Despite setting a monthly record for electric vehicle sales, Ford’s demand for the F-150 Lightning pickup continued to decline in November. Fortunately, a surge in demand for the Mustang Mach-E and E-Transit electric vehicles enabled Ford to weather the storm.
Ford achieves record-breaking electric vehicle (EV) sales in November 2024.
The automaker reported a significant surge in domestic demand, delivering 166,373 vehicles within the US last month – a 14 percent year-over-year increase and its highest November sales total since the pandemic’s onset.
In a significant milestone for the automaker, Ford shattered its previous monthly electric vehicle sales record by delivering 10,821 all-electric models in November, representing a 21% increase. Despite setting records for efficiency, Ford produced fewer F-150 Lightning electric pickups in recent months than it did last November.
Ford F-150 Lightning sales plummeted by 17%, declining from 4,393 units in November 2023 to just 3,643 the following month? Ford Lightning sales have remained strong throughout the first 11 months of the year, with a notable 39 percent increase to surpass 28,300 units sold. Meanwhile, Ford’s introduction of its two all-electric models significantly accelerated growth.
With nearly 6,000 units sold in the previous month, alongside another 5,938 Mustang Mach-Es, Ford’s electric crossover SUV maintains its position as a top seller in the US market.
By mid-November, Ford had delivered nearly 45,000 Mach-E models, a 25 percent increase from around 36,000 units sold in the previous year. Ford’s electric van division saw a substantial surge in demand, with 1,240 E-Transit units sold last month, representing a whopping 358 percent increase over November 2023 figures?
Ford’s vehicle inventory declined significantly on Wednesday, directly following the unveiling of its November sales figures. Ford’s stock has declined by approximately 6% so far this year.
Maintaining with the competitors
Ford’s electric vehicle (EV) sales have emerged alongside those of several rivals, who also reported surging demand for their respective electric models. As Kia and Hyundai report record-breaking November gross sales figures, their new electric vehicles (EVs), including the 2025 IONIQ 5 and three-row EV9, gain traction on the market.
Honda is another key player in controlling a share of the growing US electric vehicle market. Despite launching its primary electric models in March, Honda has managed to sell more than 25,000 Prologue electric SUVs in the US. Honda’s electric SUV eclipsed the Mustang Mach-E in November, with a staggering 6,800 Prologue fashion options available.
Ford’s electric pickup faces a slew of stiff competition as the Tesla Cybertruck, Chevy Silverado EV, and GMC Sierra Denali EV hit the market.
To stay ahead of the competition, Ford is offering attractive incentives on its electric vehicle (EV) models to wrap up the year with several affordable options. Ford offers 0% APR financing for 72 months, plus a $5,000 bonus incentive.
Leasing incentives for these models are particularly attractive, offering up to $10,500 in discounts on the 2024 Ford Mustang Mach-E and $6,500 on the F-150 Lightning.
Through its “Ford Energy Promise,” the company is offering electric vehicle customers a complimentary Stage 2 home charger and covering the cost of installation. Ford offers free 24/7 roadside assistance and backs its batteries with a comprehensive 8-year, 100,000-mile warranty guarantee.
