Saturday, November 15, 2025

The Luxury Electric Vehicle Is in Trouble

 

The Luxury Electric Vehicle Is in Trouble

Sales of expensive battery-powered cars like the Ford F-150 Lightning have stalled, forcing automakers to slow production and offer more affordable vehicles.

A worker looks at a Ford F-150 Lightning in a factory.

Ford Motor has stopped making its F-150 Lightning electric pickup truck, which starts at $55,000, and won’t say when or whether production will restart.

Credit...Brittany Greeson for The New York Times

 

By Neal E. Boudette

Nov. 13, 2025

Just a few years ago, Ford Motor thought it had a big hit on its hands with the F-150 Lightning electric pickup truck.

But as of the end of September, Congress and President Trump eliminated federal tax credits for the purchase of electric vehicles, leading to a steep drop in sales, especially for large, pricey models like the Lightning.

Now, the Lightning’s future is in doubt. Ford has stopped making the truck, whose price starts at $55,000 and can rise to more than $85,000 for premium versions with added features, and it won’t say when or whether production will restart.

The Lightning’s struggles are part of a bigger shift. For many years, many of the electric vehicles that Americans bought were luxury models, like the Tesla Model S, the GMC Hummer and the Porsche Taycan, which all typically sell for more than $80,000.

But that’s changing fast. Sales of expensive electric vehicles have stalled, and buyers are gravitating toward models like the Chevrolet Equinox and Hyundai Ioniq 5, which have starting prices of around $35,000.

“When the subsidy went away, the higher-dollar vehicles really began to slow down,” said Tim Hovik, whose dealership, San Tan Ford in Gilbert, Ariz., once sold dozens of Lightnings a month.

Like Ford, General Motors has halted production of its Hummer EV. The Michigan factory that made that model and others is supposed to restart in January, but will run only one eight-hour shift a day instead of two. G.M. is also slowing production of electric Cadillacs.

“It’s really going to be into early next year when we’re going to know what true E.V. demand is,” G.M.’s chief executive, Mary T. Barra, said in a conference call last month.

Tesla, the electric vehicle pioneer, has significantly cut back production of its three luxury vehicles — the Model S, the Model X, and the Cybertruck. Honda has discontinued the Acura ZDX sport utility vehicle. Stellantis canceled an electric Ram pickup before it hit showrooms.

Rivian, a newer automaker, is slowing production of its premium electric S.U.V.s and pickups and is preparing for a lower-priced model that is expected next year. The company recently laid off about 600 workers and lost $1.2 billion in the third quarter.

European automakers are also changing their plans because of the shifting industry landscape and the import tariffs Mr. Trump has imposed.

Mercedes-Benz had been selling electric versions of its luxury sedans and S.U.V.s in the United States but recently said it would stop importing them. Volkswagen has slowed production of the ID.Buzz, an upscale electric van that’s made in Germany.

Porsche, the German sports-car maker controlled by Volkswagen, announced in September that it was halting development of several new electric cars and would spend heavily to add new gasoline-powered models. The shifts in its strategy have not been good for the company’s finances. Porsche had an operating loss of nearly one billion euros ($1.1 billion) in the third quarter.

“We have seen a clear drop in demand for exclusive battery electric cars, and we are taking that into account,” Oliver Blume, chief executive of Volkswagen and Porsche, said in a conference call in September.

For most Western automakers, the decline of the electric vehicle market has a silver lining. Except for Tesla, most have been losing money on such models, with the largest losses from luxury models. But now fewer sales will mean smaller losses.

Image

A Cybertruck is parked in a Tesla lot lined with palm trees.

Tesla has significantly cut back production of its three luxury vehicles, including the Cybertruck.Credit...Mikayla Whitmore for The New York Times

In October, U.S. electric vehicle sales fell about 33 percent from a year earlier, to 64,500, according to estimates by J.D. Power. Sales of the F-150 Lightning fell 12 percent, to 1,543 vehicles. Acura sold just 25 ZDXs, down from more than 1,200 a year earlier.

