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- Ford is reaping the benefits of its bet on hybrids.
- The automaker recorded surging hybrid sales in the last quarter, even as demand for EVs slowed.
- Ford slowed its EV push, postponing investment into manufacturing facilities and delaying new models.
Ford's bet on hybrids looks like it's paying off.
The Detroit automaker announced in its earnings on Wednesday that hybrid sales rose 36% in the first quarter of 2024, with CEO Jim Farley telling investors that the company is now the third largest seller of hybrids in the US behind Toyota and Honda.
By comparison, the company's pure EV business has struggled.