Tesla Cybertruck's Impact on Ford F-150 Lightning Demand

In January 2024, Ford announced a significant reduction in the production of its 2024 Ford F-150 Lightning model, cutting output by half. This decision was followed a few months later by workforce adjustments at the Rouge plant, where some employees were reassigned while others were offered retirement packages. Initially, production of the 2025 Ford F-150 was scheduled to begin in November 2024; however, Ford has since decided to pause assembly lines for a period of seven weeks, from November 15, 2024, to January 6, 2025.

The Tesla Cybertruck has quickly gained traction in the market, achieving over double the sales of the Ford F-150 Lightning, having launched its sales only this year. There is a clear indication that the Tesla Cybertruck is negatively affecting the demand for the Ford F-150 Lightning.

Ford had reached a sales rate of approximately 1,700 F-150 Lightning trucks per month, but that number is now declining. The sales figures for Ford in September 2024 were recorded prior to the arrival of the more affordable Tesla Cybertruck models in October 2024.

Recently, Tesla shifted its pricing strategy, moving from offering foundation models priced between $100,000 to $140,000 to introducing a more budget-friendly $80,000 Cybertruck model in October 2024. As a result, Ford's sales have likely dipped below 1,000 units per month as they face increased competition from these lower-priced offerings from Tesla. It is estimated that Ford will maintain sufficient inventory to last through February 2025.

Tesla, Ford, Cybertruck