Posted on 12/12/2023 8:25:28 AM PST by Red Badger
KEY POINTS
* Ford Motor will cut planned production of its all-electric F-150 Lightning pickup roughly in half next year.
* It marks a major reversal after the automaker significantly increased plant capacity for the EV in 2023.
* EV demand has been slower than many expected, as prices and interest rates remain high. But sales of the F-150 Lightning have steadily increased this year.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
DETROIT — Ford Motor will cut planned production of its all-electric F-150 Lightning pickup roughly in half next year, marking a major reversal after the automaker significantly increased plant capacity for the electric vehicle in 2023.
The new production plans call for average volume of around 1,600 F-150 Lightnings a week at Ford’s Rouge Electric Vehicle Center in Dearborn, Michigan, starting in January, according to a source familiar with the decision. The automaker most recently planned to produce roughly 3,200 of the vehicles on average per week.
“We’ll continue to match production with customer demand,” a Ford spokeswoman said Monday.
Ford executives have recently said the automaker will match production to demand, as the company cancels or postpones $12 billion in upcoming EV investments.
The production cuts for the F-150 Lightning were first detailed in a planning memo to suppliers obtained by Automotive News. The memo cited “changing market demand” for the cuts, according to the publication.
EV demand has been slower than many expected, as prices and interest rates remain high. Automakers are working to cut costs of producing all-electric vehicles, while rethinking production and product plans for the years ahead.
Ford spent six weeks earlier this year to increase capacity of the F-150 Lightning at the Michigan plant, which was expected to be capable of producing 150,000 of the all-electric trucks, three times its initial planned output.
Sales of the F-150 Lightning have steadily increased in 2023, notching a monthly record of roughly 4,400 sold in November. The company has only sold 20,365 of the trucks this year through November, up 54% from a year earlier.
Have they run out of airhead Starbuck wives wanting to virtue grandstand?
Why would someone who uses a pickup truck for work buy a EV pickup truck? Do any worksites have charging stations?
F-75s coming down the assembly line.
Only 2 wheels.
Cut it to ZERO; they’re crap and won’t sell. Wake-up, Ford!
If Biden would just mandate all Federal Emp0loyee’s exclusively use Emission Free Vehicles for ALL TRAVEL to and from their respective workplace and any work related travel, they could sell all of them.
“1. shrink battery down size and easy to remove”
With batteries lasting 300k-500k why?
“2. pumping ‘electric’ is as easy as going to a station and exchange said empty and light battery with a filled battery”
Charging at home is easier than going to a station.
A product that no one wants like Kitchen Entrees, Colgate Beef Lasagna 1982 or Ez Squirt Funky Purple Ketchup , Heinz, 2006 , LOL
https://www.youtube.com/watch?v=kDRVi0twEAA
It also no longer qualifies for federal tax incentives in 2024.
I checked the "inflation calculator" at the government's own "bureau of labor statistics" website. The government admits to devaluing the US Dollar by an order of magnitude over my lifetime.
100%
“The government admits to devaluing the US Dollar by an order of magnitude over my lifetime.”
The U.S Dollar has been in a trading range vs. other currencies for many decades. Up and down within a range. So it’s unclear what you mean by “devalued”. Every other monetary metric has done the same thing. If you mean the nominal number of dollars to purchase a given item has increased by a factor of ten and the supply of dollars (income) has increased by the same amount then why does it matter? Minimum wage HAS increased by about a factor of ten during my working lifetime.
Bookmark
And that's what people get upset about.
"A new car costs $XXXXX.XX?!?!?!?! Why, I remember when it cost $XXX.XX!!! We're being ripped OFFF!!! Down with Big Business!!!"
Substitute fuel, groceries, houses, whatever for "a new car".
Never mind that paychecks are also bigger.
Never mind that Big Government, not Big Business, is devaluing the dollar.
It does disincentivize saving and to some extent investing, though ...
Mary Barra stopped production of EV;s at Gm a couple of weeks ago.
TOTAL STOP
IF you ere a LANDLORD & owned a large Apartment complex-—WOULD you be rushing to provide charging stations???
They need to cut the price in half. Who are the geniuses who thought people could pay for $100,000 trucks?
When the Federal $$$ run out, any business needs to adapt or fail.
A German auto manufacturer announced the end of two EV model production. When I decided to research a little further, I discovered that the government subsidies had ceased. There is no ‘market’ for this stuff.
I also remember, about 10 years ago, a new chief executive of one of the big auto companies. After a few weeks on the job, he stated something close to this: “I thought I was going to run a car company. Feels more like a health care manager.” What he was alluding to is the thousands and thousands of retired auto workers. These retirees are receiving $$$ and benefits, but they do not produce one widget. I do not blame the retirees themselves, but any company that agrees to these kind of long-term expenses will have to obtain the money from somewhere. When the recent influx of Federal dollars runs out, they still need to fund the retirees. They have to raise the price of every product in order to fund this retirement system.
Very Interesting!
I read this that they know Biden and his EV mandates are gone.
There are a bunch of videos on YouTube that show stagnant sales of trucks at dealer lots. Ford, GM, Toyota, etc. They are all swamped with expensive trucks that are not selling. And they are ICE trucks. Doesn't matter what price they are, ranging from $51,000 to $131,000 - they can't sell them.
Ford is not only losing money on the F-150 EV trucks but also losing money on the F-150 gasoline trucks. Worse situation over at GM.
DITTO, this being framed an an EV issue may be an effort to deflect the real story of a failing Biden economy.
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.