Ford has announced a significant price reduction for its F-150 Lightning electric truck, shaving up to $10,000 off the cost of all variants. This move brings the electric truck closer to its initial pricing and makes it more accessible to a wider range of customers.
The base model, F-150 Lightning Pro, will now be priced at $49,995, a reduction of nearly $10,000. The top-end Platinum Extended Range model will see a more modest price cut of just over $6,000, with an MSRP of $91,995. These price reductions are the result of Ford’s upgraded plant capacity, ongoing efforts to scale cost and production, and improved battery raw material costs.
To accommodate increased production, Ford’s Rouge Electric Vehicle Center in Michigan is currently closed for upgrades. Once completed, the facility will be capable of producing 150,000 F-150 Lightning trucks per year. Ford expects to have greater availability of the electric truck as early as October, allowing more customers to get their hands on this popular vehicle.
This move comes after Ford previously increased the price of the F-150 Lightning multiple times in response to supply issues and increased material costs. Over the past few months, the F-150 Lightning Pro has been priced around 50 percent higher than its initial pricing. While the current price cuts don’t bring the truck back to its original starting price of $40,000, they are certainly a step in the right direction for potential buyers who may have been hesitant due to the higher cost.
In addition to the price reductions, Ford is also offering a bonus for customers who place an order for an XLT, Lariat, or Platinum trim by July 31st. These customers will receive a $1,000 bonus, further incentivizing potential buyers to make a purchase. Additionally, buyers of the F-150 Lightning may be eligible for up to $7,500 in federal tax credits, further reducing the overall cost of the vehicle.
Interestingly, these price reductions from Ford come shortly after Tesla also announced price cuts for its EVs. Tesla reduced the prices of its electric vehicles in an effort to boost delivery figures and remain competitive in the increasingly crowded electric vehicle market. Coincidentally, F-150 Lightning owners will also benefit from the ability to charge their vehicles at over 12,000 Tesla Superchargers across the United States and Canada, further enhancing the convenience and accessibility of owning an electric vehicle.
Overall, these price reductions from Ford make the F-150 Lightning more attainable for a wider range of customers. With improved availability expected in the near future, potential buyers now have more reason to consider the F-150 Lightning as their next vehicle. The combination of lower pricing, additional bonuses, and access to Tesla Superchargers makes this electric truck an enticing option in the competitive EV market. As Ford continues to invest in electric vehicles and improve production capacity, it’s likely that we’ll see further advancements and improvements in their lineup in the coming years.
