Ford reduces price of electric F-150 Lightning amid weakening demand

Ford has reduced the price of its electric F-150 Lightning pickup truck by up to $10,000, or 17%, in response to weakening demand for electric vehicles. The move comes as automakers struggle to find enough buyers to keep up with the increasing supply of electric cars and trucks. Sales of electric vehicles have risen by 48% in the second quarter compared to the previous year, but inventories of unsold vehicles have also surged, with over 90,000 battery-powered cars and trucks sitting on dealer lots. Automakers are cutting prices and offering incentives to attract more customers, with Ford following Tesla's lead in reducing prices.