Ford Reduces Cost of F-150 Lightning by $10,000

Ford is reducing the price of the F-150 Lightning by up to $10,000, making the electric truck more affordable. The base model, F-150 Lightning Pro, will now cost $49,995, a decrease of nearly $10,000. The highest-end model, Platinum Extended Range, will see a price reduction of just over $6,000, bringing its price to $91,995.

The automaker says enhanced production capacity, its ongoing efforts to scale costs and production, and improved battery raw material costs are helping it push prices back down. Its Rouge Electric Vehicle Center in Michigan is closed for the time being as it upgrades the facility with the goal of producing 150,000 F-150 Lightning trucks there annually. The company says that more electric cars will be available already in October.

Ford raised the price of every trim last August and again the price of the base model in December and March due to delivery issues and increased material costs. Over the past few months, the F-150 Lightning Pro has gone for about 50 percent more than its original price.

The company has yet to bring the F-150 Lightning back to its original $40,000 starting price, though these price cuts are welcome news for those who have been on the fence about getting one. People who order an XLT, Lariat or Platinum trim by July 31 will get a $1,000 bonus, while Ford notes that buyers can get up to a $7,500 tax credit. Orders are now open to everyone.

The price of the F-150 Lightning is dropping just after Tesla started production of the Cybertruck over the weekend. Tesla has cut the prices of its electric cars several times this year to help it increase shipments and make it more competitive in an increasingly crowded market. F-150 Lightning owners will be able to charge their vehicle’s battery at more than 12,000 Tesla Superchargers in the United States and Canada beginning in early 2024.