Though Ford set a brand new month-to-month EV gross sales file in November, demand for the electrical F-150 Lightning pickup continued falling. Fortunately, increased Mustang Mach-E and E-Transit gross sales carried the load.
Ford EV gross sales attain new file in November 2024
The automaker bought 166,373 automobiles within the US final month, up 14% 12 months over 12 months and its greatest November gross sales month because the pandemic.
Ford set a brand new month-to-month EV gross sales file with 10,821 all-electric fashions bought in November, up 21%. Regardless of the record-setting efficiency, Ford bought fewer F-150 Lightning electrical pickups than final November.
F-150 Lightning gross sales fell 17% from 4,393 in November 2023 to three,643 final month. By way of the primary 11 months of the 12 months, Ford Lightning gross sales are nonetheless up 39% at over 28,300. In the meantime, Ford’s different two all-electric fashions boosted the expansion.
With one other 5,938 Mustang Mach-Es bought final month, Ford’s electrical crossover SUV stays a high vendor within the US.
By way of November, Ford has bought practically 45,000 Mach-E fashions, 25% greater than the roughly 36,000 handed over final 12 months. Ford’s electrical van noticed considerably increased gross sales, with 1,240 E-Transit vans bought final month, up 358% from November 2023.
Regardless of the expansion, Ford’s inventory was down on Wednesday following its November gross sales launch. Shares of Ford Motor (NYSE: F) are down 6% in 2024.
Maintaining with the competitors
Ford’s file EV gross sales come as a number of rivals additionally reported increased demand for electrical fashions. Kia and Hyundai each set new November gross sales information as new EVs, just like the 2025 IONIQ 5 and three-row EV9, achieve momentum.
Honda is one other model to control within the US electrical car market. Regardless of delivering the primary fashions in March, Honda has bought over 25,000 Prologue electrical SUVs within the US. With over 6,800 Prologue fashions bought in November, Honda’s electrical SUV even outpaced the Mustang Mach-E.
Ford’s electrical pickup can also be dealing with stiff competitors from the Tesla Cybertruck, Chevy Silverado EV, and GMC Sierra Denali EV hitting the market.
To maintain up with the competitors, Ford is providing vital incentives on its EV fashions to shut out the 12 months with a number of low cost applications. Ford is providing 0% curiosity for 72 months and $5,000 in Bonus Money.
Lease bonuses are even higher, with as much as $10,500 off the 2024 Mustang Mach-E and $6,500 off the F-150 Lightning.
By way of its “Ford Energy Promise,” the corporate can also be giving EV consumers a free Degree 2 residence charger and protecting the price of set up. Ford can also be offering free 24/7 stay help and an 8-year/ 100,000-mile battery guarantee.
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