Oshkosh, Ford Stocks In Focus As Trump May Reportedly Nix Existing EV Deals With US Postal Service

Ford Motor Co. and Oshkosh Corp. are under the spotlight following a report that the incoming Trump administration may seek to cancel the United States Postal Service’s (USPS) contracts for electrifying its delivery fleet. 

Reuters reported Friday that Trump’s transition team is reviewing how to unwind these multi-billion-dollar agreements as part of a broader effort to roll back electric vehicle (EV) initiatives.

USPS, which received $3 billion from the 2023 climate bill for its EV program, plans to purchase 66,000 electric delivery vehicles by 2028, creating one of the largest EV fleets in the nation. 

Oshkosh is contracted to deliver 45,000 of these vehicles, while the remaining EVs are expected to come from automakers like Ford.

The move to nix these deals could reportedly face significant legal hurdles, as USPS operates as an autonomous federal agency with its own governing board. 

However, Reuters says Trump’s team is prepared to test the limits of executive authority to implement sweeping changes.

Oshkosh shares plunged over 7% to a monthly low on Friday, with Stocktwits sentiment turning ‘bearish’ amid a spike in message volume.

Ford shares pared most of their morning gains following the report. 

Despite the potential hit, retail sentiment on Stocktwits remained ‘bullish,’ reflecting confidence in Ford’s diverse revenue streams, including passenger vehicles, which constitute the largest portion of its business.

Oshkosh, with a $7 billion market cap, focuses on purpose-built vehicles across its Access, Defense, and Vocational segments such as fire trucks, garbage trucks and postal vans.

“New vehicles are in service today, which have received overwhelmingly positive feedback from Postal Carriers, and we remain on track to meet all delivery deadlines,” Oshkosh said in an emailed statement to Stocktwits, adding that it is “fully committed to our strong partnership with the USPS and looks forward to continuing to provide our Postal Carriers with reliable, safe, and sustainable modern delivery vehicles.”

Ford, valued at $42 billion, is less dependent on government EV contracts but continues to face broader industry challenges.

The potential cancellation highlights a contentious shift in U.S. federal policy toward EVs, as Trump’s team aims to dismantle Biden’s climate-driven initiatives. 

Oshkosh stock has lost over 3% year-to-date, while Ford’s shares have declined more than 13% amid industry-wide challenges.

Editor's note: This story was updated with Oshkosh's official response.<

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