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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.
While EV sales faltered, Ford highlighted the strength of its SUV and truck offerings, with the Explorer, Ranger, and Maverick showing robust demand. These gains suggest consumers are still seeking utility in pickup trucks but are increasingly opting for more affordable packages. The company is navigating these challenges as it prepares for crucial December sales figures.
