Ford has halted shipments of its 2024 F-150 Lightning EV pickup and solely simply began delivery its model new 2024 F-150 gas-powered truck after a multi-week delay, as a consequence of high quality checks. A delay affecting Ford’s high-profit F-150 gross sales and extra doable EV troubles might doubtlessly impression Ford’s first quarter efficiency.
Automotive Information first reported {that a} 2024 F-150 Lightning “stop-ship” order went into impact Feb. 9 as a consequence of an undisclosed high quality concern and that “lots of, if not 1000’s” 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 delivery the primary newly designed F-150 pickups to sellers this week. MY24 Lightnings began delivery 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 had been nonetheless underneath a “stop-ship” order, a Ford spokesperson solely mentioned, “We are going to ramp shipments as soon as high quality checks are accomplished,” and didn’t handle 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 mentioned Ford had “began delivery F-150 XL and STX models to clients, and can proceed to ramp up shipments to incorporate the opposite collection as they go 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 be prioritizing pushing out extra hybrid F-150s, which had been widespread amongst its consumers, and has been frequently 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 models final yr, up 54% from 2022.
Whereas first shipments of F-150 gasoline and Lighting EV pickups are nonetheless according to 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 “primarily no communication from Ford.”
Ford CEO Jim Farley has mentioned 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 mentioned in the course of 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 fulfill its 2024 steerage. 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 increased than estimates of $9.24 billion.
Pras Subramanian is a reporter for Yahoo Finance. You’ll be able to observe him on Twitter and on Instagram.
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