In November 2024, Ford Motor Company (Ford) set a new milestone by selling nearly 11,000 electric vehicles (EVs) in a single month. Despite this achievement, Ford’s stock slipped 0.8% on Wednesday, closing at $10.74, as broader market indices like the S&P 500 and Dow Jones Industrial (DJI) average posted gains of 0.6% and 0.7%, respectively.
The automaker delivered about 166,000 vehicles overall in November, reflecting a 14% year-over-year increase. This recovery is notable given the lingering effects of the United Auto Workers (UAW) strike earlier in the year. Year-to-date, Ford has sold approximately 1.9 million vehicles in the U.S., a 5% increase from the same period in 2023.
EV and Hybrid Sales Shine –
Ford’s EV sales were led by the Mustang Mach-E, F-150 Lightning, and e-Transit van. The company sold nearly 6,000 Mach-Es, about 3,600 Lightnings, and over 1,200 e-Transit vans in November. These figures represent month-over-month improvements and pushed Ford’s EV sales to a record high for a single month.
In addition to the EV performance, Ford sold over 14,000 hybrid vehicles in November, marking a 19% year-over-year increase. Hybrids accounted for more than 15% of Ford’s total sales for the month, another record-breaking statistic for the automaker.
F-Series Continues to Lead –
Ford’s flagship F-Series trucks remained a cornerstone of its profitability. The automaker has sold 685,777 F-Series units year-to-date, a 1% increase from 2023. These trucks remain a critical component of Ford’s financial success, balancing the high development costs of its EV segment.
Investor Concerns Loom –
Despite the positive sales momentum, Wall Street remains cautious about Ford’s financial outlook. Analysts project that Ford’s operating profits will decline from $10.4 billion in 2023 to $10 billion in 2024 and further to $9.7 billion in 2025. Concerns over cost controls and the high investment demands of EV development continue to weigh on investor sentiment.
Ford’s stock performance remains lackluster while the seasonally adjusted annual rate (SAAR) for November was a robust 16.7 million vehicles—a 9% year-over-year increase. Year-to-date, Ford shares have dropped about 12%, reflecting broader worries about the automaker’s long-term profitability amid its EV transformation.
Conclusion –
Ford’s record-breaking EV sales in November underscore the company’s growing foothold in the EV market. However, as Wall Street weighs in on long-term challenges like cost management and profitability, Ford must demonstrate that its electrification investments can deliver sustained financial returns.
 set a new milestone by selling nearly 11,000 electric vehicles (EVs) in a single month. Despite this achievement, Ford’s stock slipped 0.8% on Wednesday, closing at $10.74, as broader market indices like the S&P 500 and Dow Jones Industrial (DJI) average posted gains of 0.6% and 0.7%, respectively.){kind=link}