After struggling to find enough batteries and other parts for the past couple of years, automakers are finally beginning to churn out large numbers of electric cars and trucks. More than 30 new models will arrive in showrooms this year.
What they need now are more customers…
In view of this unbalanced supply and demand, automakers are cutting prices and offering more incentives. On Monday, Ford Motor reduced prices of its F-150 Lightning electric pickup truck by $6,000 to nearly $10,000, or as much as 17 percent on some versions. The company is also offering discounted interest rates of 1.9 percent to 3.9 percent on certain loans for Lightning purchases.
These moves follow several rounds of price cuts by Tesla, the dominant seller of electric cars. Tesla’s price reductions earlier prompted Ford to lower prices of its Mustang Mach-E electric sport utility vehicle, although that hasn’t brought Mach-E inventory back in line with sales.