — in terms of margin per unit, incremental revenue premium over equivalent ICE variants, and capacity utilisation at Ford’s hybrid powertrain facilities — is more analytically important than the EV unit count.

  The EV volume trajectory (-14.1% retail in FY2025) requires monitoring: if it reflects permanent demand softening in Ford’s EV product mix rather than a transitory recalibration, the strategic rationale for Ford’s continued investment in the Model e division — which has been loss-making — will be increasingly scrutinised. The FY2025 wholesale-retail EV equilibration and recovery to 82,530–84,113 units provides a tentative floor signal, but a sustained recovery above 100,000 annual EV retail units would be the data point that restores confidence in Ford’s EV growth trajectory.

The table below combines all key Ford’s U.S. vehicle sales by powertrain metrics into a single view for the latest three fiscal years.

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Wholesale Sales of EV, Hybrid, and ICE Vehicles

How Ford measures its vehicle wholesale is available here: Ford wholesale. Ford’s wholesale numbers include sales from unconsolidated affiliates. Refer to this section for the definition of unconsolidated affiliates: unconsolidated affiliates.

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Wholesale Mix of EV, Hybrid, and ICE Vehicles

How Ford measures its vehicle wholesale is available here: Ford wholesale. Ford’s wholesale numbers include sales from unconsolidated affiliates. Refer to this section for the definition of unconsolidated affiliates: unconsolidated affiliates.

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Wholesale Growth of EV, Hybrid, and ICE Vehicles

How Ford measures its vehicle wholesale is available here: Ford wholesale. Ford’s wholesale numbers include sales from unconsolidated affiliates. Refer to this section for the definition of unconsolidated affiliates: unconsolidated affiliates.

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Retail Sales of EV, Hybrid, and ICE Vehicles

How Ford measures its vehicle retail sales is available here: Ford retail sales.

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Retail Mix of EV, Hybrid, and ICE Vehicles

How Ford measures its vehicle retail sales is available here: Ford retail sales.

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Retail Growth of EV, Hybrid, and ICE Vehicles

How Ford measures its vehicle retail sales is available here: Ford retail sales.

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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 investor 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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