Ford Slashes F-150 Lightning Prices
Ford has announced substantial price reductions for the Ford F-150 Lightning, reversing previous increases caused by production and supply challenges.
“After the launch of the F-150 Lightning, rising material costs and supply constraints resulted in higher prices for the [electric] truck for both Ford and our customers,” stated Marin Gjaja, Chief Customer Officer for Ford Model e. “We have been working diligently to improve accessibility and affordability, reducing prices for our customers and shortening wait times for their new F-150 Lightning.”
Ford discontinued the Lightning reservation program in May to enhance accessibility. Now, the company is delivering on its commitment to making pricing more favorable. The F-150 Lightning Pro experienced the largest price adjustment, with a reduction of $9,979, bringing the new base MSRP to $49,995. The next trim, XLT with the 311A equipment group, is now priced at $54,995, resulting in savings of $9,479. With the 312A group, the truck costs $59,995, a decrease of $8,479. The 312A Extended Range model offers even greater savings, starting at $69,995 after a price drop of $8,879.
Ford Slashes F-150 Lightning Prices
The Lariat 510A remains priced the same, with a saving of $6,979, while the Lariat Extended Range now costs $77,495, resulting in a saving of $8,479. Lastly, the Platinum Extended Range is now priced at $91,995, reflecting a reduction of $6,079.
As before, a destination and delivery fee of $1,995 applies to all trims. Additionally, many models qualify for up to $7,500 in tax credits under the Inflation Reduction Act. Ford attributes the price reductions to “increased plant capacity, ongoing efforts to scale production and reduce costs, and improvements in battery raw material costs.” As a result of increased production capacity, customers should experience shorter wait times. Furthermore, Ford is currently upgrading the Rouge Electric Vehicle Center in Michigan, aiming to produce 150,000 Lightning pickups annually.
This price reduction comes at an opportune time. The Ford F-150 Lightning has experienced several price increases since its launch, and with the Tesla Cybertruck approaching full-scale production, customers may have considered other options. However, with the Lightning now starting below $50,000, choosing Ford may be an obvious choice.
Competitors Ford F-15
Chevrolet Silverado: The Chevrolet Silverado is a popular full-size pickup truck that competes directly with the F-150. It offers a range of powerful engine options, advanced technology features, and various trim levels to cater to different customer preferences.
Ram 1500: The Ram 1500 is another strong contender in the full-size pickup truck segment. It is known for its luxurious interior, smooth ride quality, and innovative features such as the available 12-inch touchscreen infotainment system.
GMC Sierra: The GMC Sierra shares many similarities with the Chevrolet Silverado as they are both part of General Motors’ lineup. It offers similar engine options and features but has a more upscale and refined design, targeting buyers who prefer a more premium experience.
Toyota Tundra: The Toyota Tundra is a reliable and durable pickup truck that competes with the F-150. It is known for its robust V8 engine options, spacious cabin, and off-road capabilities in certain trims.
Nissan Titan: The Nissan Titan is a full-size pickup truck that offers a compelling combination of power, comfort, and technology. It features a strong V8 engine, a user-friendly infotainment system, and available advanced safety features.
These are just a few examples of the competitors in the full-size pickup truck market. Each brand offers unique features and strengths, giving consumers a variety of options to choose from based on their specific needs and preferences.