Ford Motor Co., CEO Jim Farley presents the thumbs up signal before asserting Ford Motor will associate with Chinese-primarily based, Amperex Technological innovation, to develop an all-electric powered motor vehicle battery plant in Marshall, Michigan, during a press convention in Romulus, Michigan February 13, 2023.

Rebecca Cook | Reuters

DETROIT — Ford Motor’s February product sales elevated by additional than 20% from subdued outcomes a calendar year previously, as the automaker ratchets up generation of its F-Collection pickups and electric powered vehicles.

The Detroit automaker Thursday reported February income of 157,606 autos, up 22% from a yr previously and a 7.7% maximize from January. Ford’s profits were being hampered by provide chain difficulties in February 2022, making for a person of its worst months because 2021.

Revenue of Ford’s F-Sequence pickups jumped 22% previous thirty day period in contrast with a calendar year earlier, expanding to about 55,000 models, which includes 1,336 units of its electric powered F-150 Lightning. So much this 12 months, revenue of F-Series pickups are up 15%.

Ford’s electric powered car sales — a important target of Wall Avenue — proceed to increase, up 88% from a year previously. Nevertheless, EV gross sales still only symbolize 2.9% of the automaker’s gross sales through February.

The automaker marketed 3,600 electric powered F-150 Lightning cars by way of February. On the other hand, revenue ended up off 41% in contrast with January as the automaker halted manufacturing and shipments of the auto final thirty day period because of to a battery fire.

Wall Road analysts estimate U.S. automobile revenue past month have been much better than envisioned, achieving a seasonally modified offering charge of about 15 million units. BofA Securities approximated sales were up by 8.5% past thirty day period in comparison with February 2022.

Ford’s February revenue outpaced other automakers who documented monthly profits. Toyota Motor’s income past thirty day period have been down by 8.5% in contrast with a 12 months previously, while Hyundai-Kia’s product sales improved by 16.2%. Many automakers have moved to quarterly sales reporting rather of every month.

The automotive industry carries on to navigate by some supply chain and production challenges,  despite the fact that the circulation of parts and car or truck manufacturing this yr is predicted to be far more consistent than in the latest yrs.

“We are optimistic relating to our performance this yr,” Hyundai Motor North America CEO Randy Parker advised CNBC on Wednesday. “We do anticipate that interest prices will continue on to climb for the stability of the 12 months, and with any luck , that doesn’t idea us into a economic downturn.”

— CNBC’s Michael Bloom contributed to this report.

By Tara