Moreover, the kinds of vehicles that Americans have historically lined up for won\u2019t automatically be a hit among EV shoppers.<\/p>\n
\u201cRight-sizing production to balance the supply and demand is a new equation for every company,\u201d Fiorani said. \u201cIt was tough enough when Ford had to estimate the market for a traditional SUV in an established segment, but now there are more variables since nobody has accurately gauged the true number of EV buyers.\u201d<\/p>\n
Evidently, just because a certain vehicle is extremely popular in its gas-powered form\u2014Ford sold well over 600,000 F-Series trucks in 2022, and that was a weaker year\u2014that doesn\u2019t mean it\u2019ll be equally popular as an EV. That\u2019s the lesson the auto industry is learning as the nascent EV market matures, Fiorani said.<\/p>\n
\u201cThe whole transition to EVs is a mystery, and so everybody\u2019s learning who\u2019s in the market and who\u2019s not in the market,\u201d he said. \u201cAre pickup truck buyers looking for an electric vehicle? Or are economy car buyers looking for an electric vehicle?”<\/p>\n
Gallery: 2024 Ford F-150 Lightning Platinum Black <\/h3>\n
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That makes perfect sense, given that the calculation has changed for buyers too. On top of weighing usual factors like brand, style, and price, EV buyers need to think about things like range, charging speed, and tax credits. EV shoppers are less likely to stay loyal to a specific brand than other buyers.\u00a0<\/p>\n
The Lightning, the new electric twin to America\u2019s most popular vehicle, was widely hailed as the truck that could take EVs mainstream upon its unveiling in 2021 and subsequent launch the following year. For a while, demand for it seemed practically limitless, and Ford announced ever-higher annual production targets.<\/p>\n
This year, the company again boosted production capacity at its Dearborn, Michigan truck-making plant, allowing it to crank out Lightnings at a rate of 150,000 per year. Now Ford seems to think it can\u2019t find buyers for that many trucks.\u00a0<\/p>\n