• Ford Motor Co. reported a steep 61% year-over-year decline in U.S. electric vehicle sales for November, selling just 4,247 units.
  • The sharp drop reflects a broader market correction following the expiration of the federal $7,500 EV tax credit on September 30, which had fueled a surge in third-quarter sales.
  • Ford's leadership is signaling a strategic pivot toward more affordable EVs, with CEO Jim Farley targeting a $30,000 price point to align with shifting U.S. consumer demand.

Ford Motor Co.'s electric vehicle ambitions hit a significant speed bump in November, with sales plummeting 61% from the prior year to just 4,247 units. The stark figure, confirmed in the company's latest sales report, underscores the immediate and severe impact of the expired federal incentive and raises questions about the near-term trajectory of EV adoption in the U.S.

The decline is far steeper than the overall market's pullback, suggesting Ford's EV portfolio may be particularly vulnerable to the new pricing environment. In October, following the credit's expiration, overall U.S. battery electric vehicle (BEV) sales dropped approximately 25%. Ford's November performance indicates that pressure intensified as the year wound down. "We are seeing headwinds from higher effective prices and fewer government subsidies," an analyst familiar with the automaker's sales data noted, echoing broader industry sentiment.

This sales cliff follows a period of artificial strength. In September, consumers rushed to lock in the $7,500 credit before its sunset, causing BEV sales to surge more than 40% year-over-year. That surge created a distorted baseline and pulled forward demand that now appears to have evaporated. Through the first ten months of 2025, EVs still comprised a respectable 9.8% of total U.S. new vehicle sales, but the fourth-quarter shift is dramatic.

Internally, Ford's strategy is now crystallizing around affordability. In recent remarks, CEO Jim Farley has been explicit, stating that U.S. buyers have shown little interest in premium $75,000 EVs. The company is now focusing its next generation of electric models on hitting a $30,000 price target, a move seen as essential to competing without the cushion of federal incentives. Efforts to reach Ford for further comment on the November sales figures were not immediately successful.

The challenges aren't limited to pricing. Industry-wide, the buildout of public charging infrastructure is facing its own hurdles. S&P Global recently revised its 2025 forecast for North American charger installations downward, from 160,000 to approximately 120,000. This slower-than-expected expansion adds another layer of friction for potential EV buyers concerned about practicality.

While Ford grapples with its steep decline, the competitive landscape is shifting. Through October, General Motors held the largest share of the U.S. EV market at 11.7%, while Honda posted the fastest growth with year-to-date sales up 120%. The divergence suggests that product mix and pricing strategy are becoming critical differentiators in a post-incentive world.

Correction: An earlier version of this article misstated the year-over-year comparison period for the overall October BEV sales decline. It has been corrected to reflect the drop was compared to October 2024.