Ford, Hyundai Report Large Declines In October EV Sales Automotive Weekly

• Published date: 13 November 2025
• Law Firm: Crowe MacKay LLP
• Author: Crowe MacKay LLP

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Ford, Hyundai report large declines in October EV sales

Sales of all-electric vehicles collapsed last month following the end of up to $7,500 in federal incentives for purchasing an EV, several automakers said Monday. Ford Motor, Kia, Hyundai Motor and Toyota Motor reported massive declines in EV sales as many buyers pulled ahead purchases before the credits ended under changes by the Trump administration. Ford, which ranked third in U.S. EV sales through the third quarter, reported a 25% drop in its year-over-year all-electric October sales. That included a 12% decline for its Mustang Mach-E crossover and a 17% fall for the F-150 Lightning.

Source: CNBC

Younger buyers are rewriting retail: dealers take note

Consumers are changing how they buy, and those shifts extend to vehicle shopping. A new Harris Poll study, Challenger Retail 2025, shows that shoppers are becoming more careful and value-conscious as they adapt to higher costs and economic uncertainty. For car dealers, that shift matters. The study found that 43% of shoppers plan to switch to lower-priced products, and 26% are prepared to change retailers when they do not see fairness or trust in the offer. That suggests a buying environment where loyalty is more fragile, and transparency and customer experience have greater influence than incentives or promotions.

Source: Canadian Auto Dealer

Toyota set for second consecutive quarterly profit decline

Toyota is poised to report a 25% year-on-year drop in operating profit for the July-September quarter, falling to an estimated 863.1 billion yen ($5.72 billion), according to an average forecast from eight analysts surveyed by LSEG. If confirmed, this would mark the automaker's second consecutive quarterly profit decline and its weakest quarterly performance since the fourth quarter of fiscal 2022. The decline comes despite robust global sales of Toyota and its luxury Lexus brand vehicles, which reached 7.8 million units in the first nine months of 2025, up 5% from a year earlier. U.S. sales, Toyota's largest market, rose 8% over the period, fueled by strong demand for high-margin hybrid vehicles. China and India also posted gains of 5% and 12%, respectively.

Source: CBT News

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