About half of Ford dealers have opted to sell EVs in 2024. Ford’s EV dealer program has around 1,550 participants. That’s down from around two-thirds around this time last year.
Ford confirms 50% of dealers will sell EVs in 2024
Ford’s CEO Jim Farley revealed last December that 1,920 dealers, or around two-thirds of its network, joined its program.
According to the latest information, several dealers have opted out. Ford spokesperson Marty Gunsberg told the Detroit Free Press that the number is now just over 50%.
The other half will continue selling ICE and hybrid vehicles. Gunsberg explained, “EV adoption rates vary across the country, and we believe our dealers know their market best.” He confirmed, “Enrollments for 2024 are just over 50% of the network.” That means 86% of the US population will be within 20 miles of a Ford dealership that can sell or service an EV.
Ford eased requirements for its EV dealer program in January following “changes in the market.” The changes include fewer L2 chargers required and an extended installation deadline.
You can expect to start seeing advertising at Ford dealers that sell EVs. Ford said this will help EV drivers find fast chargers.
Gunsberg confirmed several dealers have opted out of Ford’s voluntary Model e program. The initial Model e program will run from 2024 to 2026.
Ford dealers can choose from two tiers: Certified and Elite. Initially, Certified dealers were required to invest $500,000 for one public DC fast charger. For around $1M, dealers could opt for the Elite tier, which includes another fast charger, demo units, a presence on Ford.com, and more.
Following backlash, Ford reduced the required charging stations and upfront investments.
Ford’s dealer program will run again in 2027 as Ford expands its lineup, including another EV pickup and a three-row electric SUV.
The news comes after Automotive News reported that 50% of Buick dealers have chosen buyouts rather than sell EVs. GM gave Buick dealers a choice last year – join or voluntarily give up their franchise.
GM will have around 1,000 Buick dealers at the end of the year. That’s down 47% from 1,958 in January. Buick plans to go all-electric by 2030.
Ford dealers opting out of selling EVs comes as the automaker slows investments in electrification.
The company is delaying around $12B in EV spending. CFO John Lawler confirmed Ford has “taken out some Mustang Mach-E production” in October. Lawler said, “We are also slowing down several investments, including making a decision with SK On to delay the second BlueOval SK JV battery plant in Kentucky.”
This comes despite Ford hitting a new EV sales record in November, with the F-150 Lightning becoming the top-selling electric truck through the first 11 months of the year.
Ford said it is now the second best-selling EV brand in the US, behind Tesla. The Lightning will face new competition in 2024, with Tesla ramping deliveries of its Cybertruck and GM launching its Chevy Silverado EV RST trim. GM will also introduce the GMC Sierra electric pickup.
To keep up, Ford added a new Flash trim (pictured above) to the 2024 Lightning lineup. The 2024 Ford F-150 Flash has a tech-loaded interior, extended range battery with up to 320 miles range, Ford’s Tow Tech package, and a heat pump, starting under $70K.
FTC: We use income earning auto affiliate links. More.