F-150 Lightning Sales Drop To Zero
Ford's $30 billion EV bet just hit a milestone nobody expected, and the company is celebrating. Why would an automaker cheer the collapse of its flagship electric truck, and what is it betting on instead?
It is very good news for Ford (NYSE: F | F Price Prediction). In October, it sold no F-150 Lightning. The EV pickup was the flagship of Ford’s planned $30 billion plunge into the EV business. The last of the remnants of that have barely survived.
F-150 Lightning sales in October of last year were 1,543. Early estimates were that Ford would sell tens of thousands a month. Ford can turn its focus to gas-powered vehicles and a foray into hybrids (Toyota (NYSE: TM) posted extraordinary earnings largely driven by its hybrid success). Ford sold 13,818 hybrids in October, which was down 20%, but it says it will push aggressively into this sector of the car business.
Perhaps the very best news for Ford is that sales of its F-Series pickup rose 8.2% to 73,482. Sales earlier in the year were down because of production and supply chain issues. The F-150 is the top-selling vehicle in the US and represents more than 30% of Ford’s monthly total. No vehicle is more critical to Ford’s success.
Ford management has made a good decision to focus on gas-powered vehicles, which have driven its revenue for years. Overall hybrid sales across the industry have been good, but they still make up a tiny percentage of overall US car sales. The future of EVs has been crippled. The federal government discontinued a $7,500 tax incentive, which pushed sales down 30% year over year in the first three quarters of 2026. Potential buyers have continued to worry about range and the number of charging stations.
Ford can hold its own in the American car market, or even do better. Its brand is among the strongest in the US. Its SUVs and pickups are still wildly popular. If global oil supply rises and gas prices drop, Ford will have the wind in its sails.
Ford’s main anxiety is that Chinese EVs can be sold in the US. They are both inexpensive and apparently full of features that should appeal to owners. As Democrats take much of the power in Washington, Ford’s employee base will likely be protected. That means there won’t be Chinese EVs in the US anytime soon.
The new Ford looks like the old Ford, and that is good news.
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