Ford hikes starting price of its electric F-150 Lightning pickup for second time in less than two months

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KEY POINTS

• Ford is increasing the entry-level price of its electric F-150 Lightning pickup by $5,000 for the 2023 model year due to rising costs and supply chain issues.
• The starting price of the 2023 Lightning Pro model will be $51,974 – up nearly 11% and a 30% increase from the truck’s $39,974 price in May 2021.
• Current retail order holders and commercial and government customers with a scheduled order will not be impacted by the price increase, the company said.

DETROIT — Ford Motor is increasing the starting price of its electric F-150 Lightning pickup by $5,000 for the 2023 model year, citing rising costs and supply chain issues.

The new price of the 2023 Lightning Pro, an entry-level model meant for commercial and business customers, will be $51,974 — up nearly 11% from previous pricing and a 30% increase from the original $39,974 price in May 2021.

In an emailed statement, Ford said it is adjusting the price “due to ongoing supply chain constraints, rising material costs and other market factors. We will continue to monitor pricing across the model year.”

Current retail order holders and commercial and government customers with a scheduled order will be unaffected by the price increase, the company said.

Ford made waves when it announced the starting price for the Lightning would be about $40,000, making it more affordable than many EVs on the market. Wall Street praised the vehicle, and it was a major boost for the company at that time, as investors were concentrating on EV start-ups.

But critical raw material costs such as cobalt, nickel and lithium have more than doubled during the coronavirus pandemic, according to a report from AlixPartners this summer.

The cost increases and other supply chain problems, which Ford estimated would result in $1 billion in unexpected costs during the third quarter, have forced automakers to increase EV prices to retain profits.

Less than two months ago, Ford announced price increases of between $6,000 and $8,500 on the Lightning, depending on the model.

The starting prices for the 2023 F-150 Lightning will now range from about $52,000 to $97,000, up from roughly $40,000 to $92,000 for the 2022 model year. Prices exclude taxes and shipping and delivery costs.

Source

 

[wwise]

I have mixed feelings about the 2023 price increases and the recent additional increase on the Pro. I think most of us knew or suspected this was coming. I hope Ford steps up with price protection for those eligible. Supply and demand. The nationwide charging infrastructure is not there yet. I would guess still 1-2 years away from being what it should be. But for mainly local drivers like me who might plan an occasional out of state trip but will rely on home charging 90% of the time I think this will be a great truck for me. To get back to the price increases, like I said previously supply and demand. The market will ultimately determine price. If Ford continues price increases and demand falls? They will adjust price accordingly I believe. Thanks. Look forward to hearing opinions out there. Walt

 

[ICED Lightning]

the most recent price increase was for the FLEET Pro ... since no Pros are available any longer in 2023 to any retail customers... so that really affects no one, at least in the 2023 model year. It's a long year away from any announcement of 2024 Pro model pricing. Ford has no competition for the Lightning, so pricing is totally up to them in the meantime.... we have no leverage to combat that. When other competitors eventually come to market, when and if, then Ford will have more pushback if pricing seems to be too high compared to those new vehicles - although, I'll also bet that none of those 'competitors' actually stick with their 'announced' low entry-level pricing, either. They may even decide to do away with the 'entry-level' model, just like RIVIAN did recently.

 

[Hersbird]

This is getting ridiculous. I just got an email saying all they planned on taking all outstanding orders by summer of 2023 but then in the next line said Pro is sold out for 2023. Well that's all I have ever wanted but not with a $11,000 price increase and potentially a DECREASE in the tax incentives. Too many other good EVs coming to pay $52,000 for a work truck.

 

[ICED Lightning]

true, and it's aggravating, and while we 'hope' that these other vehicles are as great as the Lightning, and maintain there 'announced' pricing,
most of us here are realist and understand that by the time those come to 'market' they'll be probably even HIGHER prices.

 

[frunk]

This is getting ridiculous. I just got an email saying all they planned on taking all outstanding orders by summer of 2023 but then in the next line said Pro is sold out for 2023. Well that's all I have ever wanted but not with a $11,000 price increase and potentially a DECREASE in the tax incentives. Too many other good EVs coming to pay $52,000 for a work truck.

From what I have read Ford is working on building more Pro. They said if you wanted a Pro and decline to get an up trim then your reservation will stay active so I take that to mean after we fill all upper in models then they will make more pro. So you will have to wait a lot longer

 

[Lossimo]

Gotta pay for that Blue Oval City somehow!

 

[Ssob]

From what I have read Ford is working on building more Pro. They said if you wanted a Pro and decline to get an up trim then your reservation will stay active so I take that to mean after we fill all upper in models then they will make more pro. So you will have to wait a lot longer

On a related note - I was invited to order and have opted not to due to the increase in cost of $15k+ to me (due to price increase plus loss of EV credit). My reservation was for a Lariat. I just ignored the deadline of 9/30 and still have my reservation. I assume I will be getting another invite to order since I got the email notifying me that the order banks will be opening again.

 

[frunk]

On a related note - I was invited to order and have opted not to due to the increase in cost of $15k+ to me (due to price increase plus loss of EV credit). My reservation was for a Lariat. I just ignored the deadline of 9/30 and still have my reservation. I assume I will be getting another invite to order since I got the email notifying me that the order banks will be opening again.

Have you reconsidered

 

[Ssob]

Have you reconsidered

I have decided the time is not right for me, now. I still have my reservation, in fact, I just got notification to place my order by 11/18. Only Lariat and Platinum are available. The message from Ford is that if I do not choose to order, now, my reservation will remain open, and I will be invited to order in a future wave.

Steve

 

[frunk]

I have decided the time is not right for me, now. I still have my reservation, in fact, I just got notification to place my order by 11/18. Only Lariat and Platinum are available. The message from Ford is that if I do not choose to order, now, my reservation will remain open, and I will be invited to order in a future wave.

Steve

Right keep your reservation things my change and you have an ace in the hole.

 

[Roxbury29]

Right keep your reservation things my change and you have an ace in the hole.

I am thinking the same thing. I may hold off if I can keep my reservation for a 2024.