Ford is a well-known brand in the automotive sector, which is known for manufacturing vehicles in almost every segment. But Ford is soon going to halve the production of its F-150 Lightning. Perhaps this will not be good news for the market and consumers. Ford is currently asking consumers to halve its production target for the F-150 Lightning.
According to Ford data, it is currently manufacturing 3200 F-150 Lightning trucks per week, but Ford plans to produce only 1600 units per week next year. Because the decision to change this has probably been taken considering the market condition, consumer demand, and popularity of the EV sector, The average price of all available variations of a new Ford F-150 Lightning is around $65,000.
He also announced an additional $12 billion in EV production across the country. But just last year, Ford announced that it would increase production of electric vehicles.
There’s such a big push from the administration toward electric vehicles that the market is not ready for, neither the producers nor the automakers nor the consumers. It’s too expensive for the manufacturers to produce these things, and it’s too expensive for the consumers. It’s very expensive.
Despite comparisons to competitors’ production cuts, the impact of the misfire on Ford’s stock is less severe than that of Ford (down 2%) and Rivian (down 4%), both of which have higher-priced demand models. This decision indicates that EV production is set to meet President Donald Trump’s ambitious target of making two out of every three electric cars by 2032.