Ford Halting Manufacturing of Its Electrical F-150 Lightning Truck, Report Says

Ford (F) is halting manufacturing of its all-electric F-150 Lightning pickup truck for at the very least a number of weeks because it faces softening demand for its electrical autos, based on a Wall Avenue Journal report.

The automaker will idle the Rouge Electrical Automobile Middle in Dearborn, Mich, that manufactures the vans beginning in mid-November by Jan. 6, the Journal’s report stated. The corporate did not instantly reply to a request for remark.

The manufacturing cease comes after Ford scaled again F-150 Lightning manufacturing in April by transferring to only one shift on the facility. 

Gross sales of Ford’s EVs Have Slowed

Ford Mannequin e, the corporate’s EV division, on Monday reported a loss of $1.2 billion for the third quarter. Income fell by a 3rd year-over-year. Trying on the 12 months to this point, the unit’s income is down 43% by the primary 9 months of 2024 in contrast with 2023. 

Rival Common Motors (GM) confirmed increased profitability from EVs when it reported earnings earlier this month. 

Shares of Ford fell 8% Tuesday after its third-quarter outcomes and are down about 15% year-to-date. The shares completed Thursday down a bit lower than 2%.