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, because 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 because of an undisclosed high quality problem and that “hundreds, if not thousands” of gas-powered 2024 F-150 vans have been piling up in Ford holding tons since manufacturing started in December, earlier than deliveries started late final week.
“We started shipping the first newly designed F-150 pickups to dealers this week. MY24 Lightnings started shipping last month,” a Ford spokesperson informed Yahoo Finance. “We expect to ramp up shipments in the coming weeks as we complete thorough launch quality checks to ensure these new F-150s meet our high standards and delight customers.”
When requested to verify whether or not MY24 Lightnings have been nonetheless beneath a “stop-ship” order, a Ford spokesperson solely mentioned, “We will ramp shipments once quality checks are completed,” 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 mentioned Ford had “started shipping F-150 XL and STX units to customers, and will continue to ramp up shipments to include the other series as they pass our quality checks.”
Ford up to date the F-150 product line for the 2024 mannequin 12 months 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 common amongst its consumers, and has been frequently updating the Lightning EV to enhance its function set and value profile.
The F-150 pickup is the bestselling car in America, with Ford promoting over 700,000 vans within the US, up practically 15% from a 12 months in the past. F-150 Lightning gross sales topped 24K items final 12 months, up 54% from 2022.
Whereas first shipments of F-150 gasoline and Lighting EV pickups are nonetheless consistent with Ford’s “early 2024” gross sales timeline, Automotive Information reported some F-150s have been sitting in holding tons since late December, with one industrial buyer telling the publication that the supply date for practically 100 vans has been delayed by eight weeks and that they’ve acquired “essentially 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 recollects of any producer within the U.S. final 12 months. Whereas the automaker says it’s engaged on fixing these operational points, CFO John Lawler mentioned through the firm’s This autumn earnings name that guarantee prices will nonetheless be equal to final 12 months, though there are some “green shoots” seen in high quality enhancements.
For Ford, a powerful rollout of its F-150 line and value reductions within the guarantee and recall space are essential for the automaker to satisfy 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 possibly can comply with him on Twitter and on Instagram.
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