Although Ford set a new monthly EV sales record in November, demand for the electric F-150 Lightning pickup continued falling. Luckily, higher Mustang Mach-E and E-Transit sales carried the weight.
Ford EV sales reach new record in November 2024
The automaker sold 166,373 vehicles in the US last month, up 14% year over year and its best November sales month since the pandemic.
Ford set a new monthly EV sales record with 10,821 all-electric models sold in November, up 21%. Despite the record-setting performance, Ford sold fewer F-150 Lightning electric pickups than last November.
F-150 Lightning sales fell 17% from 4,393 in November 2023 to 3,643 last month. Through the first 11 months of the year, Ford Lightning sales are still up 39% at over 28,300. Meanwhile, Ford’s other two all-electric models boosted the growth.
With another 5,938 Mustang Mach-Es sold last month, Ford’s electric crossover SUV remains a top seller in the US.
Through November, Ford has sold nearly 45,000 Mach-E models, 25% more than the roughly 36,000 handed over last year. Ford’s electric van saw significantly higher sales, with 1,240 E-Transit vans sold last month, up 358% from November 2023.
Despite the growth, Ford’s stock was down on Wednesday following its November sales release. Shares of Ford Motor (NYSE: F) are down 6% in 2024.
Keeping up with the competition
Ford’s record EV sales come as several rivals also reported higher demand for electric models. Kia and Hyundai both set new November sales records as new EVs, like the 2025 IONIQ 5 and three-row EV9, gain momentum.
Honda is another brand to keep an eye on in the US electric vehicle market. Despite delivering the first models in March, Honda has sold over 25,000 Prologue electric SUVs in the US. With over 6,800 Prologue models sold in November, Honda’s electric SUV even outpaced the Mustang Mach-E.
Ford’s electric pickup is also facing stiff competition from the Tesla Cybertruck, Chevy Silverado EV, and GMC Sierra Denali EV hitting the market.
To keep up with the competition, Ford is offering significant incentives on its EV models to close out the year with several discount programs. Ford is offering 0% interest for 72 months and $5,000 in Bonus Cash.
Lease bonuses are even better, with up to $10,500 off the 2024 Mustang Mach-E and $6,500 off the F-150 Lightning.
Through its “Ford Power Promise,” the company is also giving EV buyers a free Level 2 home charger and covering the cost of installation. Ford is also providing free 24/7 live support and an 8-year/ 100,000-mile battery warranty.
Ready to take advantage of the savings? They may not last long. You can use our links below to view offers on the Ford F-150 Lightning and Mustang Mach-E in your area.