Posted on 07/18/2023 11:52:45 AM PDT by Red Badger
On Monday, Ford announced significant price cuts for all versions of its electric F-150 Lightning pickup. The cheapest version of the Lightning will now start at about $50,000, a roughly $10,000 cut. All versions of the EV will get price cuts of at least $6,000 as Ford works to boost production this fall.
Ford claims their efforts to boost production and lower costs for battery minerals paid off.
Ford suggests they can’t meet the demand, but there is an EV bubble right now, and many unsold EVs are piling up on car lots. Companies other than Tesla have produced too many EVs and must move them. It’s supply and demand.
The company had increased the Lightning’s prices several times since its 2021 debut, citing supply constraints and sharply higher prices for the minerals used in the electric truck’s batteries. Ford has worked to increase production of the truck in recent months, with factory upgrades expected to triple its output set to be in place by fall.
CEO Jim Farley’s effort to boost production hasn’t been a smooth one. Ford sold just 4,466 Lightnings in the second quarter after a fire in a just-completed truck in February led it to shut down production for five weeks.
They are cool trucks, but there are issues.
At the time of its 2021 debut, the lowest-priced version of the Lightning – the work-truck Pro trim – was about $40,000. That price was increased several times, hitting about $60,000 in March.
The most expensive version of the Lightning, the extended-range Platinum trim, will now start at about $92,000, down from just over $98,000. [Oh, yippee!]
These EV cars and trucks are expensive, and in this economy, people aren’t going to buy them. They’re also not ready for long distances. Unless you’re talking Tesla, they aren’t selling like hotcakes.
Ping!.............
$50K-$92K to start my grill?
No thanks!
“Ford works to boost production this fall...Ford suggests they can’t meet the demand...”
The bubble will pop and demand will go to zero once all the wealthy virtue-signalers have bought their shiny new toys.
Nobody who does actual work for a living will buy one. They will be playthings for the suburban cowboys who haul some bales of peat moss and planting soil home from Home Depot a couple ties a year.
Hey yo! You be savin’ da ERF!...................
/sarc
Can I get one in diesel?
/sarc
Ford loses $$ on every F-150 Lightning, but hope to make it up in volume...
“Mere...”
Most people who buy Pickups want them to be able to travel 500-600 miles before getting gas. They are NOT going to buy a Pickup that has a range of less than 200 miles and then requires a 2-3 hour charge. Anybody who buys an EV Pickup will very soon be disappointed and will dump it.
Yes, a Diesel Generator in the bed......................
That does not make any sense..................
My neighbor has a truck.
I have never seen him have anything in the bed and it’s never dirty.
The guy wears salmon colored pants.
What a fag…
Ah, but what is the insurance cost difference between a gas and electric Ford truck?
The Walmart stinking public also carries a scent of Epiphany Cologne. It’s fast becoming a monolithic basket of deplorables that ain’t buying what the Beltway is selling.
Cue the SNL bank that makes change…
Because they are not selling.
I expect Ford and GM both to suffer profits this year if not next year as well.
They have to stop producing for EPA mandates and produce most what sells the most, or they will self-destruct.
EEGator got it.
That is the plan.
Destroy a country’s industrial base and you effectively destroy that country................
I brought a brand new Buick 7 years ago for long distances.
It now has 40,000+ on it ..
I use my old Kia Sedona van for around town ...
Why would I want to spend all that money on a vehicle that is useless ???
Id place EVs with yachts and planes, a luxury item ...
Id buy a plane long before I considered an EV ...
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