Ford made an announcement on Monday regarding significant price reductions across its F-150 Lightning lineup. This comes after four consecutive price hikes, and the current starting price is $51,990, which is a decrease of $9,979. However, it is important to note that this price is still $10,321 higher than the original price when the F-150 Lightning entered production in April 2022.
It is worth mentioning that the starting price mentioned is for the F-150 Lightning Pro, which is specifically designed for commercial use. For retail customers, the Pro model is exclusively available with the Standard-Range battery, offering an estimated range of 240 miles. Unfortunately, the Pro model is currently sold out to retail customers for the rest of the 2023 model year, according to a Ford spokesman.
As a result, retail customers will have to consider upgrading to the F-150 Lightning XLT, which now starts at $56,990. This represents a decrease of $9,479 from the previous price when equipped with the 240-mile Standard-Range battery. For an additional $15,000, customers can opt for the 320-mile Extended-Range battery, bringing the starting price up to $71,990. This reflects a decrease of $8,879 from the previous price.
Moving further up the lineup, the Lariat model with the Standard-Range battery now starts at $71,990, while the Extended-Range battery option is priced at $79,490. These prices represent decreases of $6,979 and $8,479 respectively. The range-topping Platinum variant now begins at $93,990, which is a decrease of $6,079 from before.
Related Post
It is worth noting that all the prices mentioned include a $1,995 destination charge. According to the Ford spokesman, these new prices are effective immediately for trucks that are being delivered from today onwards. This means that customers who have already placed their orders but are still awaiting delivery will receive the new pricing.
Ford attributes these latest price cuts to improved economies of scale at the truck’s Rouge plant in Dearborn, Michigan. The plant is currently closed as final upgrades are being made, after which it will have a targeted annual production rate of 150,000 trucks starting in the fall. Additionally, Ford has been able to reduce costs due to improved battery raw material costs.
Marin Gjaja, the chief customer officer of Ford Model E, stated that after the launch of the F-150 Lightning, various factors such as rising material costs and supply constraints led to increased costs for both Ford and its customers. However, Ford has been working behind the scenes to improve accessibility and affordability, thereby lowering prices for customers and shortening wait times for their new F-150 Lightning.
In summary, Ford has announced significant price reductions for its F-150 Lightning lineup following four consecutive price hikes. This move aims to improve accessibility and affordability for customers while reducing wait times. The new pricing is effective immediately for deliveries, and customers who have already placed orders will benefit from the reduced prices. These price cuts have been made possible by improved economies of scale at the truck’s manufacturing plant and reduced battery raw material costs.
