Legacy automakers’ EV slump persists

Ford reported a 31% year‑over‑year decline in electrified vehicle sales in April (including a 25% drop in full EVs) and a 61% decline year‑to‑date for 2026 versus 2025, with steep falls for the F‑150 Lightning and Mustang Mach‑E and the company reintroducing heavy purchase incentives. The numbers contrast with competitors (Toyota’s bZ series sold roughly as many units in Q1 as Ford sold EVs in the first quarter), suggesting demand is concentrated and uneven across models and brands. — Falling EV sales at a major U.S. automaker matters for economic policy, climate goals, labor markets, and industrial strategy because it changes the political and commercial case for subsidies, regulation, and manufacturing plans.