Ford revealed on Friday that it will be cutting back on manufacturing of the F-150 Lightning electric truck in response to lower-than-anticipated increase in sales of electric vehicles.
Although electric vehicle (EV) sales are increasing in the United States, they are not keeping up with the industry’s aggressive growth target, and many buyers are now choosing hybrid cars instead.
There will be an impact on about 1,400 workers when the Dearborn, Michigan assembly plant is reduced to one shift.
Just over 24,000 Lightnings were sold by Ford last year, a 55% increase over 2022. Dealers, meanwhile, are reporting sluggish sales and increasing stock levels for the electric vehicle, with a starting price of just less than $50,000.
Jim Farley, president and chief executive officer of Ford, stated, “We are taking advantage of our manufacturing flexibility to offer customers choices while balancing our growth and profitability.” “We see a bright future for electric vehicles for specific consumers, especially with our upcoming digitally advanced EVs and access to Tesla’s charging network beginning this quarter.”
Additionally, Ford announced on Friday that, in order to satisfy demand for the Bronco SUV and Ranger midsize pickup truck, it is adding a third crew and about 900 additional positions to its Michigan assembly plant.