That price was increased several times, hitting about $60,000 in March Monday's cuts reduce the entry-level truck's sticker price to about $50,000. Ford sold just 4,466 Lightnings in the second quarter after a fire in a just-completed truck in February led it to shut down production for five weeks.Īt the time of its 2021 debut, the lowest-priced version of the Lightning – the work-truck Pro trim – was about $40,000. But the effort to boost production hasn't been a smooth one. Increasing production of the Lightning and other Ford EVs has been a key priority for CEO Jim Farley this year. The Dearborn, Michigan factory that makes the Lightning will be closed for several weeks while the production upgrades are put in place, Ford said Monday. Ford has worked to increase production of the truck in recent months, with factory upgrades that are expected to triple its output set to be in place by fall. The company had increased the Lightning's prices several times since its 2021 debut, citing supply constraints and sharply higher prices for the minerals used in the electric truck's batteries. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Access to Tesla Superchargers will be a huge capacity gain for all manufacturers adopting the charging standard, but Ford and General Motors will be particularly eager to take advantage of it, as both domestic manufacturers battle Hyundai and Kia for a podium in the EV unit sales race.Ĭould EV price wars eventually put off prospective customers? Or will the luck of the pricing draw entice enough potential buyers? Please share your thoughts below.Best Debt Consolidation Loans for Bad Credit And the Dearborn manufacturer is even incentivizing new buyers with a $1000 bonus for retail customers who build their own XLT, Lariat, or Platinum truck before July 31.ĭespite the not-so-subtle pricing battle between Tesla and Ford, both manufacturers are warming up to each other, as plans for Tesla-born, Ford-adopted NACS charging is set for early 2024. With a claimed annual production pace of up to 150,000 units, Ford is likely trying to rid its dealer lots of late-model trucks as order books open up. Ford Is Making a Rally-Inspired Mustang Mach-E.Is it a coincidence that cross-town rival General Motors is rolling out long-awaited battery-electric versions of its Chevy Silverado and GMC Sierra full-size pickups? There's no denying an EV price war has been simmering amongst manufacturers like Tesla and Ford for months now, but some industry experts say Ford's choice to lower F-150 Lightning prices is different. "We've continued to work in the background to improve accessibility and affordability to help lower prices for our customers and shorten the wait times for their new F-150 Lightning." "Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints, and other factors drove up the cost of the EV truck for Ford and our customers," said Marin Gjaja, chief customer officer, Ford Model e. Contributing to this decision is falling raw material costs for batteries, too. With company projections showing a tripled annual run rate at the Rouge Electric Vehicle Center by this fall, Ford says it can finally afford to lower the price of the F-150 Lightning. Bill Pugliano // Getty Imagesīut how does Ford explain this significant reduction in price? For the exact reason that prices had to go up initially: production and material costs. The Rouge Electric Vehicle Center, pictured here, remains temporarily closed for plant upgrades, Ford says. That includes a standard, across-the-lineup $1995 destination fee, up from the original $1795 charge. For the first time since the truck's release in April 2022, prices are actually going down from the factory by nearly $10,000 in some trims.Īccording to a pricing chart provided by Ford, the base model Pro and preceding XLT 311A trims are both receiving a $9979 price cut, bringing their respective sticker prices to $51,990 and $56,990. If you've been itching to buy Ford's premier F-150 Lightning electric pickup, then now might be the time.
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