Ford is encouraging more of its managers to adopt electric vehicles, introducing a new leasing policy that mandates the selection of electric models like the Mustang Mach-E SUV or F-150 Lightning pickup, according to an internal email reviewed by Reuters.
The Dearborn, Michigan-based automaker revised its leasing program for eligible current and former managers, stipulating that they must opt for an electric Mustang Mach-E SUV or F-150 Lightning pickup as a supplemental vehicle. Previously, managers could choose from a range of vehicles for their lease.
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“This is the first time Ford has restricted employees to buying EVs for the supplemental lease program,” a company spokesman confirmed.
The move aims to familiarize Ford employees with electric vehicle technology, encouraging them to share their experiences with friends and family.
“By encouraging our employees to drive an electric vehicle through the optional program, they can learn firsthand how easy it is and better share their experiences with friends and family — a key way to increase familiarity with new technology,” the spokesman said.
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While Ford has not disclosed how many managers will be affected by the new policy, vehicles leased by managers contribute to Ford’s sales figures.
Sales of the F-150 Lightning, a centerpiece in Ford’s electric vehicle strategy, have been slower than initially projected by CEO Jim Farley. Despite efforts to ramp up production, including expanding capacity and adding shifts, Ford reduced production earlier this year.
Farley, who initially aimed for a 150,000-vehicle annual production rate, has adjusted expectations amid the evolving market dynamics. In 2023, Ford sold approximately 24,000 Lightning trucks and 41,000 Mach-E SUVs.
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To stimulate demand and compete with rivals like Tesla, Ford has repeatedly slashed prices for the Mach-E and Lightning since early 2023.
While electric vehicle growth has moderated, demand for Ford’s hybrid vehicles surged by 25.3% in 2023 compared to the previous year, outpacing the growth rate of EV sales, which saw a 17.9% increase.
CEO Farley has emphasized the significance of hybrid vehicles in Ford’s future strategy, underscoring their role in the company’s product lineup.
The new leasing policy also includes a deadline for managers with non-designated vehicles to either return them or purchase them by May 15, 2025.