“A lot of people thought that the high-end, luxury E.V. segment was going to be sustainable and it would continue to grow,” said Jessica Caldwell, vice president of insights at Edmunds, a market researcher. “But with all the changes that have come to the industry, it’s just not as big as we thought.”

While the $7,500 tax credit was a relatively small discount on luxury cars, it helped automakers come up with lease deals that attracted affluent car buyers. Another factor in leases is the expected value of a vehicle after two or three years on the road. The values of previously leased electric models have been falling, and that has pushed up monthly payments on new leases.

Mr. Hovik, the Ford dealer in Arizona, said about 75 percent of the electric models he was selling were leased. “But without a strong lease proposition on those vehicles, they became very much on the high end from an affordability standpoint,” he said.

His dealership has about 75 Lightnings, and he’s hoping Ford will offer incentives to help him sell them off. Other manufacturers have already jacked up discounts. Mercedes is offering discounts of $10,000 or more on some electric models and as much as $50,000 on a Maybach EQS, which has a starting price of $180,000.

The move away from expensive electric models is also good for consumers who cannot afford them even with big discounts. Around a dozen electric models now start at less than $40,000. And Nissan and G.M. recently introduced versions of the Leaf and the Chevrolet Bolt that cost less than $30,000.

As for the Lightning, it was a milestone vehicle when it was introduced in 2022 — an electric version of the top-selling vehicle in the United States.

Ford set up an assembly line near Detroit and hoped to sell 150,000 a year. Initial demand was so strong that Ford increased production in 2023. But demand soon began to falter, partly because the company raised prices significantly to make up for higher costs. In 2024, Ford sold 33,000 Lightnings.The decision to halt Lightning production was also influenced by a fire at a supplier plant that produces aluminum for F-150 trucks. Facing a tight supply of aluminum, Ford decided to use the material it has for gasoline models of the truck.

A Ford spokeswoman said the company has an ample inventory of Lightnings as the supplier recovers from the fire, and in the meantime it is focused on producing gas-powered and hybrid F-150s.

While Ford won’t commit to bringing the Lightning back, its executives have said they are working on new, lower-cost models. The first — a pickup that is smaller than the Lightning — will arrive in 2027. The company says the truck’s starting price will be around $30,000.

Neal E. Boudette, a Michigan-based reporter for The Times, has been covering the auto industry for more than two decades.

 

Talking With Margaret Sullivan

 

Justice Department quietly replaced ‘identical’ Trump signatures on recent pardons

 

Justice Department quietly replaced ‘identical’ Trump signatures on recent pardons

By  JIM MUSTIANBRIAN SLODYSKO and MATT BROWN

Updated 7:51 PM CST, November 14, 2025

WASHINGTON (AP) — The Justice Department posted pardons online bearing identical copies of President Donald Trump’s signature before quietly correcting them this week after what the agency called a “technical error.”

The replacements came after online commenters seized on striking similarities in the president’s signature across a series of pardons dated Nov. 7, including those granted to former New York Mets player Darryl Strawberry, former Tennessee House speaker Glen Casada and former New York police sergeant Michael McMahon. In fact, the signatures on several pardons initially uploaded to the Justice Department’s website were identical, two forensic document experts confirmed to The Associated Press.

Within hours of the online speculation, the administration replaced copies of the pardons with new ones that did not feature identical signatures. It insisted Trump, who mercilessly mocked his predecessor’s use of an autopen, had originally signed all the Nov. 7 pardons himself and blamed “technical” and staffing issues for the error, which has no bearing on the validity of the clemency actions.

The questions about Trump’s signature come amid a new flurry of clemency and weeks after the president claimed to not even know Changpeng Zhao, a crypto billionaire he pardoned last month. He said in an interview with 60 Minutes that the case had been “a Biden witch hunt.”

