Jim Farley Celebrates Record Sales For Ford’s F-150 Lightning As Tesla’s Cybertruck Hits The Road – Tesla (NASDAQ:TSLA), Ford Motor (NYSE:F)

Ford’s all-electric truck, the F-150 Lightning, achieved record sales in November, according to CEO Jim Farley. This news comes just a day after Tesla started delivering its highly anticipated all-electric Cybertruck to customers.

Ford reported that it delivered nearly 4,400 Lightning trucks in November, representing a more than 100% increase compared to the previous year. It was also the best-ever sales month for the vehicle. This surge in sales demonstrates a strong demand for electric trucks and a positive response to Ford’s offering.

The Cybertruck, which is made of stainless steel and draws inspiration from movies like “Blade Runner” and “The Spy Who Loved Me,” poses direct competition to the F-150 Lightning. Additionally, Rivian’s R1T electric truck is another contender in this growing market segment.

While the Cybertruck has generated significant hype, with a handful of users receiving deliveries, the Lightning’s lower price points may give it an edge. The lowest-priced Cybertruck starts at $60,990, whereas the 2023 Lightning’s lowest-priced Pro model starts at $49,995. Even the highest-priced Lightning model, the Platinum, is priced lower than the high-end Cybertruck version called the Cyberbeast.

The November sales figures for the Lightning mark a bounce back in demand for the vehicle. In the third quarter, F-150 Lightning sales dropped by nearly 46% to 3,503 units. However, the recent surge in sales suggests that the Cybertruck’s arrival has not dampened the demand for the Lightning.

Farley has previously dismissed the Cybertruck as a “cool high-end product parked in front of a hotel” and emphasized that Ford makes trucks for real people who do real work. This positioning sets Ford’s prospective customer base apart from the Silicon Valley-focused Cybertruck.

The competition between Ford and Tesla in the electric truck market will be an interesting one to watch. Both companies have invested heavily in electric vehicles, and their respective offerings cater to different segments of the market. Ford’s success with the F-150 Lightning in November indicates a strong start, and it will be intriguing to see how the market evolves as more electric trucks enter the scene.

In conclusion, Ford’s F-150 Lightning achieved record sales in November, demonstrating a strong demand for electric trucks. Despite the arrival of Tesla’s Cybertruck, the Lightning’s lower price points and target audience may give it an advantage. The competition between Ford and Tesla in the electric truck market will continue to unfold, shaping the future of mobility.