Ford Motor is taking steps to encourage more of its managers to buy electric vehicles (EVs). The Dearborn-based company recently sent an internal email, obtained by Reuters, outlining changes to its leasing program for eligible current and former managers. Under the new policy, managers are required to order an electric Mustang Mach-E SUV or F-150 Lightning pickup if they wish to lease a supplemental vehicle. This move marks the first time that Ford has restricted employees to purchasing EVs for the supplemental lease program.
The goal behind this change, according to a Ford spokesperson, is to encourage employees to experience driving an electric vehicle firsthand and share their experiences with friends and family. The hope is that this will help increase familiarity with and adoption of new EV technology.
While Ford declined to specify the number of managers that would be affected by the policy change, it’s worth noting that vehicles leased by Ford managers count as sales for the automaker. This means that by incentivizing managers to choose EVs, Ford can boost its overall EV sales figures.
However, it’s important to acknowledge that sales of the F-150 Lightning have been slower than initially projected. Despite expanding production capacity and adding a third shift to the facility, Ford had to halve production of the electric truck earlier this year. The company initially expected the plant to produce trucks at a rate of 150,000 vehicles per year. However, Ford has since revised those goals downward. In 2023, Ford sold approximately 24,000 Lightning trucks and 41,000 Mach-E SUVs.
To stimulate demand and compete with price cuts from industry leader Tesla, Ford has lowered the prices of both the Mach-E and Lightning multiple times since early 2023. While the growth rate for EVs has slowed, the demand for hybrids has surged. Ford’s hybrid sales saw a robust 25.3% increase in 2023 compared to the previous year, outpacing the 17.9% growth of EV sales during the same period.
Ford CEO Jim Farley has recently emphasized the importance of hybrid production and stated that these vehicles will be a significant part of Ford’s portfolio for the foreseeable future. This indicates that Ford sees a continued market for hybrid vehicles alongside its push for EV adoption.
The internal email to managers also mentioned that if employees are currently driving a supplemental lease vehicle that is different from the two EV models designated by Ford, they must return their vehicle or purchase it by May 15, 2025.
In summary, Ford’s latest policy change aims to incentivize its managers to purchase EVs by restricting supplemental lease options to electric models. This move is part of Ford’s broader strategy to increase familiarity with EV technology among its employees and promote wider adoption. While the F-150 Lightning has experienced slower sales than anticipated, Ford has seen success in hybrid vehicle sales and plans to continue investing in this area alongside its EV initiatives.
