CNBC's Phil LeBeau joins 'Squawk on the Street' with the latest auto sales from Ford.

Ford has reported a 3.9% increase in its U.S. auto sales for August, with electric vehicle (EV) sales rising by 19.3%. The Mustang Mach-E led the EV segment with a 35% increase, while hybrid sales grew by 14.5%, marking Ford's best monthly hybrid sales to date. Internal combustion engine vehicle sales also rose by 2%.

Industry analysts attribute the strong EV sales to consumers acting before the expiration of a federal tax credit at the end of September. While overall auto sales for the year are projected to reach around 16.4 to 16.5 million vehicles, the coming months may see fluctuations as incentives change and market conditions evolve.

August Ford EV sales up 19.3%

Ford is out with its latest figures for U.S. auto sales. Let's get to Phil LeBeau. Good morning, Phil. Good morning, Carl. For the month of August, Ford sales up 3.9%. The breakdown in terms of EVs versus hybrids versus internal combustion, EVs up 19.3%. This is what we're going to see from a number of automakers. Much stronger EV sales than in previous months. By the way, the Mustang Mach-E up 35%. Hybrids up 14.5%. Best monthly hybrid sales ever for Ford. And internal combustion engine vehicles up 2%. Again, Ford up 3.9% for the month of August. Guys, throughout the day, we're going to get a number of automakers reporting August sales. You will see strong numbers, but exceptionally strong numbers when it comes to EV sales, because anybody who was on the fence, they're committing right now. Before the federal tax credit goes away at the end of September, we're seeing that. We saw it in July. We're going to see it in August, and we'll really see it in September. Hey, Phil, I know that, trust you enough to go with Mosaic. Can I, any way I can say that it could be as many as 17 million vehicles this year? I don't think the full year we'll get the 17 million, because we're at about 16.1 million right now, Jim. I think we could probably get up to 16.5. You're going to see strong numbers in August, strong numbers in September. Again, mainly because you have so many people who were on the fence saying, well, I want to get this federal tax credit, so I'm going to go ahead and do this. Then the question becomes, what do you get in October, November, and December? Look, November is decent. December has always been strong over the last 15, 20 years. October is, you never know what you get with October. But I think we're going to probably end closer maybe to 16.4 million, 16.5 million. Yeah, we'll see what the fall brings us and what rates have to do with that and a lot more. Phil, thanks.

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