Jim Farley Celebrates Record Sales For Ford's F-150 Lightning As Tesla's Cybertruck Hits The Road

Ford Motor Co F CEO Jim Farley on Friday said that the company’s all-electric truck, the F-150 Lightning, marked record sales in November. The announcement comes a day after rival EV maker Tesla Inc TSLA started delivering its all-electric Cybertruck to customers.

What Happened: Ford delivered nearly 4,400 Lightning trucks in November, marking an increase of over 100% from last year, the CEO said. November marked the best-ever sales month for the vehicle.

The announcement came a day after rival Tesla started delivering its Cybertrucks to customers by giving to a handful of users. The stainless steel Cybertruck, inspired by movies including ‘Blade Runner' and ‘The Spy Who Loved Me,' poses direct competition to the Lightning as well as Rivian’s R1T electric truck.

The lowest-priced Cybertruck, however, starts at $60,990, while the model year 2023 Lightning’s lowest-priced Pro model starts at $49,995. The highest-priced Lightning model, the Platinum, is also priced lower than the high-end Cybertruck version called the Cyberbeast.

Why It Matters: Lightning’s November sales marks a bounce back for the vehicle’s demand. F-150 Lightning sales dropped by nearly 46% in the third quarter to 3,503 units.

The rising numbers also hint that the Cybertruck might not dampen the demand for the Lightning. Farley has previously dismissed the Cybertruck as “a cool high-end product parked in front of a hotel.” While the Cybertruck is for Silicon Valley people, Ford makes trucks for real people who do real work, the CEO had said, setting its prospective customer base apart from the Cybertruck.

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