Ford has had a stellar year in terms of electric vehicle (EV) sales, with the fourth quarter of 2024 being the best ever for the company. In light of this success, Ford has decided to extend its “Power Promise” program, which includes a complimentary home charger for new EV buyers. This move comes after the F-150 Lightning and Mustang Mach-E broke new sales records in 2024.
The total US sales for Ford saw an 8.8% increase in the fourth quarter, with a total of 530,660 vehicles sold. This growth contributed to Ford’s full-year 2024 sales surpassing 2.07 million, a 4.2% increase from the previous year and double the estimated industry average growth rate of 2%. The surge in sales was largely driven by higher electrified vehicle sales, including electric vehicles (EVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs). Ford sold nearly 285,600 electrified vehicles in 2024, marking a 38% year-over-year increase, surpassing both GM and Stellantis in this category.
Among Ford’s fully electric vehicles, the Mustang Mach-E, F-150 Lightning, and E-Transit all achieved record sales in 2024. The company sold a total of 97,865 EVs in 2024, with a record-breaking 30,176 EVs sold in the fourth quarter alone. The Mach-E saw its best sales quarter to date, with 16,119 units sold in Q4. While F-150 Lightning sales dipped slightly in Q4, the overall sales for electric pickups increased by 38% in 2024. The E-Transit van also experienced a surge in demand, with a 64% increase in sales in 2024.
To further incentivize EV adoption, Ford is extending its “Power Promise” program, which offers new EV buyers a free Level 2 home charger and covers the cost of standard installation. The program aims to showcase the benefits of driving an EV, such as waking up to a fully charged vehicle every morning, an 8-year, 100,000-mile battery warranty, 24/7 live support, and roadside assistance.
Looking ahead, Ford faces competition from other automakers entering the EV market in 2025. With the delayed release of Ford’s three-row electric SUV, competitors like Kia, Hyundai, Volvo, and Rivian have an opportunity to capitalize on the growing demand for EVs. Hyundai and Kia, in particular, set new US sales records in 2024 and are ramping up production of new EV models.
As more EVs hit the market, including offerings from Chevy and Honda, Ford will need to maintain its momentum to stay competitive in the evolving landscape of electric vehicles. It will be interesting to see how Ford navigates the challenges and opportunities in the electric vehicle market in the coming year.
