Used Ford F-150 Lightning EV Pickup Trucks Are A Hot Commodity At 50% Off

Do you remember the Ford F-150 Lightning EV? Of course you do; it's only been about a year since Ford stopped making them. However, you might be surprised to learn that these pickups are in huge demand in the used market. Many were surprised that Ford stopped making them in the first place. At the time of their demise, they were the number one selling EV pickup in the U.S., even beating a certain greatly hyped, dumpster-looking monstrosity with dismal sales numbers that claims to be a truck.

Yet the production lines for the relatively popular electric truck did, in fact, roll to a stop last year. That didn't mean consumers were done with the electric truck, though. F-150 Lightnings have experienced somewhat of a rebirth in the used car market. According to Bloomberg, dealerships are reporting that these trucks have been spending on average about 20 days on the lot before being sold, compared to 44 days for the typical used vehicle. It's easy to see why, however, as at least one customer has reported paying $40,000 for a truck whose average transaction price was $79,000 just a few years ago.

Used Ford F-150 Lightning EVs have been selling so well that a third of the ones sold have been purchased from dealerships affiliated with competing car brands. Normally, those used trucks would be wholesaled back to a Ford dealership, but apparently these dealerships know a good opportunity when they see one.

What made Ford decide to stop making the F-150 Lightning EV? Like many automakers at the time, Ford seemed to have overestimated the demand for EVs in the U.S. and decided to go all in. It planned production for 150,000 units per year. However, the reality was that the electric truck's best sales year was 2024, during which time Ford sold just over 33,500. 

So why did Ford think it needed to build that many electric trucks? Well, for one thing, the Ford F-Series lineup had, at one point, reached annual sales of over 900,000. It also didn't help that excited customers put in 100,000 reservations within the first month of reservations being available. Needless to say, not all of those reservations turned into sales. 

High prices certainly didn't help sales, either. When the truck was launched, it was offered for a starting MSRP of $39,974. Less than a year later, that figure had gone up to over $60,000. On top of that, a fire damaged the aluminum plant of a main supplier for the Ford F-150 Lightning, all while the overall EV market began shrinking in the U.S. instead of growing as was expected.

There are lessons to be learned from all of this. The fact that sales were lower than expected at the higher price points and that so many people are now buying used F-150 Lightning EVs suggests that there is a market for these trucks and EVs in general — so long as they are affordable. Second, counting unhatched chickens is a bad way to run a car company. Instead of being guided by optimism, the more prudent route is to plan for more realistic numbers, with the built-in ability to scale if needed.

Has Ford learned those lessons? It seems to have learned the first one, maybe. The company recently announced it will launch a new midsize all-electric pickup in 2027 called the Ford Fathom. The asking price for this new pickup? According to Ford, it's going to start at just $28,350. What about the second lesson — is Ford being more realistic about this new truck? Well, the company is investing $2 billion in a new production system for EVs in the hopes that 100,000 Ford Fathoms will be sold in its first year. Oh, Ford.