Ford set a new EV sales record in November even as F-150 lightning demand slips
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.
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The best-selling Genesis vehicle in North America is getting even better. Genesis updated the GV70 and Electrified GV70, giving the already impressive SUV more style, added features, and a refined interior. Ahead of deliveries, we are getting our first look at the upgraded interior of the new Genesis GV70 Electrified.
Genesis unveiled the refreshed Electrified GV70 at the LA Auto Show two weeks ago, fine-tuning the electric SUV inside and out.
One of the first things you will notice is the revamped front end with a redesigned G-Matrix Grille. The charge port is now in the grille and comes exclusively with an NACS port that unlocks access to Tesla’s Supercharger Network.
The new model features the unmistakable Genesis two-line headlamps, now equipped with microlens array (MLA) tech for better sight at night or in low-light areas.
According to Claudia Márquez, chief operating officer of Genesis Motor North America, the new Electrified GV70 offers “all of the utility and interior refinement of a great SUV without sacrificing the fun-to-drive character that Genesis vehicles are known for.”
The interior now includes a massive new 27″ OLED driver and infotainment display. With improved voice recognition, drivers can adjust the windows, control HVAC settings, and more.
2026 Genesis Electrified GV70 interior adds luxury, style
Ahead of deliveries, we are already getting a sneak peek at the updated interior. The latest video from HealerTV reveals the new Genesis Electrified GV70 interior design.
You can see the massive 27″ OLED display at the center. The EV version also differs from the gas-powered GV70, including added ambient mood and a marble-like design on the door panels. The second row also gains ambient lighting and what appears to be a touchscreen for the heat and air controls.
Overall, the new Genesis Electrified GV70 interior maintains its lavish, clean look. Even little details like suede seats with white stitching and white seat belts add to the luxurious feel inside the cabin.
The design isn’t the only upgrade. With a bigger 84 kWh battery, up from 77.4 kWh in the previous model, the new Genesis Electrified GV70 is expected to feature more driving range.
Although no specs were given, the new EV models are expected to gain a few extra miles of range, similar to the updated Hyundai IONIQ 5. The 2025 Hyundai IONIQ 5 gets up to 318 miles of range with the same larger battery, compared to 303 in the previous version.
Check back soon for more details. The new Genesis Electrified GV70 is expected to arrive at US dealerships in the first half of 2025.
Ready to check out the electric Genesis luxury SUV for yourself? With the new 2026 models arriving soon, Genesis is offering up to $12,750 off the 2025 Electrified GV70 with lease discounts. You can use our link to find the best deals on the Genesis GV70 at a dealer near you.
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Environment
EV tax credit is ‘catastrophically stupid,’ says incoming Ohio Senator and ‘car czar’ Bernie Moreno
Republican nominee for U.S. Senate Bernie Moreno addresses supporters at Brecksville Community Center on November 4, 2024 in Brecksville, Ohio.
Stephen Maturen | Getty Images
Republican Senator-elect Bernie Moreno, who made his living as a luxury car dealer before running against and defeating Democrat Sherrod Brown in the large manufacturing state of Ohio, said he is aiming to become the “car czar” within the Senate for the next Trump administration.
If Moreno is to fill that role, one of the first things he would target is eliminating the up to $7,500 tax credit that can be used to buy or lease an electric vehicle.
“At the end of the day, the $7,500 incentive is catastrophically stupid,” Moreno told CNBC D.C. Correspondent Emily Wilkins at the 2024 CNBC CFO Council Summit in Washington, D.C., on Wednesday.
Some senators, like Michigan’s Elissa Slotkin, who was criticized by her Republican challenger Mike Rogers for her support of the Biden administration’s embrace of electric vehicles, have looked to frame their support of the tax credit as a defensive move aiding the auto industry in its battle with Chinese auto manufacturers.
However, Moreno told Wilkins he views that position as “nonsense,” adding that the government should not “tell companies what to do and how to have a strategy.”
“If you don’t care what kind of car they drive, then let the markets work,” Moreno said. “We’re going to let the marketplace decide what kind of cars people should drive, and if it’s electric, great.”
Moreno pushed back against the argument that reversing Inflation Reduction Act incentives like the EV tax credit would effectively cede a key technology race to China. He said that if China is “dramatically ahead of us on EVs – good for them; we’re dramatically ahead of them in terms of combustion and hybrids.”
“So as a country, where do you prefer our industry to go? The places where we have a strategic advantage and not hand an industry over to China?” Moreno said. Moreno added that a change in U.S. law as it relates to the EV incentives is “not be handing it them” but a reflection that “consumers have spoken.”
“There’s never been a case in time where consumers have been more clear about what they want and don’t want,” Moreno said. “There’s people who EVs are great for them, and good for you, that car works for you, you should go out and buy it … But for a lot of people, they don’t want it.”
The euphoria that surrounded EV investment and sales has largely died out at major auto manufacturers, and automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin have announced plans to scale back or delay some electric vehicle plans.
While electric vehicle sales are still expected to increase in the coming years, the boom in consumer demand for EVs that many car CEOs expected never materialized. “What we saw in ’21 and ’22 was a temporary market spike where the demand for EVs really took off,” Marin Gjaja, chief operating officer for Ford’s EV unit, told CNBC earlier this year. “It’s still growing but not nearly at the rate we thought it might have in ’21, ’22.”
Instead, automakers are shifting their focus to a more mixed offering of vehicles with lineups of gas-powered cars alongside hybrids and EVs, rather than more towards plans like the all-electric by 2035 mandate laid out by GM CEO Mary Barra.
“We’re going to let the marketplace work,” Moreno said. “We’re going to create an environment for car companies to be able to have a good tax environment, a good regulatory environment and good workforce … Let the marketplace work; stop the madness of government intervention in corporations and the marketplace will take care of it.”
GM and EVgo have now reached the milestone of installing more than 2,000 co-branded public DC fast chargers in the US.
The latest addition is a new fast charging station in Murrieta, California, off Interstate 215 in Riverside County. The station features five 350 kW fast chargers that can serve up to 10 EVs at once, and it’s near restaurants, coffee shops, and retail.
The GM and EVgo partnership has resulted in DC fast chargers at over 390 locations in 45 metro markets across 32 states, focusing on spots like grocery stores, shopping centers, and city centers. Their goal is to make charging convenient for those who can’t do it at home, such as renters or people living in apartments. For those folks, finding a nearby fast charger can be a game-changer.
The GM and EVgo partnership is on track to reach its goal of 2,850 DC fast chargers nationwide. It plans to build 400 at flagship locations in major markets, including California, Florida, New York, and Michigan.
It’s been fast progress, too. In August 2023, GM and EVgo brought their 1,000th charging stall online in the Chicago suburb of Woodbridge, Illinois. In just 16 months, they’ve doubled their shared EV footprint, including at highway rest stops along interstate routes.
Wade Sheffer, vice president of GM Energy, said, “Our collaboration with EVgo underscores our dedication to providing EV drivers with the best possible experience by expanding reliable fast charging infrastructure across the country.”
Read more: Tesla loses out to EVgo in Oklahoma’s NEVI EV charger rollout
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