The Ford F-150 Lightning is supposed to be its EV flagship. It is the electric version of its F-150 pickup, the best-selling vehicle in America for over four decades. That should give the Lightning a built-in advantage. However, Ford has only sold 3,600 in the first two months of 2023. It is a sign of how far Ford has to go as it tries to get Lightning sales into the tens of thousands per month.
It is not clear why the Lightning is doing so poorly. Production has been shut down for weeks because of battery problems. The price of the Lightning has jumped, which happened suddenly and without warning. The least expensive Lightning, known as the “Pro” has a base price of $55,974. With a modest number of options, the price rises to over $65,000, which is hardly a level that most pickup drivers are likely to pay.
Ford has had enough time to get the Lightning out of its plants. It was launched on April 22 of last year. Executive Chairman Bill Ford, the company’s de facto CEO, said it was Ford’s 21st-Century moment. Henry Ford, who launched the Model T in 1908, must be spinning in his grave.
Ford credited several people and organizations that have already failed at their jobs. Bill Ford said, “The stunning anticipation for F-150 Lightning is a credit to the work of our Ford engineers and designers, and the UAW team members who are building these trucks with pride.” UAW chief Ray Curry may want to call Bill Ford and ask what happened.
Ford has had chance after chance for the Lightning’s early days to be a success. It has missed all of them and now has to repair its image as a company that can keep its promises at all.
These are the most fuel-efficient new trucks on the market.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.