Ford F-150 Lightning Surpasses Tesla Cybertruck In Buyer Interest, Reveals Study

The latest study by Cox Automotive reveals that Ford Motor Co.’s F F-150 Lightning has captured the hearts of electric pickup enthusiasts, overshadowing Elon Musk-led Tesla Inc.’s TSLA soon-to-launch Cybertruck. 

What Happened: The study published earlier this week highlighted the immense influence of brand strength, particularly in the full-size pickup truck segment. “Consumers shopping for electric pickup trucks are not all that different from their ICE-considering counterparts.” 

“Shoppers are more likely to consider full-size EV trucks from brands they know or currently own,” the study stated. 

Vanessa Ton, senior manager of market and customer research at Cox Automotive, noted that Ford’s historical success in the truck sector had established deep and fierce consumer loyalty.

“Ford’s full-size pickup has long been the best-selling, best-example of the genre, so perhaps it is no surprise that the F-150 Lightning arrives with a leg up on the competition,” Ton said. 

See Also: Ford’s Subscription Strategy: How A Former Apple And Tesla Employee Is Changing The Game

The Ford F-150 Lightning impressively secured the top spot across all evaluated categories: driving range, performance, price, appearance and technological advancement. 

On the other hand, despite Tesla’s crowd-sourced tracker indicating 1.9 million pre-orders for the Cybertruck, the study expressed skepticism, considering the figures remain unverified by the EV giant. 

It stated that the actual litmus test would unfold post-launch when tangible market dynamics come into play, as pre-orders might not accurately translate into sustained buyer interest.

Apart from Ford and Tesla, other EV counterparts that were included in the study were Chevy, General Motors Co GM (Hummer), Ram Truck and Rivian Automotive Inc. RIVN. The survey was conducted during July and August, with two previous rounds of similar research by Cox Automotive conducted in late 2020 and the spring of 2022. 

Why It’s Important: The Cox Automotive study has reshaped perceptions of the EV pickup landscape, with the F-150 Lightning asserting its dominance over Tesla’s Cybertruck.

However, in July earlier this year, Ford reduced prices of its F-150 Lightning pickup truck by up to $9,979, and investors reacted to the news by sending the company’s stock lower. 

At the time, an analyst said that the 17% price cut announced by Ford showed the legacy automaker’s worries about Tesla’s Cybertruck. 

During the same time, the Musk-led company announced that the first Cybertruck rolled off the production line. The long-awaited vehicle from the company’s stable could begin deliveries later this quarter.

Read Next: Ford, GM May Take A Leaf from Elon Musk’s Tesla Playbook For Success: Fewer Options, More Profit

Photo by Mike Mareen on Shutterstock