EVs Slump, Hybrids Surge in November Sales Reports
U.S. new-vehicle sales reported to the Automotive News Data Center show slowing EV sales in the wake of an expired federal tax credit, offset by steady demand for trucks and hybrid vehicles.
Toyota and Kia both reported a 2.7% year-over-year improvement. But sales declined for Honda (-15.3%), Volvo (-10%), Subaru (-9.7%), Hyundai (-2%), Mazda (-1.5%) and Ford (-0.7%).
Automotive News’s David Phillips notes Ford’s EV sales fell 61% from November 2024, led by a 72% drop for the F-150 Lightning, but hybrids were up 14%. “Overall, the automaker’s utility vehicle sales slid 4.9% while truck sales were flat.”
Citing J.D. Power and GlobalData, Phillips reports the average factory discount toward a new-vehicle purchase was $3,211 in November, up 13.2% from October but down 3.7% from a year ago.
