After its best EV sales quarter ever in the fourth quarter, Ford is extending its “Power Promise” program, which includes a free home charger. Ford looks to keep the momentum going this year after the F-150 Lightning and Mustang Mach-E set new sales records in 2024.
Ford set a new EV sales record in Q4 and 2024
Ford’s total US sales rose 8.8% in the fourth quarter, with 530,660 vehicles sold. The growth helped push Ford’s full-year 2024 sales to over 2.07 million, up 4.2% from 2023, double the estimated industry average (2%).
The growth was primarily thanks to higher electrified vehicle sales, including EVs, HEVs, and PHEVs. Ford sold nearly 285,600 electrified vehicles in 2024 (+38% YOY), which the company claims is more than cross-town rivals GM and Stellantis.
Ford’s fully electric vehicles, the Mustang Mach-E, F-150 Lightning, and E-Transit, all set new sales records last year. The company sold a record 30,176 EVs in the fourth quarter (+16% YOY) for a total of 97,865 (+34.8% YOY) in 2024.
With 16,119 units sold in Q4 2024, Ford’s Mach-E had its best sales quarter so far. The Mach-E was the second-best-selling electric SUV in the US in 2024, behind Tesla’s Model Y, with 51,745 units sold (+27% YOY).
Although F-150 Lightning sales slipped 10% in Q4 with just 10,703 models sold, Ford sold over 33,500 electric pickups in 2024, up 38% from the prior year.
Meanwhile, Ford’s EV E-Transit van continued seeing higher demand, with sales surging 64% in 2024. Ford sold over 12,600 E-Transit vans last year.
After seeing EV sales pick up in Q4 2024, Ford is extending its “Power Promise” promotion. Launched in October, the program provides all new EV buyers with a free Level 2 home charger, and Ford covers the cost of standard installation.
Q4 2024 Sales
YOY change (vs Q4 2023)
Full-Year 2024 sales
YOY change (vs 2023)
F-150 Lightning
10,703
-10.1%
33,510
+38.7%
Mustang Mach-E
16,119
+35.6%
51,745
+26.9%
E-Transit
3,354
+56.5%
12,610
+64.4%
Total EV sales
30,176
+16.3%
97,865
+34.8%
Ford EV sales in Q4 and full-year 2024
Ford wants buyers to realize the true benefits of driving an EV, like waking up with a full charge every morning. Other benefits of the program include an 8-year, 100,000-battery warranty, 24/7 live support, and roadside assistance.
Electrek’s Take
Like most, Ford is offering significant incentives on electric models. The discounts and promotions fueled a record sales quarter in Q4, but with a new wave of EVs hitting the market in 2025, will Ford be able to continue the momentum?
Ford delayed its three-row electric SUV, opening the door for rivals like Kia, Hyundai, Volvo, Rivian, and others to take advantage.
Hyundai and Kia set new US sales records in 2024 and expect even more demand this year with new EVs and US production ramping. Hyundai opened its massive new EV plant in Georgia late last year and is building new models like the upgraded 2025 IONIQ 5 and three-row IONIQ 9. New EVs built at the facility now qualify for the $7,500 federal tax credit for the first time.
Kia credited the successful launch of its three-row EV9 SUV as a big reason behind its success. After delivering the first models in late 2023, Kia sold over 22,000 EV9s last year. Kia is building the EV9 at its West Point, GA plant, enabling it to also qualify for the $7,500 credit.
With other EVs gaining momentum, like the Chevy Equinox EV and Honda Prologue, can Ford keep pace in 2025? Let us know your thoughts below.
Ready to take advantage of the savings? We’ve got you covered. You can use our links below to find deals on new Ford F-150 Lightning and Mustang Mach-E models in your area.
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A new company called DRYFT1 is sliding its way into electric mobility on the wheels of a new hybrid product that mixes a BMX bike with a skateboard. The DRYFT Board is a hybrid board cross (HBX) that has combined the best elements of BMX and skateboarding into a one-of-a-kind all-electric product that gives riders the freedom to freestyle on roads in ways we haven’t seen before. You’ve gotta see this thing in action in the video below.
