Ford’s February sales report reveals a significant decline in its electric vehicle (EV) sector, with total EV sales plummeting 71% year-over-year to just 2,122 units. This includes a staggering 76% drop in F-150 Lightning sales to 522 units, and a 55% decrease in Mustang Mach-E sales, which totaled 1,502 units. The company’s overall sales also fell by 5.5%, totaling 149,962 units, while internal combustion engine vehicle sales remained stable at 135,830 units.
In response to decreased EV demand, Ford is re-evaluating its strategy. The automaker has halted plans for a fully electric version of its F-150, opting instead for hybrid models. Factors contributing to the slowdown include high production costs and a lack of government incentives after recent policy changes. Other automakers, including General Motors and Stellantis, are also adjusting their EV forecasts amidst similar challenges.
Ford’s stock has seen a 6% decline in value over the past six months, trading at a forward price-to-sales ratio of 0.29, well below industry averages. Despite current struggles, estimates indicate possible year-over-year earnings growth for 2026 and 2027.
