Big price cuts for the Ford F-150 Lightning
After raising the price of its new electric pickup more than once, Ford is now introducing drastic price cuts, much to the delight of future buyers - and the frustration of existing customers. Prices are effective immediately.
"Shortly after the launch of the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the electric truck for both Ford and its customers," explains Marin Gjaja, Director of Customer Experience for Ford's Model e division. We have continued our efforts behind the scenes to make this range more affordable and accessible, to reduce prices for our customers and shorten delivery times for their new F-150 Lightning."
The Rouge electric vehicle assembly plant in Michigan is temporarily closed to complete modernization and triple annual production - an investment of some US$2 billion. The target is 150,000 F-150 Lightnings starting this fall.
Starting in October, the automaker says it will be easier for customers to take possession of their custom-ordered pickup truck, at a suggested retail price closer to those initially announced. More good news: many dealers will have units in stock and on display for the first time.
How much?
First of all, the F-150 Lightning Pro receives the biggest price cut - $15,000. It now starts at $59,000. And there's more good news: it's no longer available only to businesses, but also to individuals. In Quebec, applicable subsidies will total $12,000 (taxes included), which makes an even bigger difference. Note that this model is equipped with the smallest battery.
Next, the XLT standard-range, XLT extended-range and Lariat standard-range versions all see their prices fall by $10,000 to $69,000, $85,000 and $80,000 respectively. The extended-range Lariat costs $99,000, down $9,000.
As for the Platinum version at the top of the range, available only with the largest battery, it now starts at $115,000, a reduction of $6,000. Remember that shipping and preparation costs of $2,295 must be added in all cases.
A Ford of Canada spokesperson confirms that there are no technical changes to the vehicle. The adjusted prices are solely the result of increased production and optimized factory procedures.
That said, as we wrote in February, the automaker plans to start integrating lithium-iron-phosphate (LFP) batteries into the F-150 Lightning in 2024 to further increase production. These batteries require fewer rare and costly materials, which will again reduce prices. What's more, as Ford explains, they are highly durable and tolerate faster, more frequent recharging.
