Ford to Reduce Electric F-150 Production Due to Weak Demand
Ford Motor plans to decrease production of their electric F-150 pickup trucks next year due to low consumer demand.
Slower-than-Expected Growth in Electric Vehicle Sales
Several automakers, including Ford Motor, have been forced to scale back their ambitious production plans for electric vehicles due to slower-than-expected growth in sales.
In a memo to suppliers, Ford announced that it will produce an average of 1,600 electric F-150 Lightning trucks per week in 2024, which is half of its previous target.
This reduction in production reflects the diminished expectations for sales of electric cars and trucks. High prices, availability and reliability of charging stations have deterred potential buyers.
Adjustments in Production Plans
General Motors (GM) had previously planned to produce 400,000 electric vehicles by mid-2024 but withdrew that goal in November. Ford had aimed to make 150,000 electric F-150s per year and have the capacity to produce 600,000 battery-powered vehicles annually by the end of next year.
However, current market conditions and consumer demand have led both companies to adjust their production plans.
Ford has also scaled back production plans for its electric SUV, the Mustang Mach-E.
Challenges in Electric Vehicle Adoption
The high cost of electric vehicles compared to gasoline-powered models has been a major deterrent for consumers.
Additionally, the lack of charging infrastructure in many areas and long wait times at public chargers have also discouraged potential buyers.
Automakers are carefully monitoring market demand and adjusting their production capacity accordingly.
