Ford Q1 2025 Sales Soar: Best Pickup Start in Over 20 Years, Electrified Vehicle Sales Reach Record High

Ford Motor Company kicked off 2025 with a strong performance, recording its best first-quarter pickup truck sales in more than two decades and setting a new record for electrified vehicle sales. U.S. retail sales rose 5% in Q1, fueled by a 19% surge in March.

F-Series and Pickups Lead the Charge
The F-Series, America’s best-selling truck, saw sales grow 24% in Q1, including a 38% spike in March alone. Total Ford pickup sales—including the F-Series, Ranger, and Maverick—reached 243,317 units. The Maverick hit an all-time monthly sales record in March with 19,008 units sold.

Electrified Vehicles Hit New Highs
Ford sold a record 73,623 electrified vehicles in Q1, up 26% from last year, with hybrids and EVs up 33% and 12%, respectively. Mustang Mach-E sales set a Q1 record at 11,607 units, while E-Transit sales rose 30%. The hybrid Maverick became the top-selling hybrid pickup in the U.S. with 21,414 units sold. Electrified vehicles made up 15% of Ford's total Q1 sales.

Off-Road Vehicles Gain Ground
Sales of off-road performance models jumped 20% to 105,222 vehicles. Bronco sales surged 35% to 32,595 units, and the Bronco family (including Bronco Sport) totaled 65,958 vehicles—up 19% year-over-year. Bronco also outsold Jeep Wrangler in December 2024 and January 2025, based on latest registration data.

Ford Pro, BlueCruise, and Remote Services Expand
Ford Pro Intelligence software subscriptions grew 20% year-over-year, reaching approximately 674,000. The company’s BlueCruise hands-free driving tech continues to gain traction, with an estimated 5 million cumulative hands-free highway hours. Meanwhile, Ford and Lincoln dealers conducted over 879,000 remote services in Q1, including more than 500,000 Mobile Service visits.

Despite a 1% overall sales dip driven by reduced fleet deliveries and discontinued models, Ford’s strong retail momentum, robust pickup and EV sales, and growing service platforms underscore its continued transformation under the Ford+ strategy.

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Ford Motor Company reported its fourth-quarter and full-year 2024 financial results. Fourth-quarter revenue was $48.2 billion, with a net income of $1.8 billion and an adjusted EBIT of $2.1 billion. Full-year revenue was $185 billion, with a net income of $5.9 billion, an adjusted EBIT of $10.2 billion, and an adjusted free cash flow of $6.7 billion. The company announced regular and supplemental dividends of 15 cents per share, payable on March 3. The outlook for 2025 includes an adjusted EBIT between $7.0 billion and $8.5 billion, free cash flow between $3.5 billion and $4.5 billion, and capital spending between $8 billion and $9 billion. Ford's leadership stated that the company will continue its Ford+ transformation, focusing on quality, cost management, and long-term financial performance.

Ford Motor Company announced a pre-tax remeasurement gain of approximately $0.7 billion related to its pension and other postretirement employee benefits (OPEB) plans for the fourth quarter of 2024. The gain includes:

- A $0.3 billion loss for U.S. pension plans.
- A $0.9 billion gain for pension plans outside the U.S.
- A $0.1 billion gain for global OPEB plans.

The remeasurement gain, driven by higher discount rates compared to year-end 2023 but partially offset by lower-than-expected asset returns, will increase Ford's net income by $0.4 billion after taxes. Since this is classified as a special item, it will not impact the company's adjusted EBIT or adjusted earnings per share.

Ford stated that this remeasurement had no cash impact in 2024 and does not alter expectations for 2025 pension contributions. At year-end 2024, the underfunded status for its pension plans is expected to be around $0.5 billion, down from $2.3 billion at year-end 2023, while OPEB plans are projected to have an underfunded status of $4.4 billion, compared to $4.7 billion the previous year. Ford emphasized that its funded plans remain fully funded.

Cox Automotive reports that electric vehicle (EV) sales in the U.S. reached a record 1.3 million units in 2024, a 7.3% increase compared to 2023. The fourth quarter alone saw a 15.2% year-over-year rise in sales, highlighting strong demand driven by automaker incentives, competitive lease deals, and government programs. Despite Tesla's dominance in the EV market with the Model Y and Model 3 accounting for over 40% of total EV sales, the company experienced a year-over-year decline of over 37,000 units. In contrast, brands like General Motors and Honda significantly increased their sales, contributing to the market's growth.

The hypercompetitive U.S. EV market introduced 17 new models in 2024, with vehicles like the Ford Mustang Mach-E and Hyundai Ioniq 5 gaining traction alongside Tesla's lineup. The introduction of the Tesla Cybertruck also marked a notable milestone. Cox Automotive forecasts further growth in 2025, expecting EVs to comprise nearly 10% of total vehicle sales, driven by the launch of more than 15 new products, improved charging infrastructure, and sustained incentives. Although potential policy changes in Washington could slow this momentum, the market's expansion is expected to continue as buyers move quickly to take advantage of current benefits. (Source: Cox Automotive)