Ford restricts resale of F-150 Lightning amid demand

Business

DEARBORN, Mich. (NewsNation Now) — Ford Motor Company is allowing dealerships to sell their all-electric Ford F-150 Lightning pickups with a “no sale provision” amid massive demand for the vehicle.

The electric pickup is already one of the hottest vehicles on the market, with 200,000 reservations so far. It’s so popular, Ford is allowing dealerships to sell the vehicle with a “no sale provision,” meaning buyers cannot sell the pickup for a profit for at least one year after purchase. Violators could face court action that includes blocking the transfer of the title.

Tom Maoli, who owns several car dealerships in New Jersey, said the provision is unprecedented.

U.S. President Joe Biden tests the new Ford F-150 lightning truck as he visits VDAB at Ford Dearborn Development Center in Dearborn, Michigan, U.S., May 18, 2021. REUTERS/Leah Millis

“It’s totally uncharted territories,” he said, “And honestly, it’s interesting because according to franchise laws across the country, they’re not allowed to do that.”

Dealerships can also have some of their inventory taken away if they charge too high of a premium.

“They’re not allowed to take inventory away from a dealer and, and force a dealer to price a vehicle a certain way or run their business a certain way,” Maoli said. “But they’re doing it and they’re doing it because right now they’re in uncharted territories.”

The F-150 Lightning pickup is expected to be one of the most significant EVs to ever hit the market. That it’s based on the best-selling vehicle in America would be reason alone. But the Lightning, which has dual motors and all-wheel drive, will also make more torque than any other F-150 produced — up to 775 pound-feet — and have the ability to use its battery pack as a power source. It’s robust enough to power a house during a power outage, potentially for days.

The F-150 Lightning, which comes out in the spring, will be offered with standard- and extended-range battery packs. The standard pack model comes with 426 horsepower and has a Ford-claimed driving range of 230 miles, and the extended pack is rated at 563 horsepower and has a longer driving range of 300 miles. Maximum towing capacity when properly equipped will be 10,000 pounds, which is enough for a medium-size trailer.

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