The F-150 Lightning now starts at under $50k once more.
Ford has announced significant reductions in the base MSRP of the Ford F-150 Lightning across the range, undoing months of price hikes spurred on by production and supply issues.
“Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints, and other factors drove up the cost of the [electric] truck for Ford and our customers,” said Marin Gjaja, chief customer officer for Ford Model e. “We've continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning.”
The accessibility part was taken care of when Ford canned the Lightning reservation program in May, and now the company is following through on making pricing less painful.
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The F-150 Lightning Pro has seen the greatest price adjustment, dropping $9,979 to have a new base MSRP of $49,995. The next trim is the XLT, and with the 311A equipment group, this now costs $54,995, saving $9,479. With the 312A group, the truck costs $59,995, down $8,479. The 312A Extended Range model saves even more, dropping $8,879 from its price to start at $69,995.
The Lariat 510A costs the same, a saving of $6,979, while the Lariat Extended Range now costs $77,495, saving $8,479. Finally, the Platinum Extended Range costs $91,995, a reduction of $6,079.
As before, destination and delivery costs an additional $1,995 on all trims. Many of the models are also eligible for as much as $7,500 in tax credits as a result of the Inflation Reduction Act.
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Ford attributes its ability to reduce prices to “increased plant capacity, continued work on scaling production and cost, and improving battery raw material costs.” As a result of this increased production capacity, customers should face shorter wait times too. But things will improve further, as Ford is still upgrading the Rouge Electric Vehicle Center in Michigan. The plant is currently closed for these improvements, with the goal of producing 150,000 Lightning pickups annually.
Regardless of the reason, this price reduction comes at a great time. For one thing, Ford F-150 Lightning price increases have been somewhat frequent since its launch, and with the Tesla Cybertruck nearing full-scale production, customers may have begun to consider shopping away from Dearborn. Now that the Lightning starts below $50,000 again, choosing Ford may be a no-brainer.
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Keyword: Official: Ford Drops F-150 Lightning Prices By As Much As $10k