For many years after I had retired I fantasized about buying a pickup truck. Did I need a pickup truck? No, not really, although on occasion, having a pickup truck would have been convenient. Did I ever get a pickup truck? … No, although a few months back I read that Ford was discounting its F-150 by $10,000! I asked myself, “Why would Ford reduce the price of its F-150 by $10 K?”
Answer … because this reduced price was on its F-150 Lightning EV, and the F-150 Lightning EV is just not selling. In fact it is not selling to such a degree that Ford is now reducing its production of F-150 Lightning EV by one half.
From Hot Air:
“Bloomberg News reports that the company’s flagship plant in Dearborn, Michigan now intends to produce 1,600 vehicles per week in 2024, down from 3,200 in 2023.
The move comes just months after Ford announced it was slashing prices on the Lightning by $10,000. And though the company cited lower “battery raw material costs and continued work on scaling production and cost” for its price cut, it’s becoming painfully obvious that low demand for EVs was the primary catalyst.
AEIR describes this development as an example of ‘what happens when companies heed planners instead of consumers.’ That sounds like a very accurate assessment. They note that Ford appears to be trying to cover their tracks by crediting lower raw material costs for batteries and more efficient production line practices. But the harsh reality is that the demand for these vehicles is nowhere near the sunny projections put forth by the government.”
Could this move by Ford be the initial “chink in the armor” of these government EV mandates?
Still from Hot Air:
“Around the United States. Car lots are filled with electric vehicles, many with their original sales prices reduced. Most people simply aren’t interested in purchasing an EV despite any mandates being issued by state governments or the White House. There are various reasons for this, including the high cost of these vehicles (despite generous, taxpayer-funded rebates) and the uncertainty of there being sufficient charging stations to keep them running. Now Ford has seemingly woken up to the reality of the situation.”
So at this point in time, I guess that I will never fulfill my fantasy as I do not intend to purchase an EV. Yes, I suppose that I could still be interested in a Ford F-150, but only if the gas powered ones go on sale !!
1/2/24