Demand for electric trucks falls short of expectations

  • Ford will slow production of its all-electric F-150 Lightning pickup truck
  • Demand for electric trucks is not as high as expected
  • Ford sold about 7,700 F-150 Lightning trucks between March and August
  • Ford has delivered over 9,000 F-150 Lightnings in September, October, and November
  • Ford’s electric pickup truck sales have risen 50% year to date
  • Ford is likely to hit about 40,000 F-150 Lightning sales by the end of 2023
  • Ford is targeting to sell about 6,000 F-150 Lightnings per month
  • EVs face challenges with charging infrastructure and affordability
  • BEV truck sales account for about 1% of total U.S. pickup truck sales
  • Wall Street expects up to 200,000 electric pickups sold by Ford, GM, Rivian, and Tesla
  • Ford stock has declined 18% over the past 12 months

Ford Motor is set to slow production of its all-electric F-150 Lightning pickup truck as demand for electric trucks in the U.S. disappoints. Between March and August, Ford sold about 7,700 F-150 Lightning trucks, with sales picking up after production restarted in August. Year to date, Ford’s electric pickup truck sales have risen 50%, but are still lower than projected. Ford is likely to hit about 40,000 F-150 Lightning sales by the end of 2023, targeting to sell about 6,000 per month. The lower demand for EVs can be attributed to challenges with charging infrastructure and affordability. BEV truck sales currently account for about 1% of total U.S. pickup truck sales. However, Wall Street expects up to 200,000 electric pickups to be sold by Ford, GM, Rivian, and Tesla, representing about 6% of the pickup truck market. Ford stock has declined 18% over the past 12 months due to factors such as higher interest rates, labor costs, and lower EV demand.

Public Companies: Ford Motor (F), General Motors (GM), Rivian Automotive (undefined), Tesla (undefined)
Private Companies:
Key People:

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Factuality Level: 7
Justification: The article provides information about Ford Motor slowing production of its all-electric F-150 Lightning pickup truck. It mentions that Ford will cut production in half and provides sales numbers for the truck. The article also discusses the challenges and factors affecting the demand for electric trucks, such as concerns over charging infrastructure and affordability. However, the article does not provide any sources or data to support its claims, and some statements are presented as opinions rather than facts.

Noise Level: 6
Justification: The article provides some relevant information about Ford’s production slowdown of its all-electric F-150 Lightning pickup truck. However, it lacks in-depth analysis and fails to provide evidence or data to support its claims about EV demand and market projections. The article also briefly mentions concerns over charging infrastructure and affordability without exploring these issues further. Overall, the article contains some noise and lacks intellectual rigor.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information about Ford Motor slowing production of its all-electric F-150 Lightning pickup truck, which can impact the electric vehicle industry and Ford’s performance in the market.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the impact of Ford slowing production of its all-electric truck, which is relevant to financial markets and companies in the electric vehicle industry. However, there is no mention of an extreme event.

Reported publicly: www.marketwatch.com