Demand for Ford's electric F-150 Lightning is getting hotter, according to CEO Jim Farley. 

"I am happy to report and this is just in, after about a week of orders we have 70,000," Farley revealed during a Wednesday appearance on The Claman Countdown. He noted the automaker wanted this version of the F-150 to "challenge convention" for the line, which is already the nation's best-selling truck. 

Ticker Security Last Change Change % F FORD MOTOR CO. 13.91 +1.11 +8.67%

That's about a 57% jump from the last sales update Farley gave, in a Tweet last week, citing 44,500 reservations rolled in. 

THE FORD F-150 LIGHTNING WAS DESIGNED TO MAKE MONEY

Reservations for the F-150 Lightning only require a $100 refundable deposit and deliveries aren't scheduled to begin until spring of 2022. The full-size truck has a starting price of $39,974 (not including delivery fees) and qualifies for the full $7,500 federal electric vehicle tax credit. A fully-loaded Platinum trim luxury version is currently listed at an estimated price of $90,474, as previously reported by FOX Business. 

FORD’S F-150 LIGHTNING CONTENDS WITH ELECTRIC TRUCKS FROM TESLA, RIVIAN, LORDSTOWN, GMC

Ford joins Tesla, GM, Rivian and Lordstown in the race to dominate electric trucks. 

Ticker Security Last Change Change % TSLA TESLA, INC. 619.13 +14.44 +2.39%GM GENERAL MOTORS CO. 58.10 +1.34 +2.36%RIDE LORDSTOWN MOTORS 9.44 +0.49 +5.47%

Shares rallied over 8% as the company also updated investors on its long-term strategy with a plan to have 40% of all global vehicle volume be all-electric by 2030. Additionally, it launched a new unit, Ford Pro, which will focus on "high productivity requirements of commercial and government customers."

"We are on a new path, a new plan for the company," Farley stressed. 

Shares have gained a whopping 58% this year, blasting the S&P 500's gains of over 11%. 

FOX Business' Gary Gastelu contributed to this report. 

Source Link:
https://www.foxbusiness.com/markets/ford-electric-f-150-sales-70000-ceo-jim-farley

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