Ford Motor Company (NYSE:F) is poised to slash planned production of its F-150 Lightning pickup truck in half over the coming year.
Having ramped up production capacity for the all-electric truck this year, the move - which could begin as early as January - will see the automaker aim to meet interest for the vehicle, sources close to the matter told CNBC.
“We’ll continue to match production with customer demand,” a spokesperson added on Monday.
Ford has most recently planned to produce around 3,200 models of the F-150 a week, though the cuts would take this closer to 1,600, reports suggest.
“Changing market demand” is said to be responsible for the move to scale back manufacturing, according to online publication Automotive News, which also said it had seen a memo regarding the plans.
Ford had spent several weeks upgrading capacity at its Michigan plant earlier this year, though rising costs and muted demand has since placed its multibillion dollar electric vehicle plans in doubt.