Ford Motor Company sure got a sale boost for their Expedition SUV. In the month of August alone, they notched 8,724 sales! That’s a remarkable increase of 53.7% over August of last year. It’s the best sales month for the Expedition in 21 years! Buyers are rushing to purchase heavier vehicles. The attractiveness of the roomy, family-friendly layout that three-row SUVs offer has captured the imagination of American consumers.
For reference, the redesigned Ford Expedition was first shown in October. Ever since though, it’s been wildly successful, having just started shipping about five months ago. Through the first nine months of 2023, Ford has sold 61,022 Expeditions, a 13.1% year-over-year increase compared to 2022. Meanwhile, the hottest Expedition variants—the souped-up Platinum and sporty Timberline—easily exceed $80,000. They appeal to consumers that desire a premium and well-equipped vehicle.
Ford’s total sales in August enjoyed an increase as well, up by 3.9% over August of last year. The automotive industry is going through a tremendous transition from internal combustion engines to electric vehicles (EVs). While this funneling was going on, Ford’s EV sales jumped up 19.3%. Despite these realities, buyers are itching to get their hands on EVs. They are trying to beat the clock on a federal tax credit that is set to expire at the end of the month.
Mark Levine, Ford’s director of North America product communications, highlighted the company’s strategy following the cancellation of plans for a three-row electric SUV last year. Ford subsequently made it a point to invest in creating hybrid versions while still selling traditional internal combustion engines on its Ford Expedition line.
Even with the increasing competitive landscape in the EV space, Ford CEO Jim Farley praised how the company is still playing with a “strategic advantage.”
“We are out of sync, in a good way, with our competitors who are now fully loaded with all their EVs, and they’ll have to commit to them.” – Jim Farley, Ford CEO.
Turns out this strategy is working really well! As families pursue models with bigger space, like the Ford Expedition, they’re catching up with the automotive tech-adapting world around them. The company continues to focus efforts on hybrids and non-EV models. This strategy provides consumers with a more equitable choice since they might not be prepared to completely transition to EVs just yet.