Ford Pauses F-150 Lightning Deliveries, Scales Back EV Production Amid Slowing Demand and Quality Concerns
• Ford has temporarily stopped deliveries of F-150 Lightning EVs due to an unspecified quality issue. No timeframe given for resuming shipments.
• Ford is seeing slowing demand for EVs, partly due to high interest rates and increased competition putting pressure on profit margins.
• Ford cut prices on the Mustang Mach-E to try to stimulate EV demand and sales growth.
• Ford plans to scale back F-150 Lightning production to better balance capacity, sales growth and profitability.
• Analysts have a Hold rating on Ford stock, with a $13.60 average price target implying limited 12% upside potential.