Ford Motor Co. (NYSE: F) reported strong third-quarter numbers, with revenue up 9% to $50.5 billion and per-share earnings rising to $0.60. However, forecasts were lowered due to a fire at a supplier, which could cost up to $1.0 billion between 2025 and 2026.

The decision to stop production of the F-150 Lightning EV flagship was made by Ford, citing both the fire and weak sales. Lightning unit sales increased by only 1% to 23,034, while overall F-Series sales rose 12.7% to 620,580.

Ford’s management showed insight in halting Lightning production, as the electric pickup did not sell well. The U.S. EV market is declining, with the $7,500 EV tax credit expiring at the end of the third quarter, leading to a rush in purchases before the deadline.

iSeeCars reported that 8% of new car sales were EVs in the first three quarters, but forecasts predict a drop to 4% in the fourth quarter and throughout 2026. Ford’s third-quarter results would have been even better without the factory fire, highlighting the need for cautious decisions regarding EVs in the future.

Read more at Yahoo Finance: Ford to End Production of Failed F-150 Lightning