Why is Ford Slashing F-150 Lightning Costs? | The Each day Drive

F-150 Lightning costs are coming down. Right here’s why:

Ford F-150 Lightning XLT
Ford F-150 Lightning XLT

Whereas the much-celebrated Ford-150 Lightning technically qualifies for the Federal Authorities’s full $7500 electric-vehicle tax credit score, the truth is that few consumers of the pickup truck truly see any of that cash. The issue is, although the Lightning meets the Fed’s nation-of-origin and domestic-content necessities for the credit score, most Lightnings drift comfortably over the $80,000 Fed value cap.

Extra electric-vehicle information and evaluations

F-150 Lightning Costs

Truth: The Ford F-150 Lightning bought costly.

Ford has raised F-150 Lightning costs 4 occasions because the truck was launched, principally lately this previous March. With every value bump, Ford representatives cite rising prices and supply-chain points as the first drivers for the sticker-price inflation.

Ford F-150 Lightning Prices
Ford F-150 Lightning Costs

Sturdy demand for the Lightning had given Ford the ability to boost costs, although that demand appears to have lastly softened. Amid a slowdown in orders for the Lightning, and a rising provide of unsold examples, Ford lately lower Lightning costs by as a lot as $10,000.

The worth cuts, per Ford, are made potential by falling costs for lithium, a key element of the batteries that energy the Lightning. Ford additionally cites improved manufacturing efficiencies realized on account of higher plant utilization for the fee reductions.

CES 2022: 2024 Chevrolet Silverado EV

Rouge Electric Vehicle Center
Rouge Electrical Automobile Middle

Essentially the most-significant value discount comes on the fleet-only Professional, which drops in value, together with the vacation spot cost, from $61,969 to $51,990.  Be aware that this mannequin was priced at simply $39,974 when the Lightning was launched in Could of 2021.

The favored XLT with the extended-range battery drops from $80,869 to $71,990, transferring it beneath the $80,000 Federal-incentive value cap.

The topline Lightning Platinum drops from $100,069 to $93,999. Platinum fashions come normal with the extended-range battery.

Listed here are a couple of components which can be dampening shopper curiosity within the F-150 Lightning:

  • The long-awaited Tesla Cybertruck, which was first seen in 2019 in idea type, seems to be nearing manufacturing. It’s possible many would-be electrical pickup-truck consumers are ready to see the radically designed pickup earlier than committing to the Ford.
  • Along with the Cybertruck, electrical pickup vehicles from Chevrolet, GMC, and Ram are on the near- and midterm horizon. All three of the vehicles promise aggressive pricing and larger vary than the Lightning. Once more, some customers are possible taking a wait-and-see perspective on an EV pickup buy.
  • And, as famous above, Lightnings fitted within the most-popular trim ranges have been pricing out above the Federal-incentive value cap. The $9000 value discount on the XLT trim stage geared up with the long-range battery ends in a internet shopper value discount of roughly $16,500 now that the tax credit score is again in play. Anticipate demand for the XLT to enhance considerably on account of the value adjustment.

“There are numerous components at play with the value drop on the Ford F-150 Lightning,” notes Jill Ciminillo, Managing Editor of Pickup Truck + SUV Discuss, “Along with making an attempt to drop under the Inflation Discount Act value caps, Ford additionally has to cope with Tesla value cuts—which have an effect on each new and used EV costs. You even have to take a look at the value of lithium, a serious element utilized in constructing EV batteries, which has been steadily falling. So, elevated manufacturing capability on the Rouge Electrical Automobile Middle, plus different value cuts, are enjoying into this. The top consequence: total higher pricing for shoppers.”

Be aware: Ford is providing shoppers a $1000 rebate for ordering a brand new Lightning on-line earlier than the tip of July. That is the primary buyer incentive—aside from the value cuts—supplied on Ford’s electrical pickup truck.

2023 CES: 1500 Ram Revolution BEV Idea

F-150 Lightning Pro
F-150 Lightning Professional

Take heed to the Client Information Automotive Stuff Podcast

Follow Tom on Twitter

F-150 Lightning Gallery

(Click on under for enlarged photographs)

Not Able to Go Electrical? No Worries. Right here’s Why:

Car Stuff Podcast