Ford cuts 2024 manufacturing plans in half

DETROIT — Ford Motor will reduce deliberate manufacturing of its all-electric F-150 Lightning pickup roughly in half subsequent yr, marking a serious reversal after the automaker considerably elevated plant capability for the electrical car in 2023.

The brand new manufacturing plans name for common quantity of round 1,600 F-150 Lightnings every week at Ford’s Rouge Electrical Automobile Heart in Dearborn, Michigan, beginning in January, in accordance with a supply conversant in the choice. The automaker most not too long ago deliberate to provide roughly 3,200 of the automobiles on common per week.

“We’ll continue to match production with customer demand,” a Ford spokeswoman mentioned Monday.

Ford executives have not too long ago mentioned the automaker will match manufacturing to demand, as the corporate cancels or postpones $12 billion in upcoming EV investments.

The manufacturing cuts for the F-150 Lightning had been first detailed in a planning memo to suppliers obtained by Automotive Information. The memo cited “changing market demand” for the cuts, in accordance with the publication.

EV demand has been slower than many anticipated, as costs and rates of interest stay excessive. Automakers are working to chop prices of manufacturing all-electric automobiles, whereas rethinking production and product plans for the years forward.

Ford spent six weeks earlier this yr to extend capability of the F-150 Lightning on the Michigan plant, which was anticipated to be capable of producing 150,000 of the all-electric vehicles, 3 times its preliminary deliberate output.

Gross sales of the F-150 Lightning have steadily elevated in 2023, notching a month-to-month document of roughly 4,400 bought in November. The corporate has solely bought 20,365 of the vehicles this yr by way of November, up 54% from a yr earlier.

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