Ford will slash manufacturing of the electrified F-150 Lightning by half in 2024
EV demand has been slower than many thought, owing to high pricing and financing rates. However, sales of the F-150 Lightning have been gradually increasing this year.
Ford Motor Company plans to decrease production of its all-electric F-150 Lightning pickup truck in half next year, a huge turnaround after considerably increasing factory capacity for the electric car in 2023.
According to a person familiar with the decision, the revised production plans call for an average volume of roughly 1,600 F-150 Lightnings per week at Ford’s Rouge Electric Vehicle Center in Dearborn, Michigan, beginning in January. The carmaker previously intended to build around 3,200 automobiles each week on average.
Ford officials have stated that the carmaker will match output to demand while it cancels or delays $12 billion in anticipated EV expenditures.
EV demand has been slower than many thought, owing to high pricing and financing rates. Automakers are attempting to reduce the price of developing all-electric vehicles while reconsidering future production and product plans.
In 2023, sales of the F-150 Lightning have consistently grown, with a monthly record of around 4,400 sold in November. Through November, the business had only sold 20,365 of the vehicles, a 54% increase over the previous year.
