Ford is facing a challenging moment in its electric-vehicle division, with sales sliding sharply as federal tax credits disappear. While its EV lineup struggles, an unexpected winner has emerged: the gas-powered Mustang. In November, Ford sold nearly as many Mustangs as it did all its electric models combined — not just the Mach-E, but also the F-150 Lightning and the E-Transit.
Mustang sales had been sluggish for most of the year, hovering just above 1,800 units in September. But November brought a dramatic surge, with Ford delivering 4,207 Mustangs in a single month. By comparison, total EV sales only reached 4,247 units, and each electric model saw a significant month-over-month decline.
Despite the weak November performance, Ford’s electric lineup still holds a year-to-date advantage. Nearly 80,000 EVs have been sold in 2025, roughly double the 40,870 Mustangs delivered so far this year. Even so, the EV downturn is accelerating for key models like the Lightning and the E-Transit, both of which have suffered steep declines compared to the same month last year.
The numbers highlight how sharply consumer interest has shifted. Ford sold just 227 E-Transit vans in November — an 82 percent drop from the 1,240 sold a year earlier. The F-150 Lightning also saw a steep monthly decline, falling 72 percent year-over-year. Meanwhile, Mustang sales, though slightly down for the year overall, are closing the gap thanks to November’s strong performance.
Not every part of Ford’s lineup is struggling. The Maverick continues to be a standout, posting nearly 10,000 sales in November, well above last year’s numbers. The Ranger is also seeing solid growth, with a 36 percent increase for the month. As a company, Ford remains more than 6 percent ahead year-to-date.
With one month left in the year, all eyes are on whether the Mustang can end 2025 with momentum. A strong December could offset its small 1.6 percent year-to-date decline. As for Ford’s EVs, further drops seem likely unless the automaker rolls out aggressive incentives — something shoppers may want to watch closely as holiday pricing ramps up.
