The Ford F-150 Lightning has become an unlikely hot commodity after Ford halted new production and shifted focus to more profitable gasoline pickups. The Lightning was engineered as an electric version of the F-150 and shared many parts with the conventional truck, a strategy that still left it unprofitable for Ford.
Production was further disrupted when Ford’s main aluminum supplier experienced fires that forced shutdowns, a blow that the company chose to absorb by prioritizing profitable trucks over the loss-making electric model. Kyle Stock reported the market reaction, noting a rapid uptick in demand for used Lightnings.
Market data as reported by Edmunds shows used Lightnings now sell in about 20 days on average, compared with 44 days for the typical used vehicle, and prices have risen to about $50,000, a roughly 4 percent increase since the start of the year. Nearly one third of used Lightnings are being sold by dealerships outside the Ford network, Douglas told reporters, indicating broad dealer interest.
Buyers say the Lightning can represent value once depreciation eases. A county planner in Colorado, Chase Norris, bought a used Lightning for $40,000 and described it as a major upgrade and a bargain. Ford itself is preparing a lower-cost electric pickup, the Ford Fathom, which the company plans to reveal soon.
Industry Ripples and Related Developments
BMW extended its lead in the US luxury market, selling more than 100,000 vehicles in the quarter. Automotive News reported BMW’s 3 Series sales jumped 46 percent to 11,256 units in the third quarter, while the X3, X5, X6 and X7 each posted gains and a redesigned X5 was set to arrive at dealers.
Inside the labor movement, incumbent UAW President Shawn Fain won reelection with over 68 percent of the vote, the Detroit Free Press reported, from nearly 100,000 ballots cast. Rich Boyer finished second with just over 13 percent. A court-appointed monitor has criticized Fain for retaliating against dissenting members, but that did not dent his support at the ballot box.
Separately, Bloomberg reported the European Union agreed to limit hybrid vehicle imports to 350,000 units per year, a move that primarily affects Chinese automakers. The agreement includes Chinese concessions, such as removing tariffs on some auto parts and halving duties on shoes, ice cream and olive oil, covering about €4 billion of exports. The two sides also agreed to discuss export controls and information exchanges on rare earths and permanent magnets.
