Ford Plans to Double Hybrid Production of F-150 Pickup Truck
Introduction
Ford Motor plans to increase production of the hybrid version of its F-150 pickup truck as it faces slower sales of its all-electric vehicles. The company expects to double sales of the V-6 hybrid model during the 2024 model year in the U.S.
Challenges
Ford and other automakers may face a potential strike by the United Auto Workers, which could impact production. Separate deals need to be reached with the UAW by Thursday to avoid work stoppages.
CEO’s Statement
Ford CEO Jim Farley stated that the company is balancing growth, profitability, and returns. He believes there will be a durable demand for internal combustion and hybrid vehicles, potentially longer than expected.
F-150 Hybrid as Best-Selling
Kumar Galhotra, president of Ford’s traditional “Blue” business unit, believes that the F-150 could become the best-selling hybrid in North America, surpassing Toyota’s RAV4 or Prius.
Impact on Union and Jobs
Ford’s focus on hybrid vehicles retains engine manufacturing jobs, benefiting the union. Hybrid vehicles improve performance and fuel economy through a combination of internal combustion engines and small batteries.
Price and Production Increase
Ford has not disclosed specific pricing for the 2024 F-150 hybrid model. The decision to increase production was driven by high demand for hybrid models, outpacing production capacity for the F-150 and Ford Maverick.
Transition to Electrification
According to John Emmert, Ford truck general manager, the hybrid models serve as a step toward electrification. For some customers, full electrification may not be the ideal solution, and hybrid options provide a smoother transition.
Engine Lineup and Customer Needs
Ford offers a range of engine options to meet different customer needs. Some customers require V-8 engines for towing and range, while all-electric vehicles may not be suitable for rural areas.
2024 Model Updates
Ford has announced refreshed versions of the F-150 for the 2024 model year. The lineup will start at $35,570, and new features include a redesigned tailgate and various safety and convenience enhancements.
