Ford $13 Billion EV Losses Put F-150 Lightning’s Future at Risk as Sales Plummet

Ford $13 Billion EV Losses Put the F-150 Lightning’s Future at Risk

Ford $13 Billion EV Losses since 2023 are casting a dark shadow over the future of the F-150 Lightning. Sales of the battery-powered pickup have plummeted sharply following the end of the $7,500 federal EV tax credit, and a recent fire at an aluminum supplier has led Ford to “ponder whether or not it should restart production.” The struggling EV truck market, combined with rising sales of ICE-powered trucks, highlights a major challenge for Ford, despite its plans for a new, more affordable electric pickup.

F-150 Lightning’s Future in Limbo

The Ford F-150 Lightning, once a steady seller, is now facing an uncertain future as demand wanes and financial losses mount. (Ford $13 Billion EV Losses)

• Sales Decline: Sales of the F-150 Lightning fell sharply after the federal $7,500 EV tax credit scheme for EVs came to an end.
• Production Halt: A report from The Wall Street Journal claims Ford is pondering whether or not it should restart production of the Lightning following a fire in one of its aluminum suppliers.
• Financial Losses: Ford has lost $13 billion due to EV sales since 2023.
• Dealer Reluctance: Demand for the Lightning is low, and dealers are not stocking them to avoid piling on inventory.

The Contrast: ICE Trucks Soar as EV Pickups Struggle

Ford’s traditional internal combustion engine (ICE) trucks are experiencing a resurgence, directly contrasting the struggles of its EV offerings.

• ICE Production Ramps Up: Ford has ramped up production for its ICE-powered trucks, adding a third shift to the regular F-150 and Super Duty models.
• October Sales Figures: In October, 66,000 ICE-powered pickups were sold, compared to just 1,500 Lightnings finding new homes.
• Broader EV Pickup Market Woes: The struggles of the F-150 Lightning reflect a broader trend in the EV pickup market:
  • Chevrolet Silverado EV and GMC Sierra EV: “Haven’t exactly lit up the sales charts,” with GM selling just 1,800 units of their battery-powered pickups combined.
  • Stellantis: Pulled the plug on a fully-electric Ram 1500, opting instead for a range extender version.
  • Rivian: Has slashed jobs to save costs.
  • Tesla Cybertruck: Sales have reportedly “plummeted by around 50 percent year on year.”

Ford’s Next Steps: A $30,000 Electric Pickup

Despite the significant challenges, Ford is not abandoning the electric pickup segment entirely.

• Future Plans: While the F-150 Lightning’s future is in doubt, Ford is “in the process of rolling a $30,000 pickup down the line.” This indicates a strategic shift toward more affordable EV trucks.

Final Thoughts

The massive $13 billion in EV losses and the plummeting sales of the F-150 Lightning underscore the immense challenges automakers face in the transitioning EV market. The abrupt halt in the federal tax credit and broader market disinterest have left the segment bleeding money. Ford’s decision to “restart production ‘at the right time’” for the Lightning, coupled with plans for a cheaper electric pickup, signals a crucial reassessment of its EV strategy as it navigates this turbulent period.

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