Ford Raises Prices on the F-150 Lightning Electric Pickup as Demand Surges
Ford Motor Company has announced that it will be increasing prices another time for its popular all-electric F-150 Lightning pickup. This move is the latest in a series of price adjustments aimed at mitigating the impact of elevated supply and production expenses. The base price of the F-150 Lightning is now $4,000 more, bringing the entry-level price to $59,974. With this latest price increase, the price has increased almost 50% over when it debuted in 2022.
"Ahead of the next wave of commercial order banks opening mid-April, Ford is adjusting the price of the F-150 Lightning Pro MSRP from $55,974 to $59,974," Ford said, adding that the model remains sold-out for retail customers.
As initially reported by Automotive News, this marks the fourth time that Ford has significantly raised the price of the truck. The price increase not only affects the base F-150 Lightning Pro model but also the Lightning Lariat and Platinum models. The Lariat now has a price tag of $75,974, reflecting a $1,500 increase, while the Platinum's price has risen by $1,200 to $98,074. Additionally, all models are subject to a substantial $1,895 destination charge.
Despite the price increases, the F-150 Lightning still remains in high demand. The truck boasts impressive performance, an extensive list of standard features, and a spacious, well-equipped crew cab interior. Ford provides the all-wheel-drive vehicle in various models, accompanied by two battery pack options. The maximum range currently attainable is 320 miles on a single charge. The F-150 Lightning is among the three electric pickup trucks presently available on the market, with more expected to arrive in the upcoming years.
According to Ford, the price adjustments were made after evaluating the costs of key components such as batteries, metals, and labor. The automaker also mentioned that it is working on expanding its battery production capabilities to help reduce costs in the long term, which could eventually lead to more affordable electric vehicles.
The price hike is not unique to Ford, as other automakers have also been grappling with the rising costs of materials and labor in recent times. The automotive industry has been facing supply chain disruptions and chip shortages that have resulted in increased production costs. As a result, many companies are passing these additional expenses onto consumers in the form of price increases.
While this latest price increase may come as a disappointment to some, the F-150 Lightning remains an attractive option in the electric pickup market. As the industry continues to evolve and adapt to the challenges of rising costs, it will be interesting to see how Ford and other automakers navigate these hurdles to maintain their competitiveness and appeal to consumers.