Ford is reportedly considering pulling the plug on its flagship electric pickup, the F-150 Lightning. The Wall Street Journal, citing "people familiar with the matter," reports that execs are in "active discussions" but that no final decision has been made. The Lightning, once touted as a game-changer for the auto industry and likened to a modern Model T, has fallen well short of expectations. Dealerships report lackluster sales. "The demand is just not there," Adam Kraushaar, owner of an auto dealership in New Jersey, tells the Journal. "We don't order a lot of them because we don't sell them."
Since 2023, Ford has accumulated $13 billion in losses from its electric vehicle division. Ford paused Lightning production due to an aluminum shortage last month, and it is now weighing whether to keep the assembly line idle as it pivots toward smaller, more affordable EVs, according to the Journal's sources. The Lightning's struggles mirror broader headwinds for electric trucks. Stellantis recently scrapped its own plans for a Ram EV, and General Motors is rumored to be considering cuts to its electric truck lineup after setting aside $1.6 billion to cover losses.
Tesla's Cybertruck sales have also slumped, and Rivian has resorted to layoffs. Ford's challenges are not just about the vehicles themselves. The Lightning is America's top-selling electric pickup, Elektrek notes, but the end of federal EV tax credits has hurt sales, and in October, Ford sold only 1,500 Lightnings compared to 66,000 gas-powered F-Series pickups. The Journal notes that after initial excitement, Ford and GM lost billions on electric trucks. Price has proven a major barrier, with base Lightnings selling for around $50,000 and high-end versions for close to $90,000, far above initial promises. A major concern among buyers was the vehicle's range on a single charge, especially in cold weather or when towing big loads.
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