Posted on 10/22/2024 12:05:12 PM PDT by Red Badger
A mysterious "cooling EV sentiment" has affected nearly every automaker, and even Ford’s once white-hot electric pickup truck may be starting to feel the burn. As dealers struggle to sell remaining 2024 Ford F-150 Lightning models, Ford is inventing new ways to move metal. One way is by introducing Retail Replenishment Centers (RRCs), locations dedicated to holding inventory to manage flooring costs and space for dealers. Ford is enticing dealers to “buy now,” and dealerships can earn up to $22,500 per month by ordering trucks from the RRC.
Ford hopes to move more electric trucks with dramatic dealer incentives
According to a new memo circulating the web, Ford is offering dealers up to $1,000 per unit when they restock their Lightning inventory via the RRC. But, that figure creeps up to $1,500 each when the dealer orders nine or more units – up to a maximum of 15. Since Ford has offered to pay retroactively to the first unit, that means a total of $22,500 is sitting on the table.
The program will run from October 15 until November 15 of this year, and Ford says it’s a win-win situation. Dealers can save space while still offering shoppers the same or more flexibility in the model they choose. It could backfire; some dealerships may take advantage of the rebate only to find that it simply doesn’t make sense to normally have the Lightning in stock. That could diminish choices for shoppers – and competition for Lightning-stocked Ford dealers.
Almost every 2024 Ford F-150 Lightning is eligible for the rebate
No need for dealers or shoppers to pick and choose, either. Eligible trim levels include the XLT, Flash, Lariat, and Platinum trim levels of the 2024 Ford F-150 Lightning. That’s every trim level that Ford currently offers, sans the work-truck spec F-150 Lightning Pro. As the least-expensive trim in the Lightning stable, it’s currently reserved for fleet sales – and not generally eligible for retail sale.
Limited Lightnings on the lot could be a bad thing
There are potential downsides to this strategy. Ford dealers might realize that having one or two Lightnings on the lot is more than enough. So, customers might have a lot more limited options when arranging test drives. Potential customers that want to touch and feel the exact product before buying may be driven elsewhere, too. Generally, the pros should outweigh the cons - driving dealers to offer more attractive pricing and hopefully motivating dealers behind the times to start pushing EVs a little more seriously.
The extra rebate makes a 2024 Ford F-150 Lightning an even more attractive proposition. As of this writing, 2024 Ford F-150 Lightning offers are already extensive. Ford offers 0 percent financing for up 60 months – and a very competitive 1.9 percent for 72-month terms. That’s nearly unheard of, thanks to where today’s interest rates currently sit. Customers that lease don’t really have the same incentives on hand, but they’d probably be happy to save the extra $1,000 or $1,500 where they can. They also still benefit from Ford's commitment - the “Ford Power Promise” - to cover install costs on Level 2 chargers for EV buyers.
Final thoughts
Paying dealers to take vehicles usually is not a very good sign. But it’s important to take a look at the full picture. Ford sold a record number of EVs in Q3 of 2024. Their EV sales expanded 45 percent year-over-year, making them second only to Tesla in US EV sales for the year. Perhaps they’re looking to keep the gravy train rolling in the face of – at least what’s being touted as – waning consumer sentiment. Or, they’re just making room for the 2025s – at any cost. Whatever the case, it might be the best time yet to pick up a Lightning if you’re looking.
Ford has this kind of money how?
Undoubtedly, some form of government handout either over or under the table.
“Ford has this kind of money how?”
A $1000 incentive is peanuts.
That still leaves them $55k in the hole on each one!
List price for the F-150 Lightning is around $70,000, so $1,000 per vehicle isn't out of line as far as dealer incentives go.
It’s interesting that the incentive is directly to the dealer, rather than the buyer. I don’t think it’s unusual, though.
Speaking of money a couple I know built a McMansion they couldn’t afford near the Ford Blue Oval City in Tennessee.
The plant is to make batteries and electric cars.
Their reasoning is if they put all their money in a giant McMansion the value will only go to the moon because of the battery plant and all the new, high paying jobs there. Then they can sell the house and retire.
Now much of the building and planned operations at this plant have been suspended.
Oops.
So Starbuck moms drive pickups?
Lots of women drive pickups. My wife loves her RAM 1500.............
NO SALE!
Still NO!
“The plant is to make batteries and electric cars….
…Their reasoning is if they put all their money in a giant McMansion …”
I can honestly say that I’d have seen a big problem with this clever plan.
Christmas/Thanksgiving is coming. A free fruit cake with every Lightning.
At least they’d get one good product.
Some plans are better than others...
With the extended range battery at 131kWh, lets say you pull up to a charger with 20% left and charge up to 80%. That's 79 kWh. You'd be good to get out of there in half an hour at the fastest chargers. Driving 75 mph on the highway (with no load), you'd probably get a real world range of 170 miles before you stop another 30 minutes to charge. One of many reasons a full size EV pickup is impractical.
As opposed to an EV car (smaller battery, better miles per kWh) charging in 15 minutes every 200 miles. A little pre-planning with trips with plenty of chargers (i.e. up and down the eastern seaboard like I did this past summer), means driving and charging an EV is about as fast as driving and filling up a gas car (at least as often as my wife wants to stop and stretch her legs LOL). So we're able to compare charging prices with gas prices on those trips and pick which of our two cars is cheapest to drive (EV car or gas pickup).
But even with that, an EV is practical only if you drive enough miles for the gas savings to be worth it, can charge at home, have two cars so that one car can be a gas car for the times an EV won't do, and don't drive much in the northern cold winter. Anyone who doesn't meet all of those criteria shouldn't consider an EV. That's from a free market and practical standpoint. Not from the warmageddon-cult-government-should-incentivize-or-force-everyone-to-drive-EVs perspective like the Dims do.
While the design appearance is interesting, it is still impractical for what I need.
Does she go to Starbucks every morning?
Never has as far as I know!...................
Does she have 10 cats?
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