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What Contributed to Ford's US Sales Decline of 9% Y/Y in Q1?
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Key Takeaways
Ford U.S. sales fell 9% to 457,315 units in Q1 2026, with declines across Ford and Lincoln brands.
EV sales plunged 69.6%, and truck sales dropped 11.3%, driving the overall decline.
Strong spots included Explorer up 29.7% and Bronco lineup posting record 66,218 units sold.
Ford Motor Company’s (F - Free Report) U.S. sales fell 9% year over year to 457,315 units in the first quarter of 2026, with declines recorded across both Ford and Lincoln brands. Truck sales dropped 11.3% year over year to 257,475 units, while SUV sales decreased 7.8% to 185,766 units. In contrast, car sales rose sharply by 50.1% to 14,074 units.
Electric vehicle sales reached 6,860 units, marking a steep decline of 69.6% year over year. Hybrid sales totaled 41,159 units, down 19.4% year over year, while internal combustion vehicle sales stood at 409,296 units, down 4.3%.
Ford maintained its position as America’s No. 1 truck brand, offering the industry’s most diverse powertrain lineup. F-Series sales kicked off the year at 159,901 units, outperforming its closest competitor by 31,000 units. The F-150 Hybrid remained the top-selling full-size hybrid pickup in the United States with 12,904 units sold, while the Maverick Hybrid led overall hybrid pickup sales at 17,050 units in the first quarter. Total Ford truck sales, including pickups and vans, reached 257,475 units, securing its top ranking.
The Ford Explorer, the best-selling three-row SUV in the United States, saw sales increase by 29.7% year over year to 61,387 units in the first quarter of 2026. Combined sales of the Explorer Active and ST-Line trims rose 36.8% year over year, while higher-end Platinum and Tremor variants surged 64.5%. Explorer Tremor also recorded its strongest monthly sales in March since its launch last October.
The Bronco lineup, including Bronco and Bronco Sport, achieved a record start to the year with 66,218 units sold. Bronco Sport posted its best-ever first-quarter sales at 35,021 units, up 5% year over year, while its entry-level variant grew 10.3%. Off-road performance models (Bronco, Raptor, Tremor, FX4) made up 23.5% of Ford’s U.S. sales mix, an increase of 3.1 percentage points compared to the same period last year. Sales of these models rose 5% year over year to 107,349 units, with Expedition and Explorer Tremor showing the highest percentage gains.
Ford Pro Intelligence paid software subscriptions grew approximately 29% year over year in the first quarter. Meanwhile, BlueCruise hands-free driving surpassed 10.1 million total hours by the end of the quarter, with ongoing updates expanding hands-free capabilities to earlier model-year vehicles. F carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q1 Sales of Ford’s Competitors
General Motors Company (GM - Free Report) reported first-quarter sales of 626,429 vehicles in the United States, marking a 9.7% decline compared to the same period last year. Despite the drop, General Motors increased its market share in full-size pickup trucks and retained its position as the industry’s second-largest EV seller. General Motors delivered 25,900 electric vehicles during the quarter, slightly higher than in fourth-quarter 2025. GMC achieved its best-ever first-quarter retail share, driven by strong demand for the Canyon and Terrain, while Cadillac maintained its leadership in the luxury EV segment with a 20% rise in EV sales.
Tesla, Inc. (TSLA - Free Report) began 2026 with its weakest quarterly delivery performance in a year, as reduced U.S. incentives and increasing global competition weighed on its core EV business. Tesla delivered 358,023 vehicles in the first quarter, a 14% decline from the previous quarter. Tesla’s vehicle production exceeded deliveries by 50,363 units, the largest gap in at least four years, indicating a buildup of unsold inventory.
F’s Price Performance, Valuation and Estimates
Ford has outperformed the Zacks Automotive-Domestic industry in the last six months. Its shares have lost 2.7% compared with the industry’s decline of 8.1%.
Image Source: Zacks Investment Research
From a valuation perspective, F appears undervalued. Going by its price/sales ratio, the company is trading at a forward sales multiple of 0.26, lower than the industry’s 3.16.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Ford’s 2026 and 2027 EPS has moved down a penny and moved up a penny, respectively, in the past 60 days.
