Ford to cut planned EV F-150 production in half 

INDIANAPOLIS (WISH) — Ford Motor will cut planned production of its all-electric F-150 Lightning pickup roughly in half next year, according to CNBC.

“We’ll continue to match production with customer demand,” a Ford spokeswoman said on Monday.

According to CNBC, “Demand has been slower than many expected, as prices and interest rates remain high.” Higher prices and interest rates have remained higher than expected, but I suspect that they are only part of the problem. Car buyers are clearly becoming increasingly aware that EVs (and the infrastructure needed to support them) are not yet ready for prime time. That may not matter too much when EVs are being bought as a second or third car (as has been the case with many EV purchases), but it will weigh much more heavily as manufacturers attempt to widen demand for EVs away from relatively wealthy early adopters.

The move didn’t surprise automaker insiders. MotorTrend said, “Ford has saddled the F-150 Lightning a number of price hikes, diminishing the everyman appeal a bit more each time.” 

The electric truck isn’t alone in its struggles at Ford, with the automaker also reducing some production capacity tied to its Mustang Mach-E SUV back in November. The Blue Oval also recently announced that it would be delaying some $12 billion in spending it had earmarked for EVs, citing the costs incurred during the UAW strike. Ford additionally announced that work on one of its battery plants planned for Kentucky is stalled for the time being.

The latest cuts come despite the Lightning having its best sales month ever in November with 4,393 deliveries. Lightning sales in the third quarter fell 46% as the automaker shut its factory for expansion and delayed delivery of the truck for “quality checks.”