DRYFT1 is a new company with roots in Venice, California, a renowned area it credits for inspiring its dedication to motion and creativity. The company is just coming out of stealth mode and is fully funded, reiterating to Electrek that this is “not a Kickstarter.”
DRYFT1 describes its company ethos in one word: “freedom.” Recreational riders in Southern California have already taken to land and sea with surfboards, bikes, and skateboards, many of which have gone electric.
However, DRYFT1 has created a new one-of-a-kind product that allows riders to paint their local pavement in a new way. Today, the company introduced its flagship product, the DRYFT Board, an electric bike and skateboard hybrid that looks like it brings a new level of fun and expression to an already creative mobility segment.
The design of the DRYFT Board may raise some eyebrows at first glance, but once you see what an experienced rider can do on it, you’re probably going to want to take on for a spin yourself.
DRYFT1 launches a unique electric bike/skateboard combo
Per DRYFT1, its new “board” is all about the slide. The BMX bike/skateboard hybrid has been equipped with an electric motor that replicates the indescribable glide of a drift and has opened up access to that feeling to anyone, anywhere. DRYFT1 described the goal of its product:
Taking the coveted feeling that was once limited to those in these worlds of action sports, pushing their limits of speed and friction, and bringing that sought-after movement to the slide to anyone.
With the heart of an e-bike and the soul of a flat-track motorcycle, the DRYFT Board arrives in a category all its own (just don’t call it an e-scooter). Its skateboard deck is comprised of bamboo, fiberglass, and carbon fiber to deliver durability and resilience through slides and other sleek maneuvers on the road.
It is powered by a 500W front hub motor that can propel the board up to 20 mph, and the bike/skateboard hybrid’s battery can deliver 17 to 20 miles of all-electric range. Those are important stats for commuting, especially in a straight line, but that’s not what the DRYFT Board was designed for.
The electric skateboard/bike hybrid features a custom-engineered independent suspension truck system made from aluminum alloy, complete with 51mm springs to enable controlled sliding, carving, and drifting. Those maneuvers stem from the board’s center caster wheel, which is supported by proprietary polyurethane edge wheels for grip and drift performance.
Riders can choose between two ride modes: “Slide Mode” for smooth sliding on the pavement, and “Carve Mode,” which locks the center wheel for smooth cruising. While sliding, carving, or just cruising, riders can control the speed and acceleration of the electric skateboard/bike combo with a right thumb throttle on the handlebars.
Other features include a front hydraulic disc brake and high-quality grip tape on the rear deck. DRYFT1 also designed the board to disassemble into two components for easier transport and storage. The DRYFT Board electric bike and skateboard hybrid debuts in two colors – “Dryft Blue” and “Asphalt Black.”
The Dryft Board is available for purchase at Dryftboard.com beginning today and is priced at $3,500.
As previously mentioned, it’s impossible to truly grasp the capabilities of this unique new form of electric mobility without seeing it in action, so we recommend checking out DRYFT1’s launch video below.
