Ford to Double Production of Hybrid F-150 Pickup Trucks Amid Slow Sales of Electric Vehicles
In a bid to combat slow sales of its all-electric vehicles, Ford has announced plans to double the production of its hybrid version of the F-150 pickup truck. The American automaker aims to increase sales of the hybrid model to approximately 20% during the 2024 model year, a move that could potentially equate to tens of thousands more hybrid vehicles hitting the market.
However, meeting this production target could prove to be a challenge, as the United Auto Workers union threatens to go on strike, which would effectively shut down factories. Despite this potential obstacle, Ford CEO Jim Farley remains optimistic, stating that the company remains committed to quadrupling the production of gas-electric hybrids, taking a slower approach to increasing its electric vehicle (EV) production.
Ford’s decision to prioritize hybrid vehicles over EVs stems from its belief that demand for internal combustion and hybrid vehicles will continue to be robust, especially in North America. In fact, the company anticipates that the F-150 hybrid could potentially surpass Toyota’s RAV4 and Prius to become the best-selling hybrid in the region.
This renewed focus on hybrid vehicles not only aims to boost sales figures but also has the added benefit of retaining engine manufacturing jobs for the United Auto Workers union. By offering the hybrid version of the F-150 with a 3.5-liter V-6 “PowerBoost” engine at the same price as Ford’s 3.5-liter V6 EcoBoost engine, the automaker hopes to attract customers who may not yet be ready to fully embrace electric vehicles.
Furthermore, the 2024 F-150 comes with a new tailgate design that allows for easier access to the vehicle’s bed, enhancing its practicality and convenience.
Although Ford has not released specific pricing details for the 2024 F-150 hybrid model, the decision to increase production was undoubtedly driven by the high demand for hybrid models, which has consistently outpaced production capacity. In fact, more than 60% of sales for Ford’s Maverick small pickup are hybrids.
As Ford continues to transition towards electrification, it firmly believes that hybrid vehicles are the ideal solution for customers who are not yet prepared to fully embrace electric vehicles. With its strategic emphasis on hybrid technology, Ford aims to strike a balance between meeting customer demands and nurturing the inevitable shift towards electric vehicles in the future.
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