Ford's F-150 Lightning Faces Uncertain Future Amidst Shifting EV Demand

Ford is reportedly contemplating a significant shift regarding its F-150 Lightning electric pickup truck, a move that could see the model scrapped entirely. This consideration comes despite the F-150 Lightning being the best-selling EV pickup in the U.S. last quarter. The potential decision reflects broader challenges Ford is facing in its electric vehicle strategy, including softening consumer demand and the financial viability of its EV offerings.

Key Takeaways

• Ford is considering discontinuing the F-150 Lightning due to insufficient demand.

• The F-150 Lightning was the top-selling EV pickup last quarter.

• The automaker is experiencing financial losses on the electric truck.

• Ford has been scaling back its overall EV commitments.

Shifting EV Ambitions

Ford's journey into the electric vehicle market has been marked by ambition, with the company initially seen as a leading legacy automaker in electrification. However, recent quarters have seen a noticeable pullback in its EV strategy. This recalibration appears to be driven by a combination of factors, including the expiration of the $7,500 EV tax credit, which may have reduced consumer appeal for electric vehicles, and a general cooling of interest in Ford's electric offerings.

Demand vs. Production Costs

A report from The Wall Street Journal indicates that an internal sentiment at Ford suggests "the demand is just not there" for the F-150 Lightning. While the truck has achieved sales success, it is reportedly not meeting financial expectations. Figures from earlier in the year suggested that Ford was incurring substantial losses on each F-150 Lightning sold, potentially ranging from $100,000 to $132,000 per vehicle. This financial strain, coupled with the strong and consistent sales of its traditional F-Series gasoline-powered trucks, is prompting a re-evaluation of the Lightning's future.

No Official Announcement Yet

It is important to note that Ford has not made any official public statements regarding the future of the F-150 Lightning. The current considerations are based on internal discussions and reports. The company's established F-Series lineup remains a global powerhouse in the truck market, and the F-150 Lightning was designed to mirror the success of its combustion-engine counterpart with various trim levels catering to different consumer needs. However, the economic realities of producing and selling the electric version appear to be a significant hurdle.