Ford cuts production of F-150 Lightning pickup
DETROIT
Ford is cutting production of the F-150 Lightning electric pickup after weaker-than-expected electric vehicle sales growth.
While EV sales are growing in the U.S., the pace is falling well short of the industry’s ambitious timetable and many consumers are turning to hybrid vehicles instead.
Ford sold just over 24,000 Lightnings last year, up 55% from 2022. But dealers are reporting slower sales and rising inventories on the electric truck, which starts at just under $50,000.
Electric vehicle sales overall grew 47 percent to a record 1.19 million last year, according to Motorintelligence.com. The EV market share grew from 5.8 percent in 2022 to 7.6 percent last year. But EV sales growth slowed toward the end of the year. In December, they rose 34 percent.
Ford said that about 1,400 workers will be affected by the move to lower F-150 Lightning production, with the Rouge Electric Vehicle Center transitioning to one shift, effective April 1.
Approximately 700 employees will transfer to Ford’s Michigan Assembly Plant while other workers will be placed in roles at the Rouge Complex or other facilities in Southeast Michigan. Some employees are expected to take advantage of the Special Retirement Incentive Program agreed to in the 2023 Ford-UAW contract.
“We are taking advantage of our manufacturing flexibility to offer customers choices while balancing our growth and profitability,” Ford CEO Jim Farley said in a statement.