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The bulls returned to Wall Street on Friday after a brief hiatus. In the week ahead, investors from all camps will focus on a series of labor market reports for clues on where the U.S. economy and stock market may go from here. The S & P 500 , Nasdaq Composite and Dow Jones Industrial Average are coming off a volatile, holiday-shortened trading week. Despite a big and broad rally in Friday’s session, the major stock benchmarks all posted weekly losses. The S & P 500 and Nasdaq both lost 0.5%, while the 30-stock Dow dropped 0.6%. The S & P 500 and Nasdaq entered Friday on five-session losing streaks. The Dow had been on a four-day skid. The market was closed Wednesday for New Year’s Day. Sure, it’s now 2025, but “the same stocks that are good are still good,” Jim Cramer said on Friday’s Morning Meeting. He noted that the winners circle in 2024 once again included semiconductor companies such as Club holding Nvidia , our No. 1 portfolio performer last year. The artificial intelligence chip king also was among our top-performing stocks last week, with a 5.7% gain that trailed only oil-and-gas producer Coterra Energy and solar firm Nextracker , which both rose roughly 6.5%. We booked a nearly 1,000% profit when we trimmed some Nvidia shares on Thursday. 1. Nvidia CEO Jensen Huang’s keynote address at the annual CES conference in Las Vegas, set to begin at 9:30 p.m. ET on Monday , is one of the biggest events on the corporate calendar in the week ahead. “The scuttlebutt on the speech is that you’ve seen none of it,” Jim said. “A lot of emphasis, by the way, on total cost of ownership and the return that you get by buying his chips. I think that’s going to change the discussion” and quiet concerns about custom AI processors encroaching on Nvidia’s turf, he added. 2. The employment picture will command the spotlight on the economic front, starting Tuesday morning with the Job Openings and Labor Turnover Survey for November. The closely watched reading, known as JOLTS, measures the tightness or slack in the labor market. Economists expect 7.7 million job openings in November, according to Dow Jones. That would be in line with the prior month. 3. The main jobs event of the week is Friday morning’s nonfarm payroll report for December. The consensus forecast is that the U.S. added 155,000 jobs in the final month of 2024 and the unemployment rate held steady at 4.2%, according to estimates compiled by Dow Jones. In November, nonfarm payrolls expanded by a better-than-expected 227,000 , while the unemployment rate matched forecasts. 4. Before Friday’s official government report, payroll processing firm ADP will release its look at private-sector job creation in the U.S. on Wednesday morning. The ADP report is expected to show that 130,000 jobs were added in December, per Dow Jones. Initial jobless claims also will be released Wednesday, a day earlier than normal, because Thursday is the national day of mourning for former President Jimmy Carter. The U.S. stock market also is closed Thursday. The fresh batch of labor market data will help shape investors’ thinking about the course of Federal Reserve policy this year. A stronger-than-expected December jobs report, in particular, has the potential to reinforce expectations for less supportive monetary policy in the year ahead. In mid-December, the central bank released projections that showed policymakers expect to lower interest rates just twice in 2025 , down from an expectation of four cuts provided in September. The more hawkish stance spooked the stock market, and the S & P 500 remains nearly 2% below its Dec. 17 close, the day before the Fed’s disclosure. We’ll keep a close eye on bond yields for real-time clues on how the market is perceiving the forthcoming labor numbers. Strong data generally lends support for yields. “[Bonds] are reacting to every piece of data. I think that’s because there’s a perception that the economy is actually accelerating, doing well,” Jim explained during Thursday’s Morning Meeting. 5. Modelo and Corona brewer Constellation Brands is the only Club holding set to report earnings this week. The numbers are now due out before the bell Friday, instead of the originally scheduled Thursday, because of the national day of mourning. Analysts expect Constellation to have earned $3.32 cents per share on revenues of $2.54 billion in the three months ended Nov. 30, according to LSEG. We added to our position in Constellation Brands on Tuesday. Within the report, the year-over-year growth rate of its beer business will hold a lot of weight. Investors were not satisfied with the 6% figure in Constellation’s June-to-August period, which represented a slowdown from the 8%, 11%, and 11.8% growth seen in the three prior quarters. Constellation’s struggling wine-and-spirits division also will be in focus. CEO Bill Newlands in October talked about some “green shoots” in some higher-end wine brands, and now we’ll get to see whether there was any