10:18 AM EDT, 04/03/2024 (MT Newswires) -- (Updates with additional info in the second to fifth paragraphs and stock movement in the last paragraph.)

Ford Motor ( F ) said Wednesday that Ford and Lincoln sales climbed 7% in Q1.

The company also said it recorded its "best-ever" quarterly hybrid sales figures in more than two decades, with overall hybrid sales up 42% to 38,421 and Ford Maverick attracting new customers to the brand. Sales of its Ford Maverick hybrid truck were up 77% year over year to 19,660 and almost 60% of the buyers are new to the brand, according to the company.

Ford said it expects hybrid sales to grow further as it ships the new F-150 hybrid to dealers.

"The new F-150 will be a big play for us across gas, hybrid and electric vehicle segments of our business," Ford Blue President Andrew Frick said.

Ford said its electric vehicle sales jumped 86% to 20,223 in Q1, with Mustang Mach-E posting a 77% year over year increase to 9,589 while F-150 Lightning sales climbed 80% to 7,743 trucks and Ford E-Transit soared 148% to 2,891 vans from a year earlier.

Ford shares were up 0.7% in recent Wednesday trading.

Price: 13.38, Change: +0.10, Percent Change: +0.72