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Ford experienced a dramatic decline in its electric vehicle (EV) sales in the United States, dropping 60.8% in November 2024 following the expiration of the $7,500 federal tax credit. The automaker sold 166,373 vehicles overall, a slight decrease of 0.9% from the previous November. Notably, fully electric sales plummeted to 4,247 units from 10,821 units in November 2023, while hybrid sales rose 13.6% to 16,301 units.
Ford’s EV division, Model e, reported a $1.4 billion loss in the third quarter of 2024, contributing to a year-to-date loss of $3.6 billion, with $3 billion tied to current EV models. The company is pivoting to smaller, more profitable EVs, planning to launch a midsize pickup priced around $30,000 by 2027. Current development efforts are at 95% completion, with vehicle testing underway and LFP battery cell production expected to begin by year-end at its Michigan facility.
Tesla saw a 58% decrease in sales in France and a 49% decrease in Denmark in November 2024, while BYD delivered 474,921 vehicles globally, a decline of 5.7% year-over-year, although battery-electric models within that figure rose 19.9% from the previous year.
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