Why Ford is halting production of its best-selling EV
What's the story
Ford is focusing on the production of its gas and hybrid F-150 and F-Series Super Duty trucks, leaving its all-electric F-150 Lightning out of the mix for now. The decision comes as part of the company's strategy to recover from losses caused by a fire at a key aluminium supplier's plant. The automaker has confirmed that assembly of the F-150 Lightning will remain paused at its Rouge Electric Vehicle Center in Dearborn, Michigan.
Strategic shift
Why is Ford prioritizing gas and hybrid trucks?
Ford has said that the gas and hybrid F-Series trucks are more profitable for the company and consume less aluminium. This is a major factor in their decision to prioritize these models over the all-electric F-150 Lightning. Despite strong sales growth of the electric truck, its numbers still pale in comparison to those of its gas-powered counterparts.
Sales update
In Q3, Ford sold over 10,000 F-150 Lightnings
Ford sold 10,005 F-150 Lightning pickups in Q3, a 39.7% year-on-year increase. However, this is still dwarfed by the sales of gas-powered F-Series trucks. In total, Ford delivered 545,522 vehicles in Q3, out of which 207,732 were F-Series models. The fire at the Novelis plant has cost Ford and disrupted production of some of its most popular vehicles. The automaker expects the incident to impact its fourth-quarter earnings by up to $2 billion.