CEO Jim Farley announced the Ford F-150 Lightning had its best-ever sales month, breaking the record in November.
Ford Lightning sets new sales record in November
Farley said the company sold nearly 4,400 electric trucks this past month, an over 100% increase compared to last year.
The uptick comes after Lightning sales fell by 46% in the third quarter. Ford told Electrek in September that “F-150 Lightning production is starting to ramp after a six-week shutdown.”
Ford said it was on track to triple EV pickup production after revamping its Rouge EV plant in Michigan.
In October, Ford sold 3,712 Lightning models, up 52.4% over 2022. The record November sales performance comes despite Ford scaling back on EV investments.
Ford announced last month that it would be “re-timing and resizing some investments,” including at its Michigan EV plant. The plans call for cutting its investment by nearly $1.5 billion and expected jobs to 1,700.
When Ford initially announced plans this February, it called for 2,500 new jobs and 35 GWh annual LFP battery output (starting in 2026). That would be enough to power around 400,000 EVs.
Ford now expects to have around 20 GWh output, over 40% less than initial plans. The plant expects to produce LFP batteries for about 230,000 electric models annually.
The automaker has already delayed its 600,000 EV run rate goal until next summer. It’s also cutting one of three shifts at its Rouge EV facility, where the Lightning is built.
Ford’s chief communications officer, Mark Truby, told reporters that the decision was based on “demand and the expected growth for EVs.” Ford is pushing back around $12 billion in spending on EVs.
Farley said the company will have more EV sales news on Monday. Check back next week for the latest.
Despite setting a record in November, Lightning sales are well below where they should be. And Ford doesn’t seem to upbeat on where they are headed.
The company introduced significant incentives on the Lightning in October, including up to $15,000 off. The deal is good on a lease or purchase.
The shutdown at Ford’s Rouge EV plant was intented to speed up production, not slow it. Ford’s initial plans called for Lightning production to hit 150,000 by mid-2023. That would be about 12,500 a month.
With new competition like Tesla’s Cybertruck launching this week, the path will not get any easier.
Ford did add a new “Flash” trim (pictured above) to the 2024 Lightning lineup. The new model hits the “sweet spots” with modern features at the right value. It will include an extended range battery (providing up to 320 miles range), an interior loaded with tech, Ford Tow Tech Package, and a heatpump, starting at $69,995.