Ford’s New Deal Offers Incentives for Electric Vehicle Orders

Ford (F) is facing challenges with its electric vehicle goals, but a new initiative aimed at dealerships could provide a much-needed boost. The company is launching a pilot program that could earn dealerships thousands of dollars for ordering F-150 Lightning pickups, resulting in a slight increase in Ford’s stock price.

Incentives for Ordering F-150 Lightning Vehicles

According to a recent report from Electrek, Ford has introduced a deal where dealers can receive up to $1,500 for each F-150 Lightning ordered through its Retail Replenishment Centers. In total, dealers could earn up to $22,500 over the next month by placing orders for new electric vehicles.

Ford is offering $1,000 for every F-150 Lightning ordered, regardless of the model—be it XLT, Lariat, Flash, or Platinum. For dealers that order nine or more vehicles, the incentive increases to $1,500 for each pickup. However, the offer is only valid until November 15, at which point dealers can earn the full $22,500 by ordering 15 cars. If they choose to order more, they can still do so, but the total incentives cap at $22,500.

Issues with Tesla Adapters

Ford is also advising its customers not to use Tesla’s Supercharger system, including the adapters that come with their vehicles. This warning follows a report from Inside EVs highlighting a “potential issue” with these adapters, although specifics were not provided. Possible consequences may include longer recharge times or even damage to the vehicle’s charging port. Fortunately, replacements for the faulty adapters are expected soon, which is good news for Ford electric vehicle owners given the extensive Tesla Supercharger network.

How Is Ford Stock Performing?

On Wall Street, Ford stock (F) has received a Moderate Buy rating based on five Buy ratings, nine Holds, and one Sell in the last three months. Despite a modest 3.12% rise in its share price over the past year, analysts have set an average price target of $12.68 per share, indicating a potential upside of 14.6% for investors.

See more F analyst ratings

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.