Ford's EV Sales Plunge 65%: U.S. Big Three Face Fundamental Overhaul of EV Strategies

Electric vehicle (EV) businesses of U.S. automakers are facing a crisis and retreating as sales of flagship EVs, such as those by Ford, plummet by 65%.

Major U.S. automakers, including Ford, General Motors (GM), and Stellantis, are fundamentally reshaping their management strategies as mounting losses in their EV businesses grow.

According to industry sources and foreign media reports on the 30th, Ford's flagship EV, the Mustang Mach-E, recorded 1,863 sales in the U.S. in July, marking a 64.9% decrease compared to the same month last year (5,308 units).

Cumulative sales from January to July stood at 13,495 units, down 50.2% from the same period last year (27,093 units).

The drop in total all-electric vehicle sales for Ford, including the Mach-E, was even steeper. Total EV sales in July (2,065 units) fell 74.9% from the same month last year (8,229 units), while cumulative sales from January to July (18,671 units) dropped 60.5% compared to the same period last year (47,217 units).

Sales of the F-150 Lightning, which was discontinued last year, slumped to just 141 units in July, a 95% plunge year-on-year.

Ford currently sells only two EV models: the Mustang Mach-E and the E-Transit. Sales of the E-Transit reached 61 units last month, down 32.2% from 90 units in the same month last year.

Amid recent sluggish EV sales, the announcement of a recall for approximately 86,000 Mustang Mach-E vehicles from model years 2023 to 2025 has overlapped, leading to evaluations that Ford's brand trust is significantly shaken.

Ford has cut its EV capital investment from 40% to 30%.

GM, the second-largest player in the U.S. EV market after Tesla, has also retreated from its existing EV strategy by delaying future electric model plans.

GM previously announced in October of last year that it would launch a comprehensive review of its EV production capacity and manufacturing bases in response to slowing EV demand and shifts in U.S. government policy.

Early this year, the company stated that it would reflect plans to scale down EV production capacity by booking $6 billion in costs in the fourth quarter of 2025.

GM also drastically lowered its EV production targets for this year, revising its strategy instead to reintroduce hybrids (HEVs) and plug-in hybrids (PHEVs).

Moving away from its previous stance of sticking solely to all-electric vehicles, the company plans to reintroduce PHEVs to the North American market around 2027.

Stellantis, which owns Chrysler, Jeep, Ram, and Dodge, originally set a goal to fill 50% of its North American sales with EVs by 2030. However, the company later changed its strategy and announced the "FaSTLAne 2030" strategy in May, focusing on strengthening profitability and optimizing its brand portfolio.

According to this strategy, Stellantis plans to introduce a total lineup of about 110 models, including over 60 new vehicles, by 2030.

This lineup includes 24 HEVs, 15 PHEVs and extended-range electric vehicles (EREVs), and 39 internal combustion engine models, with only 29 models being pure electric vehicles.

An industry insider projected, "As consumers prefer hybrids over pure electric vehicles due to high interest rates and a lack of charging infrastructure, U.S. automakers appear to be stepping back from their existing EV strategies. It is highly likely that pure electrification targets will not be met by 2030."

(Photo captured from Ford website, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.