Ford Vehicles Sales Drop by 0.5% this November as EV Sales Rises

Dec 05, 2023 01:36 AM EST

WHITE FORD MUSTANG PARKED ON SIDEWALK — (Photo : PEXELS/Abdulwahab Alawadhi)

In November, Ford Motor encountered a minor setback in its U.S. new vehicle sales, experiencing a slight 0.5% dip. The company's production facilities were severely impacted by a prolonged workers' strike.

November Sales Dip

Ford successfully reached an agreement with the United Auto Workers (UAW) union in late October, ultimately concluding a strike that endured for over a month and bore an estimated cost of .7 billion for the automaker. It's worth noting that October also witnessed a 5.3% decrease in sales, attributed in part to the Detroit Three automakers' strategic buildup of inventory in anticipation of the labor strike, as reported by Reuters.

Yahoo Finance reported a marginal drop in Ford's U.S. vehicle sales for November; however, there was a noteworthy surge in electric vehicle (EV) sales. Yahoo also reported that Ford's CFO, John Lawler, acknowledged the challenges of resuming manufacturing plants post-agreement. It is a process that culminated in November following UAW workers' ratification.

During this period, Ford recorded a remarkable 43.2% increase in sales of its electric vehicles, totaling 8,958 units, demonstrating a growing interest in EVs among consumers.

In contrast, sales of Ford's trucks experienced a modest decline of 2.8%, with a total of 78,971 units sold during the same timeframe. The company sold 145,559 vehicles in November, down from 146,364 the year before.

EV Sales Reached Record High

As per the Detroit News, it's not only numbers dropping for Ford. As it experienced a 0.5% decrease in its November U.S. sales, there was a notable milestone achieved in electric vehicle (EV) sales.

Ford disclosed on Monday that it sold 145,559 vehicles last month, marking a slight drop from the 146,364 sold in November 2022. Meanwhile, the sales of electric vehicles surged by an impressive 43%, nearing the 9,000-vehicle mark.

Ford now stands as the second-leading EV seller, trailing only Tesla Inc. Hybrid car sales rose 75% throughout the same period. The surge in electric vehicle (EV) sales coincides with Ford's decision to scale down its investments in the EV sector.

Ford has trimmed down its originally planned expenses by a significant $12 billion. These measures have been taken in response to the slower-than-anticipated growth in EV sales, even though the overall volumes of EV sales are still on the rise

Detroit shared numbers about its EV sales. The company emphasized the Maverick's success as the leading hybrid pickup in terms of sales, with a remarkable 252% increase compared to the previous year. In November, Maverick sales experienced an overall growth of 39%.

Ford's upscale Lincoln division saw a 2.2% increase in sales, primarily driven by a substantial 58% surge in Nautilus SUV sales. However, Corsair and Aviator SUV sales saw a decline during the same period.

By the end of November, the Blue Oval had about 462,000 vehicles in stock, with 186,000 of them being F-Series trucks. In the first 11 months of the year, the company made 2.278 million vehicles in North America, including over 205,000 in November.

About Ford

According to its website, Ford value servicing customers, each other, and the world. The company has been part of many generations' dreams and memories. Ford has led and adapted to change for 120 years. This is why they are focusing on services, experiences, and software in addition to vehicles.