GRRL! SUMMARY:
- Tesla Joins Ford In EV Production Halt of Its EV Pickup Truck, with a recent internal memo revealing a pause in production for three business days due to inconsistent scheduling and lower-than-expected demand for battery-electric pickup trucks since its launch in 2023—a concerning sign for the future of electric vehicles in the pickup segment.
- Tesla has not included the Cybertruck in any quarterly delivery reports, highlighting the ongoing struggles for this model in a competitive market where traditional gasoline-powered trucks still dominate. This situation is mirrored by Ford’s announcements of production halts for their EV F-150 Lightning, indicating a broader trend of challenges faced by electric pickup manufacturers.
- The overall consumer interest in electric vehicles seems to wane, as evidenced by a trend toward leasing rather than purchasing EVs, with 80% of electric vehicle deliveries now attributed to leases. As manufacturers scramble to offload inventory, they are resorting to significant discounts and incentive packages, underscoring the difficult climate for EV sales in the American market.
UPCOMING:
- November 2024: Ford F-150 Lightning production pause until January 2025
- Q3 2024: GMC Sierra EV Pickup on sale
- Early 2025: Ram EV Pickup Truck expected launch
- December 2024: Expected extension of Tesla Cybertruck lease pricing reductions
- January 2025: Expected field of full-size EV pickups, including Rivian R1T, Hummer EV Pickup, Ford F-150 Lightning, and Chevrolet Silverado EV Pickup, among others will outnumber traditional models
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