Ford Pauses F-150 Lightning Production Due to Weak Demand
Ford is reportedly pausing production of its F-150 Lightning electric pickup truck from mid-November until the end of the year due to weaker-than-anticipated demand. This includes the planned holiday downtime in December, meaning the F-150 production at Ford's Rouge Electric Vehicle Center in suburban Detroit will be halted from November 18th. The company has sold 22,807 units in the first nine months of 2024.
This news comes amidst Ford's consolidation of its electric vehicle ambitions. In August, the company announced it would scrap plans for a three-row electric SUV and delay the launch of an electric version of its top-selling F-150 pickup.
Despite higher sales in 2024, the F-150 EV is not a money maker for Ford. The company is reportedly offering dealers up to $1,500 for each 2024 F-150 Lightning they order from new EV distribution centers.
Ford's stock has lost over 15.42% year-to-date. Investors can gain exposure to the stock via the First Trust Nasdaq Transportation ETF FTXR and the WBI Power Factor High Dividend ETF WBIY.
When deciding whether a stock is a good buy, investors should consider valuation metrics, price action, and whether the company pays a dividend or buys back its own stock. Ford Motor does pay a dividend, which yields 4.89% per year as of the closing price on October 31, 2024.