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Ford will halt production of its F-150 Lightning electric pickup truck starting in mid-November for about two months, as it struggles with falling demand, increasing competition and losses in its electric vehicle business.
“We continue to adjust production to achieve an optimal combination of sales growth and profitability,” a Ford spokesperson told TechCrunch. The news was previously published New carsQ.
The decision to stop production comes at a time when the Tesla Cybertruck has surpassed Ford’s famous Mach-E to become the third best-selling electric car in America. This comes after its current competitor, General Motors, surpassed Ford in electric car sales for the third quarter. GM sold 32,095 electric vehicles, surpassing Ford’s 23,509 electric vehicles.
during Earnings call Earlier this week, Ford said it expects full-year Model E revenues to reach $1.2 billion. This is in addition to expected losses of about $5.5 billion, which is slightly lower than expected but still higher than losses in 2023. The Model E is Ford’s electric vehicle business, which the automaker reports separately from its auto business. Gas Ford Blue and Ford Pro. Business.
The F-150 Lightning is produced at Ford’s Rouge Electric Vehicle Center in Dearborn, Michigan. The automaker will temporarily halt production starting November 15, which is a Friday. The factory will remain closed until January 6, 2025. The temporary stop includes the week of vacation that Ford usually gives to its American factories starting December 23.
The hiatus follows the reduction of a third of staff at the plant earlier this year, and comes ahead of the US elections next week. Government support for electric vehicles has been a topic of debate in Michigan, a key swing state.
In response to weak demand for electric vehicles and high production costs for battery-powered vehicles, Ford said in August that it would delay production plans for a three-row electric SUV and a next-generation pickup truck.
A year ago, Ford lowered its production target for the F-150 Lightning to match demand.
During this week’s earnings call, Ford CEO Jim Farley noted that the automaker is focusing on hybrid vehicles.
“Most of our competitors don’t offer hybrids on the scale of the F-150 or Maverick. This was a great revenue opportunity for us. We honestly can’t keep up with the demand,” Farley said. “And I think that encouraged us to put a hybrid system across the entire lineup and be more curious.” About other partial electrical solutions, which we will talk to you about.”
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