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Stock impact report

Ford faces nearly $20 billion in losses after pulling plug on iconic vehicle: 'The American consumer is speaking clearly' [Yahoo! Finance]

Ford Motor Company (F) 
Last ford motor company earnings: 4/28 04:09 pm Check Earnings Report
US:NYSE Investor Relations: shareholder.ford.com
Company Research Source: Yahoo! Finance
Ford unveiled the truck in 2021 with an attractive starting price of $40,000, but actual sale prices fell far short of that promise. By 2025, the base price had climbed to about $55,000. The company never turned a profit on a single Lightning, not even when charging more than originally promised. Ford says it will now put its resources toward vehicles with better profit potential. "The American consumer is speaking clearly and they want the benefits of electrification like instant torque and mobile power," said Andrew Frick, president of Ford Blue and Ford model e. "But they also demand affordability … rather than spending billions more on large EVs that now have no path to profitability, we are allocating that money into higher-returning areas." The truck won praise from automotive critics, including Motortrend's 2023 Truck of the Year award. But buyers complained the battery drained too quickly when hauling loads, and dependability issues hurt sales. When one of America's Show less Read more
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