Ford’s U.S. second-quarter sales jump 9.9%, spurred by ICE truck sales. ICE still the profit center for Ford.

[intimidator]

Ford’s U.S. second-quarter sales jump 9.9%, spurred by significant sales gains for its ICE F-Series trucks

Sales of Ford’s F-Series trucks jumped 34% during the second quarter compared with the prior year.

Ford’s overall truck sales, a key driver of the company’s profits, were up 23% in the first half of the year from the same period in 2022. All-new Super Duty trucks and higher production of other models helped drive the gain, the company said.

“Ford achieved both best-selling brand and truck for six consecutive months this year on the strength of F-Series, vans, our new Escape, and F-150 Lightning,” said Andrew Frick, Ford vice president of sales, distribution and trucks, in a statement.

However, Ford’s EV sales during the quarter declined 2.8%, to 14,843 vehicles, as supplies of the Mach-E were short amid an overhaul of the factory that makes the EV. Ford revamped that plant to increase production of the Mach-E during the quarter, part of a larger plan to significantly boost its electric vehicle production and turn a profit on its EV business by the end of 2026.

Ford’s electric vehicle sales remain small compared to ICE vehicles.
EVs represented only 2.8% of the automaker’s total sales during the second quarter.
While traditional internal combustion engines represented roughly 91% of sales.
Hybrids represented 6.5% of sales.

Looks like Ford still knows how to sell ICE vehicles and people have not stopped buying gas burners, yet.

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[cvalue13]

Looks like Ford still knows how to sell ICE vehicles and people have not stopped buying gas burners, yet.

We are in an echo chamber

Sometimes I think that echo is seemingly amplified by the casual missdirection when people cite *new* car sales stats

Eg, “in the first quarter of 2023, fully-electric vehicles jumped to a new record at 7.2%” in the U.S.

​

But *new* car sales are in their best years only ~25% of total U.S. vehicle purchases (new + used) annually.​

So let’s call that 7.2% of 25% about a net 2% of vehicle purchases annually (adding a fractional bit for used cars that are BEV).

​

But in a given year, only ~1/4th of the of-age population is buying *either* a new or used vehicle.​

Then we’re down to 0.5% of the relevant U.S. population buying a BEV in a given year.

At 40K feet, then, the churn of BEVs into the total vehicle pool is still small.

 

[CyberGus]

Hello?
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Hello?

 

[Deleted member 17810]

Hello?
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Is it me you're looking for

 

[intimidator]

We are in an echo chamber

Sometimes I think that echo is seemingly amplified by the casual missdirection when people cite *new* car sales stats

Eg, “in the first quarter of 2023, fully-electric vehicles jumped to a new record at 7.2%” in the U.S.

​

But *new* car sales are in their best years only ~25% of total U.S. vehicle purchases (new + used) annually.​

So let’s call that 7.2% of 25% about a net 2% of vehicle purchases annually (adding a fractional bit for used cars that are BEV).

​

But in a given year, only ~1/4th of the of-age population is buying *either* a new or used vehicle.​

Then we’re down to 0.5% of the relevant U.S. population buying a BEV in a given year.

At 40K feet, then, the churn of BEVs into the total vehicle pool is still small.

As a Tesla shareholder, owner and EV supporter, I believe in the EV transition.

However, from 40,000 feet, as you say, the transition in the United States is going to be a slow-ish one. If NEW car sales in 2022 were 7% EVs, that means MORE than 90% of new sales were ICE vehicles. Those ICE vehicles will probably be on the road for another 20 years.

Rolling over the inventory of ICE vehicles in the US is going to take a long time. I think I saw an interview with Elon Musk saying it will take at least 30, maybe 40 years.

If in 2030 40% of all new vehicle sales in the US are EVs, that still means about 50% are going to be ICE. And those ICE vehicles sold in 2030 will last until 2050 or so.

The reality is both ICE and EVs will share the highways probably until 2050.

 

[cvalue13]

As a Tesla shareholder, owner and EV supporter, I believe in the EV transition.

also a supporter and proselytizer of the EV transition

Which, to take a dog leg in conversation, is part of why I champ at people who are seemingly overly focused on declaring a 'winner' among BEV producers, more than attempting to forward BEV production generally.

That brand of intra-BEV tribalism seems to me a version of celebrating on the 10-yard line with 90 yards left to run. And they're down-talking competing BEV companies by parroting the exact same talking points used by the general anti-BEV crowd.

but that's just my bone being picked

 

[intimidator]

also a supporter and proselytizer of the EV transition

Which, to take a dog leg in conversation, is part of why I champ at people who are seemingly overly focused on declaring a 'winner' among BEV producers, more than attempting to forward BEV production generally.

That brand of intra-BEV tribalism seems to me a version of celebrating on the 10-yard line with 90 yards left to run. And they're down-talking competing BEV companies by parroting the exact same talking points used by the general anti-BEV crowd.

but that's just my bone being picked

I hear ya. As both a Tesla owner, and a Ford Lightning owner, I encourage others to look at all EVs and consider what they like best.

Tesla's sofware, and charging network, truly are superior in many ways to the "competition" but companies like Hyundai are giving it a good go at it. For example an Ioniq 5 can charge from 15% to 80% in about 15 minutes. That is very traveller friendly.

The fit, finish, gaps, paint, etc on the Ford MachE are top notch. And many like or prefer the looks. Choices are good. Otherwise we might become drones...

Go EVing.

 

[cvalue13]

I hear ya. As both a Tesla owner, and a Ford Lightning owner, I encourage others to look at all EVs and consider what they like best.

Sometimes I think the tribalism can only be explained by people having such significant TSLA positions that they really are more interested in company than the underlying EV transition

then again, I've also never understood people who have stickers like these (essentially the same vibes as some around here), so maybe it's just a gene I lack. wouldnt be the first.

 

[Diehard]

Sometimes I think the tribalism can only be explained by people having such significant TSLA positions that they really are more interested in company than the underlying EV transition

then again, I've also never understood people who have stickers like these (essentially the same vibes as some around here), so maybe it's just a gene I lack. wouldnt be the first.

I do think you are in the minority. I do have that gene but I consciously try to suppress it (not always successfully).

A very smart and seasoned school principal in czech republic once told me she tried to motivate the students to act for different causes for years without success. Once she learned that she had to package the same ideas to appear as to be against something, she could get them to do anything. That is why you have "war" against poverty, drugs, ..... it is much easier to sell war than it is to sell peace.

I understand why the seller (Ford, Chevy, ...) often use words like family and loyalty. However, as a consumer that did not build or design any part of my own truck, feeling of pride for simply making a choice is a bit misplaced and makes me vulnerable to be used. The only winners in these wars are the sellers. Consumers with those stickers are the suckers on the front lines of these wars likely to get shot by the next sale of a vehicle that may not be the best choice for them.

I understand people that make a religion out of a company to protect their investment and I understand those that stuck with TSLA through all the short selling and feel a bit of connection beyond the investment. I appreciate people being passionate about almost anything however, I do have a much easier time 'hearing' those with a balanced point of view.

 

[charliemagpie]

Transition will not be linear. The legislation written today has its roots in ICE, the new laws to be written in 5 years will have a new perspective.

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