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.
Meanwhile,the stupid bastards are still trying to figure out how to build a platform that runs on gasoline without recalls. Never again.
Dealers have F150’s coming out their ears.
Wow, $20k off a $100k truck is an $80k bargain in my book. I’ll take a dozen.
OMG 100K for an F150 truck ARE YOU KIDDING ME???
oh no Dodge 1500 is even more.
It used to be that if you were a loyal party voter you would get a free turkey. During the winter you might get a free bucket of coal. Parties don’t do that anymore.
Months ago, Audi rolled out discounts on EV leases.
Podcaster explained: Dealer got a huge discount if he could move minimum 5 high end units. Total net cost split between 5 leasees.
Wait for the customer lease deals
Gravy train? I think that train has derailed!
Google search: ford loses how much for electric vehicles?
Ford is losing a significant amount of money on electric vehicles (EVs), and is expected to lose between $5 billion and $5.5 billion in 2024:
First half of 2024: Ford’s EV division lost $2.5 billion in the first half of 2024.
First quarter of 2024: Ford lost $1.3 billion on EVs in the first quarter of 2024, or $132,000 per vehicle sold.
Per vehicle: Ford is losing nearly $50,000 per EV sold.
You know this is some sort of communist-loving government program. Stealing taxpayers’ money for this kind of crap is very much the motis operandi of WDC pols and their buddies. Only brain-washed, smooth-brain nitwits want electric vehicles...especially trucks.
You think wrong as usual.
“OMG 100K for an F150 truck ARE YOU KIDDING ME???”
He said $70k, not $100k.
“Wow, $20k off a $100k truck is an $80k bargain in my book. I’ll take a dozen.”
It is $1k off a $70k truck and only for the first 15 ordered.
“Only brain-washed, smooth-brain nitwits want electric vehicles.”
There are Freepers here that own EV’s ...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.