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When federal EV tax credits disappeared on September 30, after Congress ended them under Trump’s legislation, Americans spoke with their wallets. Mustang sales surged 78.6% compared to November 2024.¹ Meanwhile, EV sales cratered.
The Mustang Mach-E fell nearly 50% to 3,014 units.¹ F-150 Lightning sales plunged 72% to just 1,006, and the E-Transit collapsed more than 80% to a mere 227 vehicles.¹
For years, Democrats claimed Americans were desperate for electric vehicles. The market just proved them wrong. Without $7,500 in taxpayer subsidies, demand vanished. Consumers chose a 61-year-old muscle car over pricey EV experiments — and the choice was decisive.
Ford’s gamble on EVs has been costly. While gas-powered vehicles raked in profits, the company’s electric division burned billions.
The Biden-Harris administration demanded 56% of new vehicle sales be electric by 2032.² Automakers were forced to chase government mandates nobody wanted. Ford’s EV division lost $1.4 billion in Q3 of 2025 alone.³ Total EV losses hit $5.1 billion in 2024, after $4.7 billion in 2023.³ And this year? Analysts expect a staggering $5.5 billion in EV losses.³ Over three years, that’s more than $15 billion flushed chasing Washington’s green agenda.
Meanwhile, Ford’s gas-powered cars kept generating steady profits. The contrast couldn’t be sharper. Democrats pushed a fantasy that cost American automakers billions while taxpayers subsidized luxury vehicles for the wealthy.
EVs also face real-world challenges. Cold weather kills range. Charging stations are scarce outside cities. And even with $7,500 in credits, most working Americans couldn’t afford them.
Polls confirm the public isn’t buying it. A Gallup survey in March found 48% of Americans wouldn’t even consider an EV — up 7% from the year before.⁵ A McKinsey study revealed 46% of EV owners plan to return to gas-powered cars.⁵ Even buyers who embraced EVs are abandoning them.
The lesson is clear: Americans reject forced transitions. Subsidies created artificial demand that evaporated when the money stopped. Ford’s November numbers confirmed that green energy mandates were built on taxpayer-funded illusions.
Trump moved quickly to undo the Democrats’ EV overreach. On day one, he rescinded executive orders forcing EV adoption.⁶ EPA Administrator Lee Zeldin announced plans to reconsider costly emissions standards.⁷ Congress overturned waivers that let California ban gas-powered vehicles.⁸
The takeaway is simple: Americans want vehicles that are affordable, reliable, and practical. They don’t want overpriced electric experiments dictated by bureaucrats in Washington.
Ford’s billions spent chasing government mandates delivered one undeniable result: a 61-year-old Mustang almost outsold their entire EV lineup. That’s not close — it’s a resounding rejection of Democrats’ EV agenda.
Consumers chose freedom and value over Washington mandates. And Ford’s accountants are paying the price — one billion-dollar loss at a time.
