Is Ford losing money on F-150 Lightning?

Is Ford losing money on the F-150 Lightning?
According to the available search results, Ford has indeed been losing money on the F-150 Lightning. In the third quarter of 2023, Ford reported an estimated loss of $36,000 on each of the 36,000 F-150 Lightning EVs it delivered to dealers. Additionally, Ford projected a loss of $3 billion on electric vehicles in 2023, including the F-150 Lightning. Despite these losses, Ford continues to produce the F-150 Lightning and other electric vehicles as part of its broader strategy to comply with emissions standards and sell more gas-powered cars and trucks, which are more profitable.
It’s worth noting that Ford has made efforts to adjust the pricing of the F-150 Lightning in response to market demand. The company has slashed prices and made improvements in scale and battery raw material costs to make the vehicle more competitive in the electric vehicle market. However, sales of the F-150 Lightning have reportedly been lagging, leading Ford to reduce production plans for the pickup .
Overall, while Ford has been experiencing financial losses on the F-150 Lightning and its electric vehicle division, it continues to invest in and produce electric vehicles as part of its long-term strategy to meet emissions standards and capture a share of the growing electric vehicle market.
Please note that the information provided is based on the available search results and may not reflect the most up-to-date financial situation of Ford or the F-150 Lightning.

Did Ford lose $36,000 on every F-150 Lightning sold?

The F-150 Lightning drew oohs and aahs from the press when it was unveiled in May 2021. Yet the electric pickup has been plagued with defects that have required recalls. It sold a mere 24,165 Lightnings last year and lost roughly $36,000 on each EV in the third quarter.

Why is no one buying Ford Lightning?

“The issue is the price they’re willing to pay has come down.” The Lightning still sells well, relative to last year. The company moved almost 4,400 units last month—that’s less than 10 percent of the total sales of F-150s in a given month, but 113 percent greater than last November’s sales.

Is Ford hurting financially?

Ford reported a profit of $4.3 billion in 2023, compared with a $2 billion loss in 2022. Revenue in 2023 rose to $176 billion, up from $158 billion in 2022. The company said its 58,000 U.A.W. workers would be paid profit-sharing bonuses of up to $10,400 based on its performance in 2023.

Are Ford Lightning prices going down?

Ford Motor Co. alerted its dealers Wednesday to price changes for its all-electric F-150 Lightning. Prices on model year 2024 pickups have jumped $2,000 to $10,000 from 2023, the automaker said. Meanwhile, premium trucks are getting price cuts of $5,000 to $10,000.

Is the Ford Lightning having problems?

Ford Motor Co. has halted shipments of its F-150 Lightning plug-in pickup for an undisclosed quality issue just weeks after cutting production of the battery-powered model due to slowing sales. The automaker said in a statement late Friday it stopped shipping the Lightning on Feb.

Why is Ford Lightning not selling?

Last month, Ford said it would reduce production of its F-150 Lightning, as demand for electric vehicles (EVs) has been lower than expected.

Is F-150 Lightning selling well?

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% to a record 1.19 million last year, according to Motorintelligence.com.

Is the electric F150 selling well?

Ford told suppliers in December that it planned to produce about 1,600 F-150 Lightning EV trucks per week starting in January, roughly half of the 3,200 it previously had planned. Ford sold 24,165 F-150 Lightning trucks last year in the United States, up 55% over 2022, out of about 750,000 total F-150 U.S. sales.

Is Ford losing money on electric vehicles?

The bad news. Here’s the kicker about Ford’s record EV sales: The company is still burning cash on each EV that rolls off its production line. In fact, Ford previously estimated its EV business unit, Model e, would lose roughly $4.5 billion in 2023.

Is Ford on the decline?

The automaker’s total vehicle sales declined 5.3% from October 2022 to 149,938, marking the brand’s first year-over-year decline of 2023.