Ford’s Record EV and Hybrid Sales in November
Ford has set a new record for EV sales in November, driven by strong demand for its Mustang Mach-E, F-150 Lightning, and E-Transit. The automaker sold 10,821 EVs in November 2024, a 21% year-over-year increase, and nearly 85,000 EVs year-to-date, reinforcing its position as America’s second best-selling EV brand, trailing only Tesla.
Breakdown of Ford’s November EV Sales
How Does Ford Compare to Competitors?
Despite Ford’s impressive growth, competition in the EV space is heating up. Established brands and newcomers are aggressively innovating and expanding their portfolios, posing significant challenges to Ford’s momentum.
Tesla: The Market Leader
Tesla remains America’s best-selling EV brand, with the Model Y dominating the SUV market. Tesla's Supercharger network also provides a competitive edge, now accessible to some third-party EVs like the Hyundai Ioniq 5. Tesla sold over 400,000 EVs in the U.S. this year through November, far outpacing Ford.
Hyundai and Kia: Gaining Ground
Hyundai and Kia’s Ioniq 5 and EV6 have proven to be popular alternatives in the crossover segment. With Hyundai equipping its EVs with NACS ports for seamless access to Tesla’s Supercharger network, the company is making significant inroads. Hyundai reported 8,600 U.S. EV sales in November, a 28% increase year-over-year.
General Motors: A Diverse Portfolio
GM offers one of the largest EV portfolios, led by the Chevrolet Equinox EV and Bolt EUV. The company sold approximately 90,000 EVs year-to-date, narrowly edging out Ford. GM’s strategy focuses on affordability, with the Equinox EV starting at $34,995, and plans to expand into luxury with upcoming Cadillac EVs.
Rivian: Niche but Growing
Rivian is solidifying its position as a leader in the electric truck and SUV segments. While its sales volumes are lower, with around 50,000 deliveries so far this year, the company has a loyal following for its R1T pickup and R1S SUV.
Honda: A New Contender
The Honda Prologue, an all-electric SUV, is quickly gaining attention. Honda reported 3,000 Prologue deliveries in November, reflecting growing consumer interest in its EV offerings as it enters the competitive U.S. market.
Ford’s Hybrid Strength
While Ford’s fully electric vehicles are gaining momentum, its hybrids continue to dominate as volume sellers and profit drivers. Ford sold 257,693 electrified vehicles (including hybrids, PHEVs, and EVs) year-to-date. Notable contributors include:
- Maverick Hybrid: 66,272 units
- F-150 Hybrid: 67,666 units
Combined, Ford’s hybrid trucks account for over 133,000 sales, showcasing a balanced electrification strategy that resonates with consumers who value both efficiency and capability.
Challenges and Opportunities Ahead
Ford's EV success highlights its growing competitiveness, but it faces challenges:
- Rising Competition: Hyundai, GM, and Rivian are chipping away at Ford's market share with innovative designs, lower pricing, and better charging access.
- Policy Uncertainty: The potential discontinuation of federal EV tax credits under the incoming administration could impact affordability and demand.
Despite these challenges, Ford is well-positioned for growth, particularly with updates like the 2025 Mustang Mach-E, which now features a starting price of $36,495, improved efficiency, and advanced features like BlueCruise automatic lane changes.
The Road Ahead
Ford’s November success underscores the automaker’s ability to compete in the evolving EV market. As 2025 approaches, consumers can expect even more choices, with enhanced affordability and technology driving adoption. However, maintaining momentum will require continuous innovation and strategic adaptation to stay ahead of its growing list of competitors.