Following a much-hyped debut that prompted more than 100,000 customers to place a deposit for one, the Ford F-150 Lightning remained a difficult vehicle to find – at least at MSRP – for some time, and commanded a premium on the used market, too. However, as is typically always the case, supply eventually caught up with demand, and F-150 Lightning production has slowed – along with sales. To help spur those fledgling sales, the Ford F-150 Lightning has since been treated to discounts and incentives designed to make it a more enticing buy, but according to new data from iSeeCars, used versions of the EV pickups are not only among the slowest-selling vehicles of any kind on that particular market, but it’s also one of the slowest-selling used EVs, too.
Among all used EVs currently on sale, the Ford F-150 Lightning ranked only behind the Kia EV6 in terms of how long it’s languishing on dealer lots at 78.4 days, on average, compared to the EV6 at 95.9 days. That latter figure is 1.5 times longer than the average used EV, which comes in at just 52.4 days.
To come up with this data, iSeeCars analyzed over 2.3 million new and one-to-five-year-old used cars sold in October 2023, after which the average list prices and days-to-sell for each model were aggregated and compared. For new vehicles, list prices were compared to MSRP, and for used models, list prices were compared to prices from October 2022.
“Even with massive price drops, electric vehicles are selling slower than gasoline and hybrid vehicles,” said Karl Brauer, iSeeCars executive analyst. “This combination of lower prices and slower sales suggests EVs have hit a market demand threshold that will be difficult to break through. Everything from economic concerns to growing competition among electric vehicles is contributing to their downward trend. The F-150 Lightning, Ford’s electric truck based off the best-selling vehicle in the U.S., is also struggling to find buyers.”