Lightning shipments halted by Ford
Logistics Pro
Joined: May 2021
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it’s good the owners who already have them love them, because with their depreciation. It will be a shock to the owners if they try to sell it or trade it in on something else. The data I have seen last quarter seems to indicate Lightning’s lose 40-60% of their value i the first year depending on trim. Those who financed it are almost all underwater unless they put down over 30% down payment and making more than minimum payments.
My gas F250 lost 20% of its value(52k down to 42k) on trade in after two years and 12k miles, as I’m doing some research to see if I want to sell it since my work has changed and doesn’t require a 3/4 ton as much.
My gas F250 lost 20% of its value(52k down to 42k) on trade in after two years and 12k miles, as I’m doing some research to see if I want to sell it since my work has changed and doesn’t require a 3/4 ton as much.
Super Moderator
Joined: Aug 2003
Posts: 25,479
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From: Isanti, MN
“The Lightning SUCKS. I can’t believe Ford even sells them.”
“Mine is pretty great.”
“I like mine, too!”
”It’s good that you like them, because they’re worthless now.”
“Mine is pretty great.”
“I like mine, too!”
”It’s good that you like them, because they’re worthless now.”
FTE Community Team
Joined: Mar 2017
Posts: 3,339
Likes: 1,053
From: Florida
it’s good the owners who already have them love them, because with their depreciation. It will be a shock to the owners if they try to sell it or trade it in on something else. The data I have seen last quarter seems to indicate Lightning’s lose 40-60% of their value i the first year depending on trim. Those who financed it are almost all underwater unless they put down over 30% down payment and making more than minimum payments.
My gas F250 lost 20% of its value(52k down to 42k) on trade in after two years and 12k miles, as I’m doing some research to see if I want to sell it since my work has changed and doesn’t require a 3/4 ton as much.
My gas F250 lost 20% of its value(52k down to 42k) on trade in after two years and 12k miles, as I’m doing some research to see if I want to sell it since my work has changed and doesn’t require a 3/4 ton as much.
You screwed up buying a gas F250. You should have bought a F-450.
My 2022 F-450 King Ranch went up $4.1k in value from purchase price of $83.9k and sold it tho a wholesaler for $89k 2 months ago.Contact https://texasautovalue.com/ for a cash quote.
My 2023 Lightning Lariat Extended Range was purchased for $61k after dealer discount, Rebate, tax credit and ECO. A 40-60% depreciation would bring the value down to $25k-36k. I'm sure it's worth more than that. Paid cash so I'm not upside down.
Logistics Pro
Joined: May 2021
Posts: 4,012
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Such is life. The reality is that all 4 can be true at the same time:
(1) F150 Lightnings are in fact experiencing severe over-inventory problem on dealer lots with lack of new buyers to buy new units.
(2) Owners who did buy one can absolutely be very satisfied since it suits their specific needs. But very few are going out and buying another one right now to alleviate (1)
(3) The resale value on F150 Ligntnings are in fact dismal, like many EVs are seeing. 2024 Lightnings that are being sold for >90k sticker price have trade in values in the upper 30s range when classified as "used" with less than 1000 miles across multiple car buying offer platforms(Carmax, Carvana, KBB Cash offers).
Now, the same can be said about Teslas, Hyundai EVs, Nissan EVs, what have you. It is not a situation unique to F150 Lightnings, but it does not make it any less the reality.
(1) F150 Lightnings are in fact experiencing severe over-inventory problem on dealer lots with lack of new buyers to buy new units.
(2) Owners who did buy one can absolutely be very satisfied since it suits their specific needs. But very few are going out and buying another one right now to alleviate (1)
(3) The resale value on F150 Ligntnings are in fact dismal, like many EVs are seeing. 2024 Lightnings that are being sold for >90k sticker price have trade in values in the upper 30s range when classified as "used" with less than 1000 miles across multiple car buying offer platforms(Carmax, Carvana, KBB Cash offers).
Now, the same can be said about Teslas, Hyundai EVs, Nissan EVs, what have you. It is not a situation unique to F150 Lightnings, but it does not make it any less the reality.
Logistics Pro
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@twobelugas,
You screwed up buying a gas F250. You should have bought a F-450. My 2022 F-450 King Ranch went up $4.1k in value from purchase price of $83.9k and sold it tho a wholesaler for $89k 2 months ago.
