Effective 9/13/24, Ford will be cutting off orders for the following models:
And as an additional reminder, the 2024 F150 I.C.E. final order have a due date of 8/23/24.
Ford Shifts Focus to Hybrids, Delays EV Plans Amid Cost Pressures
Ford is canceling its electric three-row SUV and delaying its next-gen electric truck to late 2027, aiming to cut costs amid weakening EV demand. Instead, Ford will focus on hybrid technology for its upcoming SUVs, resulting in a $400 million write-down and potential costs up to $1.5 billion. The shift will reduce Ford's EV capital expenditures and refocus efforts on a new commercial van and a mid-sized electric pickup, set for release in 2026 and 2027, respectively. CEO Jim Farley stressed the importance of affordable battery production, with new battery cells to be produced in Kentucky and Tennessee by 2025.
Fleet Sales Projected to Normalize in 2024 Across Key Segments
Bobit Research data shows that light-duty fleet sales across commercial, government, and rental segments are trending below 2023 levels, with projections for 2024 reflecting this decline. Commercial fleet sales, which saw strong recovery in 2023 due to demand in construction and delivery, are now trending lower for 2024 and are expected to soften through 2025. Rental fleets, which rebounded significantly in 2022-2023, are expected to see 2024 sales at least 40% below 2019 levels. Government fleet sales, which faced later disruptions, have reverted to normal purchasing patterns and are expected to slightly exceed 2023 and 2019 figures. Overall, fleet sales in 2024 are anticipated to fall just short of 2023 levels and remain 22% below 2019 sales.