“A basic axiom of handwriting identification science is that no two signatures are going to bear the exact same design features in every aspect,” said Tom Vastrick, a Florida-based handwriting expert who is president of the American Society of Questioned Document Examiners.

“It’s very straightforward,” said Vastrick, who compared the apparently identical images, now only visible through the online Internet Archive, with the replacements at AP’s request.

Chad Gilmartin, a Justice Department spokesperson, said the “website was updated after a technical error where one of the signatures President Trump personally signed was mistakenly uploaded multiple times due to staffing issues caused by the Democrat shutdown.”

“There is no story here other than the fact that President Trump signed seven pardons by hand and DOJ posted those same seven pardons with seven unique signatures to our website,” Gilmartin said in a statement to AP, referring to the latest wave of clemency Trump has granted in recent weeks.

White House spokesperson Abigail Jackson wrote in an email that Trump “signed each one of these pardons by hand as he does with all pardons.”

“The media should spend their time investigating Joe Biden’s countless auto penned pardons, not covering a non-story,” she wrote.

Trump has been an outspoken critic of Biden’s use of the autopen to conduct executive business, going as far as to display a picture of one such device in place of a portrait of his predecessor in a new “Presidential Walk of Fame” he created along the West Wing colonnade. His Republican allies in Congress last month released a blistering critique of Biden’s alleged “diminished faculties” and mental state during his term that ranked the Democrat’s use of the autopen among “the greatest scandals in U.S. history.”

The Republicans said their findings cast doubt on all of Biden’s actions in office and sent a letter to Attorney General Pam Bondi urging a full investigation.

“Senior White House officials did not know who operated the autopen and its use was not sufficiently controlled or documented to prevent abuse,” the House Oversight Committee found. “The Committee deems void all executive actions signed by the autopen without proper, corresponding, contemporaneous, written approval traceable to the president’s own consent.”

On Friday, Republicans who control the committee released a statement that characterized Trump’s potential use of an electronic signature as legitimate, which it distinguished from Biden’s.

But Rep. Dave Min, a California Democrat on the House Oversight Committee, seized on the apparent similarities in the initial version of the pardons and called for an investigation of the matter, deploying the Republican arguments against Biden in a statement to AP that “we need to better understand who is actually in charge of the White House, because Trump seems to be slipping.”

Regardless, legal experts say the use of an autopen has no bearing on the validity of the pardons.

“The key to pardon validity is whether the president intended to grant the pardon,” said Frank Bowman, a legal historian and professor emeritus at the University of Missouri School of Law who is writing a book on pardons. “Any re-signing is an obvious, and rather silly, effort to avoid comparison to Biden.”

Much of Trump’s mercy has gone to political allies, campaign donors and fraudsters who claimed they were victims of a “weaponized” Justice Department. Trump has largely cast aside a process that historically has been overseen by nonpolitical personnel at the Justice Department.

Casada, a disgraced former Republican speaker of the Tennessee House, was sentenced in September to three years in prison. He was convicted of working with a former legislative aide to win taxpayer-funded mail business from state lawmakers who previously drove Casada from office amid a sexting scandal.

Strawberry was convicted in the 1990s of tax evasion and drug charges. Trump cited the 1983 National League Rookie of the Year’s post-career embrace of his Christian faith and longtime sobriety when pardoning him.

McMahon, a former New York City police sergeant, was sentenced this spring to 18 months in prison for his role in what a federal judge called “a campaign of transnational repression.” He was convicted of acting as a foreign agent for China after he tried to scare an ex-official into going back to his homeland.

McMahon’s defense attorney, Lawrence Lustberg, said he was not aware the pardon documents had been replaced until he was contacted Friday by an AP reporter.

“It is and has always been our understanding that President Trump granted Mr. McMahon his pardon,” Lustberg wrote in an email.

___

Mustian reported from Natchitoches, Louisiana. AP reporter Eric Tucker contributed reporting from Washington.

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