MW These numbers show just how rough the EV comedown has been. But there's one bright spot.

By William Gavin

Automakers are betting on hybrids as they cope with an EV slowdown

Ford sold only 4,247 all-electric vehicles last month.

The loss of key electric-vehicle tax credits is still hurting automakers. That pain could linger, but there's a lone bright spot for the industry: Hybrid sales are surging.

First, the bad news. Ford Motor Co. $(F)$ said Tuesday that it sold just 4,247 all-electric vehicles last month, a nearly 61% decline from the 10,821 units the Detroit automaker delivered in November 2024. That steep hit stems from poorer sales of each of Ford's EV models.

See more: Ford can't 'walk away' from EVs if it wants to thrive, says its CEO

Sales of Ford's most popular EV, the Mustang Mach-E SUV, dropped by more than 49%, while deliveries of the E-Transit van took an 81.7% hit compared with a year earlier. Just 1,006 F-150 Lightning pickup trucks were sold last month, which reflects a 72.4% year-over-year decline as Ford reportedly considers axing the model.

At the same time, Ford is selling more hybrid vehicles. The Detroit automaker has delivered more than 206,000 hybrid vehicles through November, a 19.4% increase compared with the same 11-month period in 2024. It sold 16,301 hybrids last month, up 13.6% from a year before.

Part of that dynamic is because hybrids are typically viewed by consumers as an attractive alternative to expensive all-electric vehicles, since they are more eco-friendly than traditional gas-powered cars. In the wake of the expiration of the U.S. government's $7,500 tax credits for EVs, some automakers are also putting hybrids into focus.

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"We thought we were going to leapfrog the hybrids, but we can't," Kjell Gruner, CEO of Volkswagen Group of America, said at an October Reuters conference when discussing his company's plan to focus on EVs. "We're all in" on hybrids, he added.

That's part of why Toyota Motor Corp (JP:7203) plans to invest heavily to boost hybrid production in the U.S. over the next five years. Honda Motor Co. (JP:7267) also plans to double down on hybrids in the U.S., with a platform designed for large-scale vehicles.

Ford is "prioritizing hybrids across our lineup, including the development of extended-range hybrid options," CEO Jim Farley said on his company's third-quarter earnings call.

Hyundai Motor North America said Tuesday that U.S. sales of its Ioniq 5 SUV and Ioniq 6 sedan more than halved in November compared with a year earlier. Kia America Inc. also reported steep declines in sales of its electric SUVs: the EV9 and EV6.

Executives at both companies owned by Hyundai Motor Co. (KR:005380) touted their hybrid lineups. Randy Parker, the chief executive at Hyundai's North American business, also noted that the brand hit a new monthly record for hybrid sales, which grew 42%.

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-William Gavin

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December 02, 2025 14:18 ET (19:18 GMT)

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