TLDR
- Ford’s total US vehicle sales increased 1.6% year-over-year in October to 175,584 units, a slowdown from the 7% growth rate seen earlier in 2025.
- Electric vehicle sales dropped 25% to just 4,709 units in October, the first full month without the $7,500 federal EV tax credit.
- Ford’s pickup truck sales rose nearly 5% to 105,771 units, with strong demand for Ranger and Maverick models offsetting the EV decline.
- The company’s F-Series truck sales increased only 1% in October, down from 13% growth earlier in the year, partly due to a supplier fire at a Novelis plant.
- Ford stock fell 1.2% to $12.98 in early trading but remains up 30% year-to-date, while competitors Rivian and Lucid declined 0.8% and 2.1% respectively.
Ford released monthly sales figures for October showing the automaker sold 175,584 vehicles in the US. That represents a 1.6% increase compared to the same month last year.
The growth rate tells an important story. Ford’s year-to-date sales had been climbing at a 7% pace heading into October.
The October slowdown suggests momentum is shifting. The company now faces headwinds that weren’t as strong earlier in the year.
Electric vehicle sales took the biggest hit. Ford sold just 4,709 EVs in October, down 25% from October 2024.
This marks the first full month without the federal $7,500 EV purchase tax credit. President Donald Trump’s tax and spending bill eliminated the credit.
September painted a very different picture. Ford moved 11,712 EVs that month, up 85% year-over-year, as buyers rushed to claim the tax credit before it expired.
The September surge pushed EVs to a record 12% of new car sales in the US. Industry watchers knew that spike wouldn’t last.
Pickup Trucks Keep Ford Afloat
Pickup truck sales provided a bright spot in the October numbers. Ford sold 105,771 trucks, up nearly 5% from last year.
The Ranger and Maverick models drove much of that growth. These smaller trucks have found a sweet spot with buyers looking for capability without the size of a full F-Series.
Speaking of F-Series, sales rose just 1% year-over-year in October. Coming into the month, F-Series sales had been up 13% for the year.
Ford is dealing with supply chain problems after a fire at a Novelis plant in New York. The facility supplies aluminum and other materials critical to truck production.
Stock Performance and Competitor Impact
Ford stock traded down 1.2% in early trading Monday to $12.98. The S&P 500 and Dow Jones Industrial Average moved in opposite directions, up 0.4% and flat respectively.
Despite the Monday decline, Ford shares are up 30% year-to-date. The stock traded below $9 in April after Trump announced sweeping tariffs on US trading partners.
The tariff impact turned out less damaging than feared. Ford has managed to navigate the trade policy changes better than many analysts expected.
Other EV makers felt pressure from Ford’s October numbers. Rivian stock fell 0.8% while Lucid dropped 2.1% in early trading.
Tesla stock actually rose 0.8% despite the weak EV sales data. Investors are focused on Tesla’s artificial intelligence projects and robotaxi plans rather than vehicle sales.
For Ford, the EV sales decline isn’t as painful as it might seem. The company loses money on every electric vehicle it sells.
A drop in EV sales actually helps near-term profitability compared to traditional vehicle sales. Ford has joined General Motors and Stellantis in pulling back from aggressive EV expansion plans.
All three Detroit automakers are now pivoting back to their gasoline-powered models. The October sales data from Ford shows why that shift is happening.
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