Ford CEO: F-150 Lightning has nearly 45,000 reservations

Jordyn Grzelewski
The Detroit News
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Less than two days since Ford Motor Co.'s unveiling of an electric version of its best-selling pickup truck, the automaker said it already had received nearly 45,000 reservations for F-150 Lightning.

Ford CEO Jim Farley said Friday on Twitter that the company had received more than 44,500 reservations. Ford opened up reservations Wednesday night upon the reveal, allowing customers to put down a $100 deposit to reserve a truck. They will later be asked to place an actual order.

The update came after Farley told CNBC Thursday that the Dearborn automaker had netted about 20,000 reservations from Wednesday night to Thursday morning.

The Blue Oval revealed F-150 Lightning Wednesday night, to much fanfare, via a livestreamed event from Ford World Headquarters. The unveiling followed President Joe Biden's visit Tuesday to the Rouge Electric Vehicle Center, where union workers will build the electric truck beginning next spring.

Among the details revealed this week about the electric version of America's best-selling truck: the price starts at $39,974, it targets an estimated EPA range of up to 300 miles with an extended battery range option, and features what Ford is billing as the industry's largest "frunk," or front trunk.

Ford reveals the F-150 Lightning electric pickup projected on the side of Ford World Headquarters in Dearborn, Mich. on May 19, 2021.

Jessica Caldwell, executive director of insights for Edmunds.com, said there are a few reasons prospective customers might be pre-ordering F-150 Lightning in such high numbers.

"One, it's a high-volume vehicle, and two, truck inventory has been pretty low recently," she said. A global shortage of semiconductor chips has hit auto production worldwide, crimping inventories and vehicle options on dealer lots.

"So if you're thinking about buying a truck or you're interested, $100 is a low barrier to entry to get on a list for something that you may really want next year," said Caldwell.

And, she noted, electric trucks are a brand-new segment. Consumers may be interested in getting behind the wheel of a cutting-edge vehicle, and some may be reserving electric trucks from multiple manufacturers that are slated to roll them out in the coming months, so they can leave their options open for now.

jgrzelewski@detroitnews.com

Twitter: @JGrzelewski

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