A thunderous EV Failure: Ford F-150 Lightning Sales Plunge 50% year-on-year
Here’s another sign that Ford’s multi-billion-dollar foray into electric vehicles has failed is that sales of its EV flagship, the F-150 Lightning pickup truck, fell 50% in October from the same date last year.
READ MORE ABOUT FORD’S F-150 LIGHTING TROUBLES
Ford F-150 Lightning Trouble Deepens
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The gas-powered version of the pickup has been the best-selling vehicle in the U S for over four decades, and Ford hoped to capitalize on the brand. But in October, Lightning sales dropped 49.8% to 1,863. Meanwhile, total F-Series sales saw an annual growth of 26.1% to 67,483.
Ford’s EV sales, in general, are dismal, dipping 8.3% to 6,264 from October to October; during the same period, its total sales for the month were up 15.2% to 172,756.
The company initially said it would invest $30 billion in its electric vehicle programs, with officials saying at one point saying it could build 600,000 EVs annually by the end of 2024, something that, if that goal is ever reached, could take many years.
Overall, its crosstown rival, GM, is generally considered the legacy automaker most likely to take market share from Tesla, although America’s No.1 car company also faces brand and production hurdles.
Sad to say, but Ford’s EV efforts will go down as one of the worst failures in carmaking history.
Edsel, anyone?
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