Ford Motor is making a push to encourage more of its managers to switch to electric vehicles, as stated in a recent internal email obtained by Reuters. The company, headquartered in Dearborn, Michigan, has implemented changes to its leasing program for eligible current and former managers. Now, these managers are required to opt for an electric Mustang Mach-E SUV or F-150 Lightning pickup if they want to lease an additional vehicle. Typically, workers are permitted to lease one to two vehicles, depending on their management level, before considering a supplemental car.
This new leasing policy marks the first time that Ford has limited employees to choosing EVs for the supplemental lease program, according to a company spokesman. The idea behind this initiative is to encourage employees to experience driving an electric vehicle firsthand and share their experiences with others, ultimately increasing awareness and acceptance of this new technology.
While Ford has not disclosed the exact number of managers who will be impacted by this policy change, it is worth noting that vehicles leased by Ford managers contribute to the company’s overall sales figures. The F-150 Lightning, in particular, has faced slower sales than anticipated by Ford CEO Jim Farley. Despite efforts to ramp up production capacity and add an extra shift at the plant, Ford had to reduce production of the electric truck earlier this year.
Initially, Farley had high expectations for the F-150 Lightning plant, aiming for a 150,000-vehicle annualized rate. However, actual sales figures fell short, with approximately 24,000 Lightnings and 41,000 Mach-E SUVs sold in 2023. To boost demand and stay competitive with Tesla, Ford has decreased prices for the Mach-E and Lightning models multiple times since the beginning of 2023.
While the growth rate for EVs has slowed down, there has been a surge in demand for hybrid vehicles. Ford saw a 25.3% increase in hybrid sales in 2023 compared to the previous year, outpacing the growth rate of EV sales, which rose by 17.9% during the same period. Ford is expected to release its first-half sales results later this week, shedding more light on its performance.
Farley has been vocal about the company’s commitment to hybrid production, emphasizing that these vehicles will play a significant role in Ford’s product lineup in the coming years. Employees who currently have a supplemental lease vehicle that is not one of the designated EVs must either return the vehicle or purchase it by May 15, 2025, as stated in the email sent to managers.
This move by Ford reflects the company’s efforts to promote sustainable transportation options among its employees and drive the adoption of electric vehicles within its workforce. As the automotive industry continues to evolve towards cleaner and greener technologies, initiatives like these could pave the way for a more sustainable future.