Ford announces reservations for F-150 Lightning electric pickup exceed 120,000

DETROIT – Ford Motor’s upcoming F-150 Lightning electric pickup is already attracting new potential customers for the automaker.

The company said Wednesday it has received more than 120,000 reservations for the vehicle since its debut in May. Of which about 75 percent, or 90,000, are new to Ford, according to the company.

While reservations are non-binding and only require a $ 100 deposit, such a high percentage of potential new buyers is impressive for any vehicle as well as sales expectations.

Much of those bookings could turn into sales. Ford last month said it converted about 66% of the 190,000 bookings for its recently launched Bronco SUV into orders.

Ford still has some catching up to do to catch up with reservations for Tesla’s Cybertruck. Less than a year after its debut, Tesla said in September it had received more than 500,000 orders for its Cybertruck.

Ford CEO Jim Farley during the company’s second quarter earnings call told investors on Wednesday that the company is working with suppliers of electric vehicle battery cells to increase the capacity of its electric vehicles, including the F-150 Lightning and Mustang Mach-E crossover.

The price of the F-150 Lightning will range from around 40,000 for a work truck to over $ 90,000 for its top-of-the-line model. Consumer-focused models will start at around $ 53,000, according to the automaker.

Ford said customer orders for the F-150 Lightning will begin in the fall, followed by deliveries from spring 2022.