Last year marked a banner performance for all-electric vehicles as consumers in the U.S. purchased a record 1.2 million of them, and Ford set its own personal record in that regard, too. In fact, the Ford F-150 Lightning closed out 2023 as the best-selling EV pickup and one of the top-selling EVs overall, though slowing demand toward the end of the year has changed the automaker’s outlook for 2024. In fact, 2024 Ford F-150 Lightning production will be cut in half compared to its original plan, and in an effort to spur sales, FoMoCo is also making changes to its dealer invoice pricing. In the meantime, Ford F-150 Lightning inventory across the U.S. closed out 2023 at a pretty high level, according to new data from S&P Global Mobility.
While Lincoln inventory finished 2023 at one of the highest levels of any automotive brand – more than double the national average, in fact – Ford F-150 Lightning inventory grew from 3,200 units in August to 13,000 at the end of December. At the same time, the average MSRP of F-150 Lightning pickups was roughly $74,000 at the end of the month and year, compared to a hefty $80,000 plus an $8,000 premium in December 2022.
Ford F-150 Lightning inventory did close out the year far lower than the Ford Mustang Mach-E, but it still ranked above a number of other all-electric models at the same time. In that regard, several other EVs – including the Volkswagen ID.4, Hyundai Ioniq 5, Chevy Bolt, and Hyundai Ioniq 6 – all finished up 2023 with lower inventory levels than the Ford duo, though as S&P pointed out, at least two of them – the ID.4 and Hyundai Ioniq family – have since leveled off and are largely keeping up with sales at the moment.