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More than 120,000 Ford F-150 Lightning reservations on the books

About three-quarters of those reservation are from customers new to the Ford brand.

Ford F-150 Lightning Pro
Reservations for the electric version of America's best-selling vehicle have crested the 120,000 mark.

Ford announced its Q2 2021 financial results this week, and things are looking good for the Blue Oval brand. And, bolstered by the announcement that reservations are exceeding expectations for the upcoming F-150 Lightning electric pickup, the future looks even better.

The 2022 F-150 Lightning is an all-electric version of Ford's F-150 pickup truck. Reservations opened shortly after the official debut back in May and, just earlier this month, we reported that more than 100,000 of you had plunked down the $100 refundable deposit to get in line. Of course, it's no surprise that an electric F-150 is a big deal; the combustion-powered version has been the best-selling vehicle in the US for 39 consecutive years and the best-selling pickup truck for 44 years running.

This week, Ford reports that the queue has crested 120,000 reservations, adding that "about three-quarters of them [are] from customers who are new to Ford." Of course, not all of these small refundable deposits will translate to actual sales once the Lightning strikes in spring of 2022, but many will and, at the very least, this is a strong indicator of buyer interest and the power of electrification to bring new customers to the brand.

The F-150 isn't the only success story mentioned in the report. Ford's April financials predicted a loss due to the semiconductor shortage limiting production. However, despite building fewer vehicles, the automaker is reporting an adjusted earnings increase of $1.1 billion. 

2021 Ford Mustang Mach-E

The chip shortage limited production, but high-profile vehicles like the Mustang Mach-E helped keep demand high.

Andrew Krok/Roadshow

A stable of high demand vehicles -- like the Mustang Mach-E, currently ranked No. 2 in sales among all-electric sport utility vehicles in the US, and the Bronco Sport -- means that Ford was able to convert more of its limited production to sales and, because those vehicles aren't just sitting at the dealership, it didn't need to rely as much on incentives, maximizing profits. This formula has helped boost revenue from sales seven-fold year-over-year. 

And with the Lightning, the big Bronco SUV and the Maverick pickup on the horizon, Ford says that "sales 'spring loaded' for growth when semiconductor supplies normalize." You can get a peek at the financial statement yourself here. Ford plans to report its third-quarter 2021 financial results on Oct. 27.