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Ford's US sales for October rose on the demand for pickup trucks, despite EV decline

Ford reported Monday a 1.6% increase in U.S. sales for October as the demand for pickups offset a decline in electric vehicle volumes.

The U.S. tax and spending bill signed by President Donald Trump last month ended the $7.500 tax credit for new EVs, causing a temporary spike in sales.

Experts in the industry had predicted a drop in EV sales for later this year. Ford's electric vehicles, including the Mustang Mach-E, F-150 Lightning and F-150 Lightning, saw a drop of nearly 25% in sales from last year to 4,709 units.

The demand for Ranger, Maverick and other models helped to boost pickup truck sales by nearly 5%, reaching 105,771 vehicles.

Ford, General Motors, and Stellantis have scaled back their ambitious plans to introduce EVs into the U.S. They are now focusing on their gasoline-powered vehicles.

Ford's total sales for the month increased to 175,584 vehicles, compared with 172,756 units one year earlier. (Reporting from Nathan Gomes, Bengaluru. Editing by Sahal Muhammad)

(source: Reuters)