Ford Motor recently announced it is slashing prices on its F-150 Lightning, an electric vehicle the company rolled out in 2021.
The Lightning now carries a suggested retail price of $49,995, about $10,000 lower than its previous recommended price tag ($59,974), a reduction the company says is possible because of lower “battery raw material costs and continued work on scaling production and cost.”
It’s certainly possible that reduced overhead from battery minerals and production costs played a role in Ford’s decision to trim its price tag by nearly 20 percent, but that may be only half the story.
Several reports show EVs are not exactly flying off dealership lots. In fact, there’s a glut of them.“After a prolonged period in which EVs quickly disappeared from dealerships, the electric vehicle industry now has the opposite problem: unsold models are piling up,” reported Money last week. “About 92,000 EVs currently sit on dealers’ lots; […]
Read the Whole Article From the Source: fee.org
