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How will Ford's stock price change after resuming F-150 Lightning production?
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Ford Halts F-150 Lightning Production for Seven Weeks Amid Weak EV Demand and Tesla Cybertruck Competition
Oct 31, 2024, 04:59 PM
Ford Motor Company has announced plans to halt production of its F-150 Lightning electric pickup trucks for seven weeks due to weaker-than-expected demand. Production at the Michigan plant will be suspended from mid-November—starting on November 15 or November 18—and is scheduled to resume on January 6, 2025. A Ford spokesperson stated, “We continue to adjust production for an optimal mix of sales growth and profitability.” The decision comes amid a broader slowdown in electric vehicle adoption by consumers. The F-150 Lightning, Ford's signature electric vehicle, has experienced declining sales and increasing inventory levels, with nearly 4,500 new vehicles available. Earlier, Ford had reduced its 2024 production targets for the Lightning from an initial goal of 166,000 units to 83,000 units in December, and now expects to produce fewer than 30,000 units—82% below the original target. The pause in production occurs as Tesla prepares to launch its Cybertruck, intensifying competition in the electric pickup market.
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