Ford has halted shipments of its 2024 F-150 Lightning EV pickup and solely simply began transport its model new 2024 F-150 gas-powered truck after a multi-week delay, because of high quality checks. A delay affecting Ford’s high-profit F-150 gross sales and extra doable EV troubles may doubtlessly affect Ford’s first quarter efficiency.
Automotive Information first reported {that a} 2024 F-150 Lightning “stop-ship” order went into impact Feb. 9 because of an undisclosed high quality concern and that “lots of, if not hundreds” of gas-powered 2024 F-150 vehicles have been piling up in Ford holding heaps since manufacturing started in December, earlier than deliveries started late final week.
“We began transport the primary newly designed F-150 pickups to sellers this week. MY24 Lightnings began transport final month,” a Ford spokesperson informed Yahoo Finance. “We anticipate to ramp up shipments within the coming weeks as we full thorough launch high quality checks to make sure these new F-150s meet our excessive requirements and delight clients.”
When requested to verify whether or not MY24 Lightnings have been nonetheless underneath a “stop-ship” order, a Ford spokesperson solely stated, “We’ll ramp shipments as soon as high quality checks are accomplished,” and didn’t tackle whether or not the “stop-ship” had been lifted. Ford did affirm that F-150 trim ranges, such because the Lariat, Restricted, and Platinum, are delayed.
With regard to high quality points holding up F-150 fuel and hybrid-powered deliveries, the identical Ford spokesperson stated Ford had “began transport F-150 XL and STX items to clients, and can proceed to ramp up shipments to incorporate the opposite sequence as they cross our high quality checks.”
Ford up to date the F-150 product line for the 2024 mannequin yr with exterior styling enhancements and an up to date inside, amongst different issues. Ford can also be prioritizing pushing out extra hybrid F-150s, which have been in style amongst its patrons, and has been regularly updating the Lightning EV to enhance its function set and price profile.
The F-150 pickup is the bestselling car in America, with Ford promoting over 700,000 vehicles within the US, up practically 15% from a yr in the past. F-150 Lightning gross sales topped 24K items final yr, up 54% from 2022.
Whereas first shipments of F-150 gasoline and Lighting EV pickups are nonetheless in step with Ford’s “early 2024” gross sales timeline, Automotive Information reported some F-150s have been sitting in holding heaps since late December, with one business buyer telling the publication that the supply date for practically 100 vehicles has been delayed by eight weeks and that they’ve acquired “basically no communication from Ford.”
Ford CEO Jim Farley has stated time and time once more that Ford must get previous high quality points. Ford as soon as once more had essentially the most remembers of any producer within the U.S. final yr. Whereas the automaker says it’s engaged on fixing these operational points, CFO John Lawler stated through the firm’s This fall earnings name that guarantee prices will nonetheless be equal to final yr, though there are some “inexperienced shoots” seen in high quality enhancements.
For Ford, a robust rollout of its F-150 line and price reductions within the guarantee and recall space are essential for the automaker to satisfy its 2024 steering. Earlier this month Ford projected 2024 adjusted EBIT of $10 billion to $12 billion — beneath Ford’s pre-UAW strike 2023 revenue outlook of $11 billion to $12 billion, however larger than estimates of $9.24 billion.
Pras Subramanian is a reporter for Yahoo Finance. You may comply with him on Twitter and on Instagram.
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