The recent growth rate in electric vehicle (EV) adoption has experienced a slowdown, prompting automakers to reevaluate their EV investment strategies. Following suit, Ford has announced plans to reduce production of the F-150 Lightning in the upcoming year.
According to an internal planning memo obtained and reported by Automotive News, Ford has informed suppliers to anticipate an average production volume of approximately 1600 F-150 Lightnings per week starting in January at its Rouge Electric Vehicle Center in Dearborn, Michigan. This volume represents a significant reduction from the initially projected 3200 units per week, as Ford had aimed to manufacture 150,000 units annually.
This decision aligns with Ford’s response to what it refers to as “changing market demand.” In a statement released on Monday, the company emphasized its commitment to adjusting production levels in accordance with customer demand.
In October, Ford temporarily halted one of the three shifts at the Lightning plant, impacting around 700 workers. This move followed the addition of a third shift to the Lightning production line.
Despite the production slowdown, Ford has managed to achieve sales for the F-150 Lightning this year. The company reported the sale of 20,365 electric trucks through November, marking a 54 percent increase compared to the previous year. November witnessed the highest monthly sales, with 4393 units sold. However, it is essential to contextualize these figures within Ford’s broader sales, as the automaker sold 190,477 total trucks in the third quarter of 2023 alone.