When it comes down to profits for Detroit automakers, full-size pickup trucks are the key to mountains of cash. Analysts estimate that full-size pickups bring in the majority of Ford's (NYSE:F) and General Motors’ profits, so anything that helps sell pickups is huge. Here's good news for Ford investors: Its fuel-efficient EcoBoost engine seems to be doing just that.
Ford’s F-150 EcoBoost sales have reached 400,000 in the U.S. since its launch in February 2011, the company announced this week, and it continues to help F-Series sales surge, which are up 20% year to date. If F-Series sales top 50,000 in any given month, Ford considers it a solid month -- and sales have topped 60,000 for the last six consecutive months.
“Ford is delivering great fuel economy across our lineup, from EcoBoost in our F-150 and 15 other vehicles to our electrified vehicles,” said Doug Scott, Ford truck group marketing manager, in a press release. “Fuel economy is the No. 1 unmet need for truck customers, which is why the F-150 EcoBoost’s leading combination of fuel economy and capability is resonating so well.”
The F-150 and EcoBoost is resonating well with consumers, indeed. According to Ford, the F-Series is outselling its nearest competitor in the western U.S. market by 67%, where Ford says "housing and technology industries are driving truck sales"; the EcoBoost has proved a popular option, and has a take rate of 45%. Ford says that in the U.S. northwest, "F-150 customers choose EcoBoost 45% of the time compared to the national average of 38%."
Ford recently marked production of its 2 millionth EcoBoost engine. It was launched in 2009. Factory output averages more than 100,000 engines per month, up from 65,000 units in 2012, according to Ford.
Fool contributor Daniel Miller owns shares of Ford and General Motors. The Motley Fool recommends Ford and General Motors. The Motley Fool owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.