Ford Motor Co. is reportedly considering ending production of its all-electric F-150 Lightning pick-up truck.
Media reports say senior executives at Ford are giving serious consideration to pulling the plug on the F-150 Lightning due to growing financial losses and weak consumer demand.
Ford’s management team has said that they are reevaluating their electric vehicle strategy amid tepid sales and shifting market conditions.
Earlier this year, Ford had paused production of the F-150 Lightning pick-up truck due to a supply chain disruption caused by a fire at an aluminum plant of one of its suppliers.
The F-150 Lightning has not lived up Ford’s expectations. The electric truck initially received more than 200,000 reservations but many of them failed to convert to sales.
F-150 Lightning sales this year through the end of October totaled 24,577 vehicles. Since going on sale in 2022, Ford has sold less than 100,000 of the fully electric trucks.
Somewhat ironically, the gas-powered F-150 pick-up truck has consistently been the bestselling vehicle in North America since 1976.
However, the F-150 Lightning is not the only electric vehicle whose sales have disappointed. Ford said earlier this year that it has lost billions of dollars in recent years on its electric vehicles.
Sales of electric vehicles got more challenging after the Trump administration recently ended consumer credits of up to $7,500 U.S. for the purchase of an electric vehicle.
F stock has risen 36% this year to trade at $13.12 U.S. per share.
Related Stories
