Ford’s Electric Vehicle Struggles: F-150 Lightning Sales Plummet Despite Strong Overall Performance

• Ford Motor Co.’s U.S. sales in May were strong, with a 16.3% increase from the same month in 2024.
• However, sales of the company’s flagship electric vehicle, the F-150 Lightning, collapsed, falling 41.7% in May to just 1,902 units.
• The disappointing EV sales raise concerns about Ford’s ability to meet its ambitious goal of delivering more than 2 million electric vehicles annually by 2026.

Ford Motor Co. (NYSE: F) reported impressive overall U.S. sales figures for May, with a 16.3% increase compared to the same month in 2024. The company sold 220,959 vehicles, largely driven by the success of its top-selling product, the F-Series pickup, which saw a 14.9% rise in sales to 79,817 units. The F-Series alone accounted for over a third of Ford’s total sales for the month, cementing its position as the nation’s leading fossil-fuel-powered vehicle for decades.

However, the company’s electric vehicle (EV) sales, particularly those of its flagship EV, the F-150 Lightning, were a major disappointment. Lightning sales plummeted 41.7% in May, with only 1,902 units sold, equating to a mere 63 vehicles per day nationwide.

The F-150 Lightning was launched on April 26, 2022, with high hopes and ambitious promises from Ford’s leadership. CEO Jim Farley declared, “America’s real transition to electric vehicles starts now,” and stated that the company was on track to deliver more than 2 million electric vehicles annually by 2026, representing about one-third of Ford’s global volume. The goal was to reach 50% by 2030.

Despite the marketing strategy of leveraging the well-known F-150 brand by adding “Lightning” to its name, the electric version failed to gain the expected sales momentum. The disappointing performance led Ford to pause production of the Lightning from October 31, 2024, until the start of 2025, citing a lack of demand.

The failure of the F-150 Lightning is particularly concerning for Ford, as the company had hinged its EV strategy on the success of this model. By using its most famous brand as the spearhead for its move into the electric vehicle sector, Ford had hoped to establish a strong foothold in the market. However, the stunning failure of this plan raises doubts about the company’s ability to meet its ambitious EV targets.

The lackluster EV sales have contributed to Ford’s stock underperformance, with shares down 15% in the past year while the broader market has gained 13%. This stark contrast underscores the importance of a successful EV strategy for the company’s future prospects.

As the automotive industry continues to shift towards electric vehicles, Ford’s inability to capitalize on the trend with its flagship EV model is a cause for concern. The company will need to reevaluate its approach and address the underlying issues that have led to the disappointing sales of the F-150 Lightning if it hopes to remain competitive in the rapidly evolving market.