F-150 Lightning Is One Of The Slowest Selling Used Vehicles: Is This Bad News Before Cybertruck Launch?

Ford Motor Company‘s F electric pickup truck was one of the slowest-selling used vehicles in the month of October. This could be bad news for one of the automaker’s rivals.

What Happened: A report from iSeeCars, shared by Teslarati, highlights that the F-150 Lightning ranked as the eighth-slowest-selling used vehicle in October. It took an average of 78.4 days to sell, which was 1.6x the average of 49.2 days.

The results show that used EVs might be having a tougher time to sell in recent months, with an average of 52.4 days in the month of October, above the overall average of 49.2 days.

"Most of today's slowest-selling used cars are premium models or electric vehicles," iSeeCars Executive Analyst Karl Brauer said. "The F-150 Lightning, Ford's electric truck based off the best-selling vehicle in the U.S. is also struggling to find buyers."

Related Link: EXCLUSIVE – Cathie Wood Says Cybertruck Will ‘Expand The Truck Market’

Why It's Important: Total electric vehicle sales for Ford in the third quarter were 36,000 units, which were up 44% year-over-year.

Sales of the F-150 Lightning were 3,503 in the third quarter, which was down 46% year-over-year.

The company's Model e segment is a money-losing division for Ford with an EBIT loss of $1.3 billion in the third quarter and a year-to-date loss of $3.1 billion through the first nine months.

Sales of new and used F-150 Lightning vehicles could come under additional pressure soon with the highly anticipated launch of the Cybertruck from Tesla Inc TSLA on Thursday.

Tesla will begin deliveries and begin scaling production of the highly anticipated pickup truck. Reservations for the Cybertruck are over one million units according to the company and over two million units based on third-party estimates.

Tesla did not communicated prices for the Cybertruck yet. It could be a big item to watch on Thursday. How the price of the Cybertruck compares to the F-150 Lightning and R1T from Rivian Automotive RIVN could become a major factor moving forward.

Tesla expects to increase Cybertruck production to 250,000 annual units by 2025. This will likely make the vehicle the bestselling electric pickup truck annually.

The F-150 pickup truck from Ford has been the top-selling vehicle in the U.S. for more than 40 years. The Lightning was expected to be one of the bestselling electric pickup trucks. With several setbacks, the Lightning could now struggle to meet expectations and could quickly fall behind Tesla despite an earlier market entry.

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