Equally important, production has resumed to normal output.
Ford has confirmed to Automotive News that the 2023 F-150 Lightning has received yet another price increase this year. The first time was last December and the latest increase is definitely raising eyebrows. Why? Because the base F-150 Lightning Pro now begins at $61,869 – that's around $20,000 over its April 2022 launch price tag. The new price does factor in the $1,895 destination fee.
Between December 2022 and the present day, the F-150 Lightning Pro costs $4,000 more but we need to point out that during a chunk of that period, the Rouge Electric Vehicle Center factory near Detroit was shuttered following a vehicle battery fire in February that led to a recall of 18 examples. The issue has since been resolved and the factory is now back at full production capacity. The entry-level Pro is not the only trim to see a price increase.
The Lariat now kicks off at $77,869 (previously $76,369) while the fully-loaded Platinum can't be had for less than $99,969, an increase from $98,769. How much longer Ford will be able to keep that trim under $100,000 remains unknown but we would not be shocked to see it surpass that six-figure mark for 2024. So what's the cause for the price increases?
The Blue Oval says that it's due to “current material costs, market factors and supply chain constraints.” None of those reasons should come as a surprise because they're not new as the country continues to battle things like inflation. Still, we have absolutely no doubt Ford will have any trouble selling Lightnings. The Pro remains sold out for retail buyers but order banks for commercial customers will re-open next month.
The good news is that the XLT, XLT High, XLT Extended Range, and Lariat Extended Range prices remain the same since December, starting at $65,369, $70,869, $82,869, and $87,869, respectively (including the destination charge).
To keep up with demand, Ford announced a production increase in December and 250 additional jobs at that Michigan facility in order to accommodate a third shift. The factory is currently operating seven days a week on 10-hour shifts. The goal is to achieve a production rate of 150,000 trucks annually by this fall. In February, Ford announced that the F-150 Lightning XLT and Mustang Mach-E Select trims will both be receiving less expensive LFP batteries next year to help lower overall costs.
Keyword: 2023 Ford F-150 Lightning Price Increases For A Second Time