When the CEO of Ford complains that his 1500 mile trip in the F-150 was
horrible, you know this EV sucks. Consumers are coming out of their
honeymoon phase with EV and realizing how much they still suck.

"Ford will cut weekly production of F-150 Lightning in response to
slowing demand"

"The automaker is telling dealers to expect an average of 1,600 trucks
per week in 2024. The factory has a capacity to make 3,200 vehicles a
week."

"Ford told its dealers that it was reducing weekly production of its F-
150 Lightning pickup truck next year in response to slowing customer
demand, Automotive News reports.

According to a memo viewed by the outlet, Ford told its dealers to
prepare for an average production volume of 1,600 electric trucks from
its Rouge Electric Vehicle Center in Dearborn, Michigan, starting next
year. The company currently churns 3,200 trucks out of that factory each
week.

Emma Bergg, a spokesperson for Ford, declined to comment on the numbers
published in the report. �We will continue to match Lightning production
to customer demand,� she said in an email.

�We will continue to match Lightning production to customer demand.�

EV sales are continuing to trend upward, but not as quickly as some
automakers had anticipated. As a result, several companies have pulled
back on their ambitious construction plans, including Ford, which
recently said it would delay $12 billion in investments. That includes
pausing construction of one of its two planned battery plants in Kentucky
and reducing production goals for another battery factory in Michigan.

Ford continues to lose money on its EVs, around $1.3 billion this past
quarter in adjusted earnings. So far this year, Ford has lost $3.1
billion on its EV spending and has said it�s going to lose a total of $4
billion for the year.

But despite this, EV sales continue to grow. Ford sold 20,365 F-150
Lightning trucks so far in 2023, up from 13,258 in 2022 for a 53 percent
increase. EVs accounted for a little under 8 percent of all US vehicle
sales in the third quarter of 2023, according to Cox Automotive.

EV sales are hampered by high prices and a dearth of charging options.
Ford has tried to address this with new releases like the F-150 Lightning
Flash, a midpriced trim of its electric truck, and partnering with Tesla
to adopt the company�s EV plug."