Home / Business and Economy / Ford's EV Sales Plummet, But SUVs and Trucks Surge
Ford's EV Sales Plummet, But SUVs and Trucks Surge
5 Dec
Summary
- Ford's November EV sales dropped 61%, while F-Series pickup sales fell nearly 10%.
- Explorer SUV sales increased by 42%, and Maverick and Ranger pickups rose significantly.
- Industry-wide price fatigue and EV subsidy changes impacted overall new vehicle sales.
Ford Motor Co. experienced a marginal 0.9% decline in U.S. sales for November compared to the previous year, with electric vehicle sales plummeting by 61%. The iconic F-Series pickup line also saw a nearly 10% decrease. Despite these setbacks, key models like the Explorer SUV registered a substantial 42% sales increase, complemented by strong gains in the Maverick and Ranger pickup segments, which rose by 43% and 36% respectively. This mixed performance reflects broader industry trends.
The company's performance is set against a backdrop of industry-wide 'price fatigue,' where consumers resist rising vehicle costs, and reduced government subsidies for electric vehicles. Analysts noted that Ford's overall sales decline still outperformed the estimated 8% industry-wide drop for November. The shortage of aluminum following a fire at a key supplier's plant also impacted production, particularly affecting the F-150 Lightning EV and gasoline F-150 pickups.
