Ford (F.US) saw a slight decrease of 0.9% in sales in the United States in November. The expiration of tax incentives led to a dramatic 61% drop in sales of electric vehicles.

Ford Motor Company (F.US) released a report stating that US car sales in November fell by 0.9% compared to the same period last year, leading to a decline in stock prices on Tuesday. The Detroit automaker saw a 2.2% increase in sales of its internal combustion engine vehicles, but this was offset by a sharp 61% drop in sales of all-electric vehicles. The significant decrease in electric vehicle sales was widely expected as electric vehicle tax credits expired. Sales of hybrid vehicles grew by 13.6% during the month. In November, Ford SUV sales decreased by 4.9% year-on-year to 64,022 units, while truck sales remained steady at 96,696 units. Sales of the F-Series models dropped by 9.6% in the same month. The standout model for the month was the Mustang, with sales increasing by 79% to reach 4,207 units. At the time of writing, Ford's after-hours trading saw a slight increase of 0.23%. Ford's US stock closed down 1.52% on Tuesday. French bank analyst James Picarollo warned earlier in the day that Ford could face challenging circumstances in 2026. Based on valuation and a more robust operating record, the bank is more bullish on General Motors Company (GM.US). In October, Ford's US market sales grew by 1.6% year-on-year, reaching 175,584 units, mainly driven by increased demand for pickup trucks despite a noticeable decline in electric vehicle sales. Due to the official cancellation by the Trump administration of the $7,500 federal tax credit for each electric vehicle, there was a rush to buy electric cars in the market in the third quarter. Industry analysts had previously predicted a significant decrease in electric vehicle sales at the end of the year after the subsidy was canceled. Last month, it was reported by insiders that Ford Motor Company is considering discontinuing its all-electric F-150 Lightning pickup truck. While a final decision has not yet been made on this model, executives are actively discussing the matter. The F-150 Lightning was once a core part of Ford's electric vehicle strategy, but its high price and range anxiety made it difficult to attract buyers. Ford also mentioned that they are looking to focus their electric vehicle development efforts on smaller, more affordable models.