Ford Motor's Reservations for Electric F-150 Hit 100,000 in 3 Weeks

Ford Motor says reservations for its all-electric 2022 Ford F-150 Lightning have surpassed 100,000. It was unveiled May 19.
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Ford Motor  (F) - Get Report said Thursday that reservations for its all-electric 2022 Ford F-150 Lightning have surpassed 100,000, since its unveiling May 19.

Ford is taking $100 refundable reservations. Official orders will be available later this year, the company told the Detroit Free Press.

Ford shares recently traded at $15.26, down 1.4%. The stock hit a six-year high of $16.45 on Friday.

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The truck has a $39,974 price for models with a standard-range battery and $49,974 for versions with an extended-range battery.

The base price comes down to about $32,500, since a federal tax credit of up to $7,500 still available on Ford electric vehicles, according to the Associated Press.

The F-series trucks have been America's top-selling vehicle for nearly four decades. Ford sells about 900,000 nationally in a typical year. 

EV sales currently make up less than 2% of new-vehicle sales in the U.S.

The truck will be built by Ford-United Auto Workers staff at the Ford Rouge Complex in its headquarters city, Dearborn, Mich., beginning next spring.

On Friday, J.P. Morgan analyst Ryan Brinkman lifted his price target on Ford by $2, to $18 a share -- the highest on Wall Street -- while keeping his overweight rating.

He cited an improving price mix, stable labor costs and an easing of the global shortage in semiconductor supplies.

Last month, RBC Capital analyst Joseph Spak upgraded the stock to outperform from sector perform on what he sees as compelling evidence the carmaker will achieve its financial targets. 

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