Ford Motor Company: vehicle sales in the United States by segment Q4 2020-Q4 2023

The number of Ford-built vehicles sold to customers throughout the United States increased from roughly 479,700 to around 484,500 units between the fourth quarter of 2022 and that same period in 2023. The growth was driven by a rise in both Ford and Lincoln sales. Ford introduced a program allowing car customers to defer payments amid the coronavirus outbreak in the U.S., where motor vehicle sales were relatively stable as of May 2023.

Product launches in 2020

In an effort to reduce costs and boost profitability, Ford is in the midst of an overhaul process. Restructuring its activities means a cut in some partnerships and the closure of some plants, including halting the manufacture of vehicles in India for direct sale in the country. Ford's workforce had already decreased to 177,000 employees in 2023. 2023 saw crucial product development, including the launch of the 2023 Ford Mustang.

New direction ahead

Looking to remain a competitive player in the industry, Ford committed almost 23.6 billion U.S. dollars to research and development in between 2021 and 2023. The company has been viewing AI as a new, lucrative direction for the company to develop partially autonomous vehicles. As such, Ford has announced plans to invest over four billion U.S. dollars in AI technology development, establishing Latitude AI in March 2023.