Ford CEO Jim Farley Totally Regrets Ford F150 Lightning Pickup

[roddiaz1]

I don’t see how a vehicle that cost $120k to build could have ever sold for $45-$50k.

Clearly the "cost" of the vehicle had nothing to do with the selling price. These were goona subsidized until production volumes could be increased and production costs could be amortized over a larger base.

Originally, pre-covid, Tesla announced the Cyber Truck at $49,500. Jim Farley wasted no time to jump in with the promise of a competing model for the same $49,500. That was going to be the target price. Of course, reality got in the way and the CT was delayed, the Lightning did not come in on budget, Covid happened, supply chains were disrupted, GMC/Chevy were way behind, RAM was a pump-fake, etc. etc. However, had the CT and Lightning come out more or less at the same time, I think both leaders would have recklessly under cut each other.

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[Oafy44]

Probably regrets canceling it this week as well while crude goes higher.

 

[detansinn]

Like many automakers, Ford didn’t realize that BEVs were going to be thrust into some culture war nonsense. I don’t blame Farley for the calls that Ford made at the time — both building these trucks and cancelling the program.

In the end, I feel lucky to own one of these machines.

I’ve owned some exotic stuff in my life, but hands down, my Lightning is one of the best vehicles that I ever owned. The plan was always to drive it for 10+ years. I have no doubt that it will go that distance and beyond. There’s no need to upgrade and knowing that Ford is out of this business for now, I know that I won’t be tempted anytime soon.

I am at the age where there’s like only 1 or 2 new trucks yet to be purchased by me before I am on the fireplace mantel in an urn. So, I am going to enjoy my Lightning.

 

[TaxmanHog]

Probably regrets canceling it this week as well while crude goes higher.

Yup, diesel price here went up 52 cents a gallon {from $3.579/g on 2/27 to 4.099/g this afternoon}
The value has increased from morning to afternoon over the last 3 days.

BTW when it reaches ~$5 gallon that is the equivalent value for electricity I'm charging my Lightning with.

 

[Oafy44]

Yup, diesel price here went up 52 cents a gallon {from $3.579/g on 2/27 to 4.099/g this afternoon}
The value has increased from morning to afternoon over the last 3 days.

BTW when it reaches ~$5 gallon that is the equivalent value for electricity I'm charging my Lightning with.

$5 total to charge the lighting correct ?

 

[luebri]

I think that Ford over reacted to the initial customer excitement with reservations, the plant expansion was a waste of money, should have waited a couple more years before considering increasing production capacity.

It always flabbergasted me how both Ford and Tesla treated $100 fully refundable reservation as "convertible demand". When I placed my $100 deposit on the first day of reservations, my thought was "it's a $100 refundable... what's the risk" maybe the stars will align and I can buy one. The stars did align for me luckily, but I totally understand why it didnt work for others.

Also as someone that (may or may not) have been involved in the supply chain for the Lightning, I sure love that Ford over bet, it was one of the big stars that aligned.

Its an amazing vehicle but I think Ford waited too long to cut bait, they will learn from it and hopefully apply that the UEV and then get back to a Full Size performance truck in the future with a profitable path.

 

[TaxmanHog]

$5 total to charge the lighting correct ?

$5 for one gallon of diesel would allow my old 2012 F250 PSD to go about 15 miles = $0.333 / mile

The energy ~15 kWh to drive my F150 Lightning in Massachusetts National Grid energy rates is currently $0.3184 a kWh, my winter inefficiency that includes off the plug cabin conditioning and occasional battery warming on the plug = $0.333 / mile aka around 1 MPK.

 

[JRDM2]

Yep the cost of electricity varies even more by state and region than fuels. But at least in my case the cost of electricity doesn't vary day to day, week to week. There is a day time peak rate in the summer but I can easily charge off peak.

 

[DavidS]

As a reference point, the first gen Tesla Roadster only sold about 2500 total and still managed to create a healthy aftermarket support network including upgrades to the battery. It did help that Tesla was willing to support the aftermarket. If Ford is willing to do the same and given the relatively modular design of the Lightning, I think there’s some good opportunities out there for future battery and charging improvements on existing Lightnings.

 

[Astrotrain00]

It always flabbergasted me how both Ford and Tesla treated $100 fully refundable reservation as "convertible demand". When I placed my $100 deposit on the first day of reservations, my thought was "it's a $100 refundable... what's the risk" maybe the stars will align and I can buy one. The stars did align for me luckily, but I totally understand why it didnt work for others.

Also as someone that (may or may not) have been involved in the supply chain for the Lightning, I sure love that Ford over bet, it was one of the big stars that aligned.

Its an amazing vehicle but I think Ford waited too long to cut bait, they will learn from it and hopefully apply that the UEV and then get back to a Full Size performance truck in the future with a profitable path.

Re: full-size truck in the future. Maybe I'm over (under?) thinking it, but I wouldn't be surprised if they launch the EREV on an updated platform, it sells well, and then a year or two into that offer it in a BEV option. Take out the motor, put some plastic in to give us back the frunk and add some modules on the bottom.

 

[luebri]

Re: full-size truck in the future. Maybe I'm over (under?) thinking it, but I wouldn't be surprised if they launch the EREV on an updated platform, it sells well, and then a year or two into that offer it in a BEV option. Take out the motor, put some plastic in to give us back the frunk and add some modules on the bottom.

Yea... just spitballing, but this is my hope how it plays out. Do the write offs now knowing there is no reason to hemorrhage more money the next few years. Feel out the EREV full size market / buyer and hopefully make some profitability progress with EUV platform that can be applied to a Full size (it will be expensive) real BEV truck... Maybe 2032 or so they are ready to take another crack at Full size BEV.

 

[Astrotrain00]

Yea... just spitballing, but this is my hope how it plays out. Do the write offs now knowing there is no reason to hemorrhage more money the next few years. Feel out the EREV full size market / buyer and hopefully make some profitability progress with EUV platform that can be applied to a Full size (it will be expensive) real BEV truck... Maybe 2032 or so they are ready to take another crack at Full size BEV.

Sold! I might be in a Rivian after my lease but I'd give the new platform another crack if it was full BEV.

 

[ka-chow]

I came here to mention the same thing. Makes ya wonder.

Probably regrets canceling it this week as well while crude goes higher.

 

[JRDM2]

There’s still 53 new Lightnings on dealer lots within 100 miles of me despite having pretty good incentives. Most have extended range batteries. The incentives I’m finding makes me wish I had waited a few months but oh well.

 

[chriserx]

The lack of understanding around the engineering of a Tesla, BEFORE they went to build their EV platforms is a complete failure of Farley and his leadership. So they want to have us believe they did not research the marketplace? Seems to me they tried to leverage the 'EV market' by taking something they are already making money on, and assumed that their legions of fans would just buy an EV version at a ridiculously high price, with the least amount of engineering put into the design.

They were then shocked when sales fell off a cliff and the solution over the years has been to decontent the truck and leverage large incentives, instead of just lowering the prices.

Since they are only now, seemingly, understanding their market, please consider what Tesla just did on CyberTruck.

They cut the price drastically, (albeit for 10 days) on a Cybertruck, and sold out it seems that inventory.

For Farley to just now 'understand' Tesla, or the Chinese manufacturers, is shameful at the least, and inept at best.

Sometimes, it's ok to reinvent the wheel.

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