By DCB Editorial, November 1, 2024
Ford Motor Company is set to temporarily halt production of its F-150 Lightning electric truck from November 18 to January 6, 2025, aiming to optimize production for growth and profitability. This six-week pause, along with Ford’s December holiday break, will allow the automaker to further refine its electric vehicle (EV) strategy.
Ford has recently shifted its EV plans, including canceling a planned three-row electric SUV and delaying another electric F-150 model. Balancing its EV focus, Ford is also increasing emphasis on hybrids. Despite this pause, U.S. EV sales have surged by 45% this year, with F-150 Lightning sales doubling in Q3, though they still account for only 3.6% of total F-Series sales.
Ford CEO Jim Farley has emphasized cutting production costs as a critical strategy to stimulate electric vehicle (EV) sales and ensure financial stability amid projected EV-related losses of $5 billion this year.
In its third-quarter earnings, Ford reported a net income of $900 million, or 22 cents per share, though this was impacted by a $1 billion charge due to the cancellation of its planned three-row electric SUV in August. Farley’s focus on cost efficiency is part of Ford’s broader efforts to improve profitability and competitiveness in the EV market.
