Ford Cuts F-150 Lightning Production. Ups Bronco and Ranger

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Ford Motor Company (NYSE: F) today announced plans to create ~900 new jobs as part of a new third crew this summer at Michigan Assembly Plant in Wayne to meet demand for the Bronco and Bronco Raptor SUVs and the all-new Ranger and Ranger Raptor pickup trucks with gasoline powertrains. Ford is also cutting production by dropping a shift at the Michigan Rouge Electric Vehicle Center building the F-150 Lightning, the top-selling electric pickup in the US. Competition is reducing demand and trimming margins. The new 1600-person third crew at Michigan Assembly will include approximately ~700 employees from Ford’s Rouge Complex in Dearborn who applied for job openings.

Ford of course is hemorrhaging red ink in its EV business as Tesla (Cybertruck), GM (Chevy, Cadillac Lyric SUV, GMC Sierra, Hummer) and Stellantis – (electrified Jeeps) increase theirs. Ford’s EV business – Model e – lost $1.3 billion on electric vehicles even though it reported 44% higher shipments of electric vehicles, and 26% revenue growth during Q3 of 2023.*

“We are taking advantage of our manufacturing flexibility to offer customers choices while balancing our growth and profitability. Customers love the F-150 Lightning, America’s best-selling EV pickup,” said Ford President and CEO Jim Farley, who last year was boasting about his ability to increase prices on the Lightning. “We see a bright future for electric vehicles for specific consumers, especially with our upcoming digitally advanced EVs and access to Tesla’s charging network beginning this quarter,” Farley claimed.

Ford estimates that  1400 employees will be impacted as the Rouge Electric Vehicle Center transitions to one shift effective 1 April. Roughly 700 will transfer to Michigan Assembly Plant and the others will be placed in roles at the Rouge Complex or other facilities in Southeast Michigan, or take advantage of the Special Retirement Incentive Program agreed to in the 2023 Ford-UAW contract.

A few dozen employees could be impacted at component plants supporting F-150 Lightning production, depending on the number of employees who apply for the Special Retirement Incentive Program. Ford said it would provide placements for impacted employees within Southeast Michigan.

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• *Ford Motor 2023 Q3 Net income $1.2 Billion