Ford's F-150 Lightning faces competition as new electric pickups enter the market
Ford's electric F-150 Lightning is facing increased competition from new electric pickups like the Tesla Cybertruck and Chevy Silverado EV. Sales of the Lightning dropped 15.5% in January compared to the previous year, while the Mustang Mach-E saw a significant sales increase. Ford plans to introduce smaller, more affordable EVs, but these models won't be available until at least 2027. The company is also dealing with potential tariffs on imports from Mexico, where the Mustang Mach-E is produced. Ford's electric vehicle unit reported a loss of around $5 billion last year, with similar losses expected in 2025. The company has delayed several key electric vehicle projects, allowing competitors to gain market share.