DETROIT – Ford Motor’s U.S. gross sales jumped 10.5% final month in contrast with February 2023, led by will increase in its hybrid and all-electric automobiles gross sales.

The Detroit automaker Monday reported gross sales of 174,192 automobiles and vans for February. The outcomes included an 81% soar in EV gross sales and roughly 32% uptick in hybrid fashions. Gross sales of conventional inside combustion engines additionally elevated, up 7.5% from the identical month a yr earlier.

The spike in hybrid gross sales is a part of Ford’s plan to double down on the expertise. The corporate mentioned hybrid gross sales totaled 12,045 in February, together with 6,463 items of its small Maverick Hybrid pickup.

Gross sales of EVs for Ford have fluctuated month to month based mostly on demand and pricing. Gross sales of Ford’s all-electric automobiles final month had been up throughout the board, together with a 64.3% improve in its Mustang Mach-E crossover and an almost doubling in gross sales of the all-electric F-150 Lightning pickup.

Regardless of the will increase in hybrids and EVs, 89.5% of Ford’s gross sales final month had been conventional automobiles and vans in February.

Gross sales of Ford’s extremely worthwhile F-Collection pickups fell by 5.8% final month to 51,829 items. Shipments of recent 2024 fashions of the pickup had been delayed because of an undisclosed high quality difficulty, Automotive Information reported final month.

Amid high quality and guarantee points, Ford CEO Jim Farley has instituted extra stringent testing and high quality checks throughout new automobile launches.

Ford reported complete year-to-date gross sales via February had been 311,325 items, a 6.6% improve in contrast with the identical time interval a yr earlier.

Shares of Ford had been up greater than 4% throughout buying and selling Monday morning. Rivals Common Motors and Stellantis, neither of which experiences month-to-month gross sales, had been up about 1% every.

Do not miss these tales from CNBC PRO:

• As a substitute of chasing Nvidia, investor buys these misunderstood, low-cost development shares for giant returns
• Why Warren Buffett thinks the ability of compound curiosity is the important thing to his success
• Neglect money — it is time to transfer into mounted earnings, Franklin Templeton strategist says
• Dan Niles reveals why he prefers the ‘Incredible 4’ and when the ‘AI bubble’ would possibly pop
• Buyers ought to tread rigorously in March after bitcoin’s explosive rally to $60,000