Posted on

Ford Slashes Price of Electric F-150 Lightning as Demand Weakens



Share

Ford Motor on Monday reduced prices of its F-150 Lightning electric pickup truck by between $6,000 and nearly $10,000, the latest sign of sluggish demand for electric vehicles.The price cuts come as inventories of unsold electric vehicles are rising on dealer lots, and follow several rounds of discounting by Tesla, the dominant seller of electric cars.Ford is lowering prices after it temporarily halted production of the truck this year to upgrade its assembly line and increase output. By the fall, the company expects its Rouge Electric Vehicle Center near Detroit to be able to churn out 150,000 Lightnings a year, triple its current production capacity.Competition in the electric vehicle business is growing more intense. Tesla s …

Read More