Ford has announced significant price reductions for its F-150 Lightning lineup. Following four consecutive price increases, the electric truck will now start at $51,990, marking a reduction of $9,979 from the previous hike. However, it remains $10,321 more expensive compared to its initial production in April 2022.
The starting price applies to the F-150 Lightning Pro, which is primarily intended for commercial use. The Pro version, equipped with a Standard Range battery providing an estimated 240 miles of range, is currently sold out for retail customers for the remainder of the 2023 model year, according to a Ford spokesperson.
Retail customers are now required to opt for the F-150 Lightning XLT, starting at $56,990, a reduction of $9,479 from its previous price. This configuration includes the 240-mile Standard Range battery. Additionally, an Extended Range battery offering 320 miles of range is available for an additional $15,000, bringing the base price to $71,990. This represents a price reduction of $8,879 compared to before the recent announcement.
Moving up the range, the Lariat variant with the Standard Range battery starts at $71,990, while the Lariat Extended Range is priced at $79,490. Both configurations have seen reductions of $6,979 and $8,479, respectively. The top-of-the-line Platinum model now starts at $93,990, a reduction of $6,079.
All prices mentioned include a $1,995 destination charge, and most F-150 Lightning models are eligible for potential Inflation Reduction Act tax credits worth $7,500, as per Ford.
The updated pricing is immediately effective for deliveries starting from today. Customers who have already placed orders and are awaiting their trucks will receive the new pricing.
Ford attributed the latest price reductions to improved economies of scale at its Rouge plant in Dearborn, Michigan, where the trucks are manufactured. The plant is currently closed for final upgrades and is expected to reopen in the fall with a targeted annual production rate of 150,000 trucks.
Additionally, Ford cited improved battery raw material costs as contributing to the price cuts. Marin Gjaja, Chief Customer Officer of Ford Model E, stated that the company has been working behind the scenes to enhance accessibility and affordability, aiming to lower prices for customers and reduce wait times for the F-150 Lightning.
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Frequently Asked Questions (FAQs) about F-150 Lightning price cuts
Q: What is the starting price of the Ford F-150 Lightning?
A: The starting price of the Ford F-150 Lightning is now $51,990.
Q: Has the price of the F-150 Lightning decreased?
A: Yes, Ford has implemented price cuts across the F-150 Lightning lineup, resulting in a reduction in prices.
Q: Are there different battery options available for the F-150 Lightning?
A: Yes, the F-150 Lightning offers a Standard Range battery with an estimated 240 miles of range. Additionally, there is an Extended Range battery option that provides 320 miles of range.
Q: Are there any tax credits available for the F-150 Lightning?
A: Yes, most F-150 Lightning models are eligible for potential Inflation Reduction Act tax credits of $7,500.
Q: Why did Ford reduce the prices of the F-150 Lightning?
A: Ford implemented price cuts due to improved economies of scale at the Rouge plant and improved battery raw material costs.
Q: Will customers who have already ordered the F-150 Lightning receive the new pricing?
A: Yes, customers who have already placed orders and are awaiting their trucks will receive the new pricing.
Q: When will the Rouge plant reopen and what is the expected production rate?
A: The Rouge plant is expected to reopen in the fall with a targeted annual production rate of 150,000 trucks.
Q: Is the F-150 Lightning Pro version available for retail customers?
A: The F-150 Lightning Pro version, designed for commercial use, is sold out to retail customers for the remainder of the 2023 model year. Retail customers will have to consider the F-150 Lightning XLT instead.
Q: How much has the price been reduced for the different F-150 Lightning models?
A: The price reductions vary depending on the model. The F-150 Lightning XLT, Lariat, and Platinum models have seen price reductions ranging from $6,079 to $9,479.
5 comments
Wow, the F-150 Lightning just got a massive price cut! It’s great to see electric trucks becoming more affordable. Ford is really trying to make it accessible to a wider audience.
ford slashes the price of the f150 lightning thats gr8 news for customers n reduced wait times. hope they can keep up wth demand.
F150 lightnin price goin down! Finally, Ford wizened up and made it mor affrdable. I’m all in for the lightning XLT!
F-150 lightning gets pric cut! Thats what I’m talkin about. Ford knows how to keep their customers happy. Now I just need to decide between the Standard Range and Extended Range battery options. Decisions, decisions…
Can’t wait to get my hands on the F-150 Lightning! The new price cuts mean I can upgrade to the XLT model without breaking the bank. Kudos to Ford for makin it happen!