Contact https://texasautovalue.com/ for a cash quote.
You screwed up buying a gas F250. You should have bought a F-450.
My 2022 F-450 King Ranch went up $4.1k in value from purchase price of $83.9k and sold it tho a wholesaler for $89k 2 months ago.Contact https://texasautovalue.com/ for a cash quote.
I highly doubt I would have the same luck with F450s, that's why you had great luck in turning int around because Ford is as good as churning out F450s as they are at cranking out Rangers. In any case an F450 would have been way overkill for me, and a 20% depreciation over 2 years is something I can live with. I bought it with cash so no interest payment to anyone either.
Thank you for the link, I will check it out! I haven't sold my truck yet, as I still use it off and on, but the business condition where I am is causing me to change my work scope so the sale is on the horizon, not yet though. I may decide to keep it after all, 42k is not going to affect my finances one way or another, I just might hold onto it and re-gear it with 4.88 to go with 37s and build it into my personal offroad truck.
Logistics Pro
Joined: May 2021
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My Local Ford Dealer is still slapping on 5k Market Adjustments on the 20 or so Lightnings on their lot. I don't think those puppies are going anywhere any time soon.
FTE Community Team
Joined: Mar 2017
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From: Florida
MSRP - $79,785
Selling Price - $69965
Rebates - $13250
POS Tax credit - $7500
Selling price - $49215
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That $20k for a GT is crazy...
Logistics Pro
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They need the margin to offset the cost to make them. All the car makers especially domestic ones who came out with EVs completely dropped the ball and thought they can compete with Tesla with bloated models that will get brand loyal buyers chomping at the bits and willing to go upmarket. I think, nay, it is evident, that everyone at Ford GM and Stellantis didn't bother asking real people on the street if they are willing to pay Lexus TX or BMW X5 money for a Ford or GM EV.
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FTE Leadership Emeritus
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From: Lake Hartwell, GA
Looks like Ford is pulling back on the reins again.
Headline: Ford drastically cuts workforce at F-150 Lightning EV plant amid ‘much slower’ demand
Link: https://electrek.co/2024/03/28/ford-...ning-ev-plant/
Headline: Ford drastically cuts workforce at F-150 Lightning EV plant amid ‘much slower’ demand
Link: https://electrek.co/2024/03/28/ford-...ning-ev-plant/
Super Moderator
Joined: Aug 2003
Posts: 25,479
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From: Isanti, MN
Looks like Ford is pulling back on the reins again.
Headline: Ford drastically cuts workforce at F-150 Lightning EV plant amid ‘much slower’ demand
Link: https://electrek.co/2024/03/28/ford-...ning-ev-plant/
Headline: Ford drastically cuts workforce at F-150 Lightning EV plant amid ‘much slower’ demand
Link: https://electrek.co/2024/03/28/ford-...ning-ev-plant/
Originally Posted by Fortune Magazine 1/19/2024
About 1,400 employees will be impacted as the Rouge Electric Vehicle Center transitions to one shift beginning April 1, the Dearborn, Michigan-based automaker said Friday in a statement.
From that InsideEVs article:
Right now, we’re looking at 55,000 units they’re gonna build,” according to Todd Dunn, president of UAW Local 862.
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FTE Leadership Emeritus
Joined: May 2014
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From: Lake Hartwell, GA
Not “again,” this is the same cut that was announced in January.
https://fortune.com/2024/01/19/ford-...k-weak-demand/
From that InsideEVs article:
That’s more than twice as many as they made last year.
https://fortune.com/2024/01/19/ford-...k-weak-demand/
From that InsideEVs article:
That’s more than twice as many as they made last year.
According to Ford spokeswoman Jessica Enoch, one-third of the 2,100 workers will remain at the plant starting April 1, 2024.
700 workers will be transferred to its Michigan Assembly plant to help build the Bronco and Ranger. Meanwhile, the remaining 700 can either take the $50,000 retirement package from the 2023 contract negotiations, or be reassigned to is Michigan Assembly plant.
Ford’s workforce reduction at the F-150 Lightning plant will not include job losses.
In January, Spokesperson Martin Gunsberg told Electrek that the facility had been running with three crews working two shifts. Starting next week, it will go down to one crew working one shift.
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