By Nora Eckert
DETROIT (Reuters) – Ford Motor (F) is making an attempt to get extra of its managers to purchase electrical automobiles, in line with an inside electronic mail the automaker despatched final week that was reviewed by Reuters.
The Dearborn, Michigan-based firm modified a leasing program it affords to eligible present and former managers, now requiring them to order an electrical Mustang Mach-E SUV or F-150 Lightning pickup in the event that they want to lease a supplemental automobile. Employees are allowed a set variety of leased automobiles, usually one to 2, relying on their administration stage, earlier than ordering a supplemental automobile.
That is the primary time Ford has restricted workers to purchasing EVs for the supplemental lease program, an organization spokesman mentioned.
“By encouraging our workers to drive an electrical automobile by the optionally available program, they’ll be taught firsthand how simple it’s and higher share their experiences with family and friends — a key option to enhance familiarity with new know-how,” the spokesman mentioned.
Ford has hundreds of managers, however the firm declined to say what number of can be affected by the coverage change. Automobiles leased by Ford managers rely as a sale for the automaker.
Gross sales of the F-150 Lightning have are available in slower than Ford CEO Jim Farley initially projected. After twice increasing manufacturing capability for the F-150 Lightning plant and including a 3rd shift to the ability, Ford halved manufacturing of the electrical truck earlier this 12 months.
Farley anticipated the plant to churn out vans at a 150,000-vehicle annualized run charge, earlier than strolling again these objectives during the last 12 months. Ford bought about 24,000 Lightnings in 2023 and about 41,000 Mach-E SUVs the identical 12 months.
Ford slashed costs of the Mach-E and Lightning a number of instances since early 2023 to spur demand and compete with worth cuts made by EV chief Tesla.
Whereas the expansion charge for EVs has slowed, demand for hybrids has soared. Gross sales of Ford hybrids elevated 25.3% in 2023 over the year-ago interval, outpacing the gross sales progress of EVs, which logged a 17.9% enhance over the identical timeframe. Ford is ready to launch first-half gross sales outcomes Wednesday.
Farley has more and more emphasised his give attention to hybrid manufacturing in current months, saying these automobiles shall be a considerable a part of Ford’s portfolio for the foreseeable future.
If workers are driving a supplemental lease automobile completely different from the 2 EVs Ford designated, they need to return their automobile or buy it by Could 15, 2025 the e-mail despatched to managers mentioned.
(Reporting by Nora Eckert; Modifying by Aurora Ellis)
