Ford's Mustang Mach-E Sales Skyrocket 38.3% In November Amid Growing EV Momentum

Ford Motor Co. F reported U.S. sales growth of 14.3% year-over-year to 166,373 units in November.

This was driven by a 27.1% increase in F-Series trucks, a 38.3% surge in Mustang Mach-E sales, and a 20.8% Y/Y rise in EV sales.

The Lincoln brand experienced significant growth, with sales up 48.7% Y/Y. Electric vehicle sales growth in the U.S. was also led by an increase in E-Transit sales (+357.6% Y/Y).

However, with a drop in sales for its F-150 Lightning EV (-17.1% Y/Y) and Ford sold 10,821 electric vehicles in the month, with its Mustang Mach-E generating 5,938 unit sales.

Combustion engine vehicles sales rose 13.4% Y/Y, while Hybrid Vehicles sales surged 18.5% Y/Y.

Last month, the company reportedly slowed production of the electric Capri and Explorer at the Cologne factory in Germany owing to slowing EV demand.

Ford also said that it would pause the production of its F-150 Lightning pickup truck for six weeks through the end of the year at the Rouge Electric Vehicle Plant in Michigan.

Apart from this, Ford agreed to $165 million NHTSA penalty for delayed recalls of defective rearview cameras, marking second-largest fine in agency’s history.

Investors can gain exposure to the stock via First Trust Nasdaq Transportation ETF FTXR.

Price Action: Ford shares are down 1.71% at $10.64 at the last check Wednesday.

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