sequential improvement in this disappointing segment. There’s plenty more for Constellation executives to discuss on their earnings call. When it comes to President-elect Donald Trump’s proposal for higher tariffs on Mexican imports, we’re curious if management will mention the possibility of securing exemptions. Analysts at Roth MKM floated this possibility late last year , citing an agreement with the Justice Department that effectively requires Constellation to make its Mexican beers in Mexico. The U.S. surgeon general’s new warning on alcohol and cancer risks, which weighed on the stock in Friday’s session, also figures to be a topic of conversation. Week ahead Monday, Jan. 6 10 a.m. ET: Durable Goods and Advance Total Manufacturing report for November 9:30 p.m. ET: Nvidia CEO Jensen Huang keynote at CES Tuesday, Jan. 7 10 a.m. ET: Job Openings and Labor Turnover Survey (JOLTS) 10 a.m. ET: ISM Services for December Before the bell: Apogee Enterprises (APOG) After the bell: Kura Sushi USA (KRUS) Wednesday, Jan. 8 8:15 a.m. ET: ADP Employment Survey 8:30 a.m. ET: Initial jobless claims 2 p.m. ET: FOMC minutes Before the bell: AngioDynamics (ANGO), Helen of Troy (HELE), Simply Good Foods (SMPL), Albertsons (ACI) After the bell: Penguin Solutions (PENG) Thursday, Jan. 9 NYSE and Nasdaq closed for national day of mourning Friday, Jan. 10 8:30 a.m. ET: Nonfarm payroll report 10 a.m. ET: Preliminary Michigan Consumer Sentiment Index Before the bell: Walgreens Boots Alliance (WBA), Delta Air Lines (DAL), Constellation Brands (STZ) After the bell: WD-40 (WDFC) (Jim Cramer’s Charitable Trust is long NVDA, STZ, CTRA and NXT. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
“Now Hiring” signage outside a Home Depot store in San Carlos, California, US, on Monday, Nov. 11, 2024.
David Paul Morris | Bloomberg | Getty Images
The bulls returned to Wall Street on Friday after a brief hiatus.
In the week ahead, investors from all camps will focus on a series of labor market reports for clues on where the U.S. economy and stock market may go from here.
As powerful electric motorbikes such as those from brands like Sur Ron and Talaria become more popular, especially with teens, police departments in the US are increasingly cracking down on their use on public roads.
One of the latest examples comes to us from the Manhattan Beach Police Department in Los Angeles County.
The MBPD has seen an uptick in juveniles riding Sur Ron-style electric motorbikes, which fall far outside the regulatory limits of electric bicycles. These higher-performance vehicles can reach speeds twice as fast as legal electric bicycles and often feature 5x the power level. Critically, they also lack pedals and thus function more like light electric dirt bikes.
According to a recent post shared by the MBPD, the police department has continued to come across these vehicles being ridden by juveniles around the city. “Parents, please make sure those Christmas presents are being used legally and responsibly,” the MHBP stated, “so we don’t have to play the role of the Grinch.”
Further clarifying, the police department explained that such motorbikes aren’t legal for use on public roads or bike paths. “Talaria, Surron, ERidePro, and other similar-type electric motorcycles are not safe or legal for operation on city streets, sidewalks, or The Strand. A few juveniles have learned the hard way and found their ‘bikes’ on the back of a tow truck.”
The MHBP also shared an image below of multiple electric motorbikes being towed away. Ironically, one of the police vehicles at the scene is a police-issue electric-assist patrol bicycle.
More teens turning to high-power electric motorbikes
These powerful e-motorbikes are often marketed as electric bicycles, despite falling well outside the line of electric bicycle regulations. But because they’re readily available online, easy to ride, and are often improperly marketed as not requiring a license or registration for street use, they’ve proven popular with teens and young riders.
California recently passed new legislation more clearly delineating electric bicycle classifications, further underscoring the illegal nature of riding these types of vehicles on the road without proper motor vehicle registration.
However, many riders, particularly teens, are unaware that these bikes do not meet the legal requirements for bike paths or unlicensed street use, leading to traffic stops, fines, and sometimes even confiscations.
Law enforcement officials, as well as community watchdogs, often cite concerns about pedestrian safety, traffic violations, and the risk of accidents.
We’ve seen these crackdowns increase over the years as more police departments are forced to tackle the growing phenomenon of powerful electric motorbikes being ridden on public streets and bike paths as if they were normal electric bicycles.
The crackdown underscores the need for better education regarding these high-powered electric motorbikes, as they continue to rise in popularity among younger users.