Ford is delaying the release of its next-generation electric pickup truck in Tennessee and its three-row electric SUV in Canada as a reflection of the changing nature of the EV market.
With EVs accumulating at dealerships, Ford recognizes the waning hype and adjusts its production pace and launch timelines accordingly.
Despite a 2.7 percent decline in EV sales growth in Q1 2024 compared to a 47 percent surge in Q1 2023, Ford remains committed to electrification, planning to expand its hybrid lineup and offer hybrid variants across its portfolio by 2030. This strategy includes introducing a hybrid Mustang, ensuring the iconic muscle car’s legacy endures.
In response to market dynamics, Ford’s decision to postpone the release of new EVs underscores its commitment to profitability. The large seven-seat SUV with zero emissions will roll off the production line in Ontario once it meets profitability criteria, while a new electric pickup truck production in Tennessee is set for 2026.
Despite EV challenges, Ford remains proactive, retooling facilities and ramping up production of popular models like the Bronco to meet demand. This strategic approach ensures Ford remains competitive amidst evolving consumer preferences and market dynamics.
