Ford Motor (F) CEO Jim Farley said yesterday, December 9, that pre-orders for the soon-to-launch F-150 Lightning pickup truck are so great that it had to stop taking reservations.
“We are completely oversubscribed with our battery electric vehicles, Lightning especially,” Farley told Jim Cramer in a CNBC interview. “We had to stop reservations we got so many. We stopped at 200,000, and those are orders. Hard orders.” Farley said Ford is pushing full production capacity at “70,000 or 80,000 units” of the Lightning, the all-electric version of America’s decades-long best-selling F-series pickup truck. “We’re going to try to double that,” he said. “We’ve done it in the past. Don’t bet against Ford when we have to increase capacity. This is what we do.”
The Lightning is expected arrive in dealerships by mid-2022.
Ford shares were up 9.81% today, Friday, December 10 as of the New York close.
Ford has been a member of my Jubak Picks Portfolio since June 9, 2021. The position is up 37% since then as of the close on December 10.