Dearborn-based Ford Motor Co (NYSE:F) sold 30,176 electric vehicles in the fourth quarter in the U.S., taking its EV sales for the whole year to 97,865 units.
What Happened: While Ford’s annual EV sales in the U.S. couldn’t breach the 100,000 mark, it still marks a 35% increase from its EV sales in 2023.
Ford has only three EVs on sale in the U.S. as of today- the Mustang Mach-E SUV, the F-150 Lightning pickup, and the E-transit van.
The Mustang Mach-E was the best-selling EV in the fourth quarter of 2024, followed by the company’s electric pickup. In fact, the electric SUV was the company’s best-selling EV in all four quarters of 2024.
Ford sold 51,745 Mach-E SUVs across the last four quarters, marking a growth of 27% year-on-year. F-150 Lightning sales rose 39% to 33,510 units and the E-Transit a whopping 64% to 12,610 units in the period.
Why It Matters: EVs, however, accounted for merely 5.7% of Ford’s overall vehicle sales in Q4 and 4.7% of its sales in 2024. Hybrid vehicles, in comparison, accounted for 9% of the company’s overall sales in the year.
In August, Ford said that it is killing its plans to build a three-row electric SUV, initially slated for production in 2025. The company also postponed its plans for a new electric version of its F-150 pickup to 2027 and said it will start making a new electric commercial van in 2026.
More details on the company’s EV strategy are now expected in the first half of 2025.
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