Shifting Gears: Ford Trims Down F-150 Lightning Production Amid Changing EV Market Dynamics

Production Cut Due to Weaker Demand

Ford is reducing the production of the F-150 Lightning electric pickup after experiencing weaker-than-expected electric vehicle sales growth​​.

Impact on Employees

Approximately 1,400 employees at Ford's Rouge EV plant will be affected, with around 700 being transferred to its Michigan Assembly plant and others repositioned to different southeast Michigan plants​​.

Shift in Manufacturing Focus

Ford is also boosting the production of its gas-powered Bronco and Raptor pickups, indicating a strategy that includes a mix of gas-powered, hybrid, and electric vehicle production​​.

Adjusted Production Targets

Originally aiming for an annual production capacity of 150,000 F-150 Lightnings, Ford has now halved this target to better align with market demand​​.

Change in Consumer Preferences

The production shift cut reflects a mismatch between what automakers are trying to sell and what consumers currently want to buy, with a noted shift away from pure battery EVs towards hybrids and traditional internal combustion engines​​.

Cancellation of Dealer Stock Orders

Ford recently cancelled some dealer stock orders for the Lightning, which are orders placed by dealers to have inventory readily available for customers​​.

Increase in Traditional Vehicle Production

Alongside the cutback in electric truck production, Ford is increasing the production of its gas-powered vehicles, adding 900 jobs at another Michigan plant for this purpose​​.

Electric Vehicle Market Trends

Despite the cutback, electric vehicle sales overall grew by 47% last year, reaching a record 1.19 million units, though this growth didn't meet the ambitious plans of major automakers​​.

Price Adjustments for the Lightning

Ford is making adjustments to the pricing, production, and trim packages of the 2024 F-150 Lightning, with prices starting at $54,995, which is $5,000 more than the 2023 model​​.

Introduction of New Trim

A new trim, the 2024 Ford F-150 Lightning Flash, has been added to the lineup, featuring up to 320 miles range, a loaded tech interior, and various additional packages, starting at $73,495​​.