Ford’s Mustang is seeing a surprising sales surge, while its electric vehicle (EV) numbers are falling sharply. The automaker sold nearly as many gasoline-powered Mustangs in November as it did EVs across its entire lineup – including the Mach-E, F-150 Lightning, and E-Transit. This trend underscores the impact of shifting consumer preferences and the waning effect of federal EV tax credits.
Gas-Powered Revival
Mustang sales were sluggish for most of 2025, with only 1,800 units moved in September. However, November saw a dramatic turnaround, with 4,207 Mustangs sold. This is especially notable given that Ford sold just 4,247 EVs in total during the same period. The surge in Mustang demand highlights a clear preference among some buyers for traditional gasoline engines.
EV Sales Collapse
The decline in EV sales is stark. The electric Transit van saw an 82% drop from 1,240 units sold last year to just 227 this November. The F-150 Lightning also suffered a significant decrease, with sales down 72% compared to the same month in 2024. This downturn is likely tied to the expiration of federal tax credits, which previously incentivized EV purchases.
Year-to-Date Performance
Despite the recent slump, Ford’s EVs still lead in overall sales for the year. The automaker has moved nearly 80,000 electric vehicles in 2025, compared to just over 40,000 Mustangs. However, the accelerating decline in EV sales suggests this gap may narrow if current trends continue. Mustang sales are down only 1.6% for the year, and a strong December could change the final figures.
Bright Spots in Ford’s Portfolio
The Maverick pickup and Ranger mid-size truck are bucking the trend. The Maverick saw a 36% increase in November sales, reaching 9,883 units, while the Ranger experienced a 36% jump. Overall, Ford’s total sales are up over 6% year-to-date, indicating that despite EV struggles, the company’s broader portfolio remains strong.
The current shift in sales reflects the sensitivity of EV demand to incentives and the enduring appeal of gasoline-powered vehicles. Unless Ford introduces aggressive pricing or new incentives, the EV slump is likely to worsen as we move into the holiday season.
This sales data signals that while Ford is committed to electrification, the transition may be more challenging than anticipated. Consumers still favor traditional vehicles, particularly when financial incentives disappear.
