Overview
- Ford said its all‑electric sales fell 25% year over year in October, including a 12% decline for the Mustang Mach‑E, a 17% drop for the F‑150 Lightning, and a 76% slide for the E‑Transit van.
- Hyundai and Kia reported steep year‑over‑year declines of roughly 52% to 71% for key EVs, with Hyundai’s Ioniq 5 down 80% and Ioniq 9 down 71% from September to October.
- The October pullback followed a record third quarter for U.S. EVs, with 438,487 units sold, according to Kelley Blue Book estimates from Cox Automotive.
- Market share remains concentrated, with Tesla at 43.1% and General Motors at 13.8% of U.S. EV sales through Q3, per Motor Intelligence data.
- Executives had warned of a post‑credit slump, with Ford CEO Jim Farley saying he would not be surprised if EV market share slipped toward about 5% after September’s double‑digit share.