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EV stocks slump on demand worries after Ford cuts prices on electric pickup truck

Published 04/11/2024, 03:54 PM
Updated 04/11/2024, 03:55 PM
© Reuters

Investing.com -- Electric vehicle stocks fell sharply Thursday as Ford (NYSE:F) slashed the prices on various models of its F-150 Lightning electric pickup truck, stoking fresh worries about waning demand and margin pressures for EV makers. 

Ford cut the price of various F-150 models including the XLT, Lariat, and Flash, with the latter's price cut by as much as $5,500.

With the exception of Tesla (NASDAQ:TSLA), the price cut sparked a wave of selling pressure across EV stocks, with Nio Inc Class A ADR (NYSE:NIO), Nikola Corp (NASDAQ:NKLA), Li Auto Inc (NASDAQ:LI), Rivian Automotive Inc (NASDAQ:RIVN), Lucid Group Inc (NASDAQ:LCID) trading lower.     

Latest comments

Ford lightning was over priced to begin with 🤡🤡🤡🤡
Anyone need a shopping cart for your bags!!!🤡🤡🤡🤡🤡🤡🤡
Anyone need a shopping cart for your bags!!!🤡🤡🤡🤡🤡🤡🤡
Not everyone trust Ford, truck demand isn't for everyone, and electric vehicles aren't for everyone. Supply and demand
Il crollo di NKLA non ha nulla a che vedere con il ribasso dei prezzi Ford.
rigged
Glad Ford a consumer auto company has so much effect on NKLA a commercial class A hydrogen truck company.
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