Image Source: Zacks Investment Research
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What Contributed to Ford's US Sales Decline of 9% Y/Y in Q1?
Key Takeaways
Ford Motor Company’s (F - Free Report) U.S. sales fell 9% year over year to 457,315 units in the first quarter of 2026, with declines recorded across both Ford and Lincoln brands. Truck sales dropped 11.3% year over year to 257,475 units, while SUV sales decreased 7.8% to 185,766 units. In contrast, car sales rose sharply by 50.1% to 14,074 units.
Electric vehicle sales reached 6,860 units, marking a steep decline of 69.6% year over year. Hybrid sales totaled 41,159 units, down 19.4% year over year, while internal combustion vehicle sales stood at 409,296 units, down 4.3%.
Ford maintained its position as America’s No. 1 truck brand, offering the industry’s most diverse powertrain lineup. F-Series sales kicked off the year at 159,901 units, outperforming its closest competitor by 31,000 units. The F-150 Hybrid remained the top-selling full-size hybrid pickup in the United States with 12,904 units sold, while the Maverick Hybrid led overall hybrid pickup sales at 17,050 units in the first quarter. Total Ford truck sales, including pickups and vans, reached 257,475 units, securing its top ranking.
The Ford Explorer, the best-selling three-row SUV in the United States, saw sales increase by 29.7% year over year to 61,387 units in the first quarter of 2026. Combined sales of the Explorer Active and ST-Line trims rose 36.8% year over year, while higher-end Platinum and Tremor variants surged 64.5%. Explorer Tremor also recorded its strongest monthly sales in March since its launch last October.
The Bronco lineup, including Bronco and Bronco Sport, achieved a record start to the year with 66,218 units sold. Bronco Sport posted its best-ever first-quarter sales at 35,021 units, up 5% year over year, while its entry-level variant grew 10.3%. Off-road performance models (Bronco, Raptor, Tremor, FX4) made up 23.5% of Ford’s U.S. sales mix, an increase of 3.1 percentage points compared to the same period last year. Sales of these models rose 5% year over year to 107,349 units, with Expedition and Explorer Tremor showing the highest percentage gains.
Ford Pro Intelligence paid software subscriptions grew approximately 29% year over year in the first quarter. Meanwhile, BlueCruise hands-free driving surpassed 10.1 million total hours by the end of the quarter, with ongoing updates expanding hands-free capabilities to earlier model-year vehicles. F carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q1 Sales of Ford’s Competitors
General Motors Company (GM - Free Report) reported first-quarter sales of 626,429 vehicles in the United States, marking a 9.7% decline compared to the same period last year. Despite the drop, General Motors increased its market share in full-size pickup trucks and retained its position as the industry’s second-largest EV seller. General Motors delivered 25,900 electric vehicles during the quarter, slightly higher than in fourth-quarter 2025. GMC achieved its best-ever first-quarter retail share, driven by strong demand for the Canyon and Terrain, while Cadillac maintained its leadership in the luxury EV segment with a 20% rise in EV sales.
Tesla, Inc. (TSLA - Free Report) began 2026 with its weakest quarterly delivery performance in a year, as reduced U.S. incentives and increasing global competition weighed on its core EV business. Tesla delivered 358,023 vehicles in the first quarter, a 14% decline from the previous quarter. Tesla’s vehicle production exceeded deliveries by 50,363 units, the largest gap in at least four years, indicating a buildup of unsold inventory.
F’s Price Performance, Valuation and Estimates
Ford has outperformed the Zacks Automotive-Domestic industry in the last six months. Its shares have lost 2.7% compared with the industry’s decline of 8.1%.
Image Source: Zacks Investment Research
From a valuation perspective, F appears undervalued. Going by its price/sales ratio, the company is trading at a forward sales multiple of 0.26, lower than the industry’s 3.16.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Ford’s 2026 and 2027 EPS has moved down a penny and moved up a penny, respectively, in the past 60 days.
Image Source: Zacks Investment Research