Ford Motor(F) Fox Business·2025-01-06 20:45Ford Mustang Sales Trends - Traditional Ford Mustang sales declined by 9.5% in 2024, with 44,003 units sold compared to 48,605 in 2023 [1] - Mustang Mach-E sales increased by 26.9% in 2024, reaching 51,745 units, surpassing traditional Mustang sales [2] Ford's EV Performance - Ford's total electrified vehicle sales, including hybrids and fully-electric vehicles, reached 285,291 units in 2024, a 38% increase from the previous year [2] - Ford's EV sales outperformed competitors GM and Stellantis in 2024 [2] Ford's EV Strategy and Initiatives - Ford attributed part of its EV sales growth to the Ford Power Promise program, which includes a complimentary home charger and EV support [4] - The company extended the Ford Power Promise offer through March 31, 2025, to capitalize on growing EV interest [4] Adjustments to Ford's Electrification Strategy - Ford revised its electrification strategy in 2024 due to slower-than-anticipated sales, including canceling plans for a new electric three-row SUV [6] - The company temporarily paused production of the F-150 Lightning, extending the pause from late November 2023 to early January 2024 [6] Financial and Operational Challenges - Ford projected a $5 billion loss on its EVs in 2024, with CEO Jim Farley emphasizing the need to reduce production costs to improve EV sales [7] Vehicle Recalls - Ford recalled nearly 400,000 trucks, SUVs, and other vehicles for various reasons, though specific details were not provided in the content [3]