Ford’s F-150 Lightning is dropping floor within the US with new electrical pickups just like the Tesla Cybertruck and Chevy Silverado EV now obtainable. Though Ford plans to launch smaller, extra reasonably priced EVs, together with an SUV and pickup, they gained’t arrive for (no less than) one other two years. With new threats, together with a wave of lower-cost EVs and Trump threatening to impose tariffs on imports from Mexico, will Ford’s growing older lineup set it additional behind?
Ford Lightning falls behind in growing older EV lineup
It’s been virtually three years for the reason that first F-150 Lightning fashions rolled out of Ford’s Rouge Electrical Car Middle in Dearborn, Michigan.
Except for the Rivian R1T, the Lightning was among the many first electrical pickups obtainable within the US. Rivian delivered the primary R1T fashions in October 2021. The primary Lightning prospects obtained their autos in Could 2022.
Regardless of setting a new January EV gross sales document, Ford bought fewer Lightning fashions than final 12 months. Final month, gross sales slipped 15.5% to simply 1,907, in comparison with 2,258 in January 2024.
The Mustang Mach-E was the first purpose behind Ford’s greater EV gross sales final month. Ford bought 3,529 Mach-Es in January, up 172% from the 1,295 bought final 12 months.
After falling behind GM within the US electrical automobile market final 12 months, Ford launched important incentives towards the tip of the 12 months to spice up gross sales. In October, Ford launched its “Energy Promise” program, giving all EV patrons a free Degree 2 residence charger value $2,000. It prolonged the promotion final month after gross sales jumped 16% in This autumn.
In keeping with Edmunds (by way of Bloomberg), Mach-E fashions sat on the lot for a median of over three months earlier than the motivation, practically 20% longer than the common EV.
New threats rising
Ford’s growing older Lightning and Mach-E are already falling behind new EV rivals just like the Tesla Cybertruck and Honda Prologue.
In keeping with Cox Automotive’s 2024 EV gross sales report, Tesla bought 38,965 Cybertrucks within the US final 12 months, beating out the Lightning at 33,510. Even the brand new electrical Chevy Silverado is catching up.
After the lower-priced LT trim started arriving at dealerships in October, GM bought 2,176 Silverado EVs within the closing three months of 2024, for a complete of seven,428. Later this 12 months, Ram will launch its first electrical pickup, the Ram 1500 REV.
Ford is betting on a brand new low-cost EV platform because it appears to maintain tempo with international leaders like Tesla and BYD. The brand new platform, underneath improvement by a group of former Tesla, Lucid, Rivian, and Apple execs in California, will underpin a sequence of smaller, extra reasonably priced EVs.
The primary fashions are anticipated to be a smaller electrical crossover SUV and pickup, beginning at underneath $30,000. Nonetheless, the brand new EVs will not be anticipated to reach till no less than 2027.
By then, Ford will face stiff competitors with Rivian launching its smaller R2, Volkswagen’s Scout model arriving, and so forth.
With Trump threatening a 25% tariff on imports from Mexico, the place the Mustang Mach-E is constructed, Ford might face extra headwinds this 12 months.
Electrek’s Take
Ford has already pushed again a number of important electrical automobile fashions and different tasks. Final 12 months, it dropped plans to construct a three-row electrical SUV, which CEO Jim Farley as soon as described as a “private bullet prepare.”
The bigger SUV was anticipated to launch this 12 months, however as an alternative, rivals like Hyundai, Kia, Lucid, and Volvo are taking benefit with new three-row electrical SUVs (IONIQ 9, EV90, Gravity, and EX90) arriving within the US this 12 months.
After delivering the primary fashions final March, Honda’s Prologue already outsold the Ford Mustang Mach-E final month.
Ford’s Mannequin e electrical automobile unit misplaced round $5 billion final 12 months and is predicted to proceed racking up the losses in 2025. Morgan Stanley analyst Adam Jonas forecasts related losses at round $4.8 million this 12 months.
We’ll be taught extra tomorrow when Ford experiences its fourth-quarter earnings. Test again for a breakdown of the report.
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