Ford drops F-150 Lightning prices by up to $10,000
The automaker says improved plant capacity and lower costs are helping it sell the electric truck for less.
Ford is shaving up to $10,000 off the cost of an F-150 Lightning across all variants, bringing the electric truck somewhat closer to its initial pricing. The base F-150 Lightning Pro is dropping by nearly $10,000 to $49,995. Savings are more modest at the other end of the scale, with the company cutting just over $6,000 from the top-end Platinum Extended Range model's price. That trim now has an MSRP of $91,995.
The automaker says upgraded plant capacity, its ongoing efforts in scaling cost and production and improved battery raw material costs are helping it to bring prices back down. Its Rouge Electric Vehicle Center in Michigan is closed for now while it upgrades the facility in the aim of producing 150,000 F-150 Lightning trucks there each year. The company says there will be greater availability of the EV as early as October.
Ford increased the price of every trim last August and again for the base model in December and March due to supply issues and increased material costs. For the last few months, the F-150 Lightning Pro has cost around 50 percent more than its initial pricing.
The company hasn't been able to bring the F-150 Lightning back to its original starting price of $40,000 just yet, though these price cuts will be welcome news to those who have been on the fence about getting one. Folks who place an order for a XLT, Lariat or Platinum trim by July 31st will get a $1,000 bonus, while Ford notes that buyers will be eligible for as much as $7,500 in tax credits. Orders are now open to everyone.
The price of the F-150 Lightning is dropping just after Tesla started production of the Cybertruck over the weekend. Tesla has cut prices of its EVs several times this year to help it increase delivery figures and make it more competitive in an increasingly crowded market. As it happens, F-150 Lightning owners will be able to top up their vehicle's battery at more than 12,000 Tesla Superchargers across the US and Canada starting in early 2024.
