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DETROIT (AP) — Ford Motor will roughly cut planned production of its F-150 Lightning all-electric pickup truck next year, marking a major shift after the automaker skewed its plant capacity for the vehicle. electric in 2023.
The new production plans call for average volume of around 1,600 F-150 Lightnings a week at Ford’s Rouge Electric Vehicle Center in Dearborn, Michigan, starting in January, according to a source familiar with the decision. The automaker most recently planned to produce roughly 3,200 of the vehicles on average per week.
“We will continue to adapt production to visitor demand,” a Ford spokeswoman said Monday.
Ford executives recently said the automaker will match production to demand as the company cancels or postpones $12 billion in upcoming EV investments.
Production cuts for the F-150 Lightning were first detailed in a manufacturing plan memo sent to suppliers via Automotive News. The memo cited “changing market demand” for the cuts, according to the publication.
Demand for electric cars has been slower than expected as costs and interest rates remain high. Automakers are facing the costs of producing all-electric cars, while reconsidering their production and product plans for the coming years.
Ford spent six weeks earlier this year ramping up capacity for the F-150 Lightning at the Michigan plant, which was expected to be capable of generating 150,000 all-electric pickup trucks, three times the originally planned production.
Sales of the F-150 Lightning increased in 2023, achieving a monthly record of around 4,400 units sold in November. The company sold just 20,365 trucks this year through November, up 54% from a year earlier. Don’t miss those stories from CNBC PRO:
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