Ford says that production efficiencies garnered by updating its manufacturing facility, as well as improving material costs, have allowed it to lower the price of the all-electric F-150 Lightning by as much as $9,979.
Read: Ford Hikes F-150 Lightning Prices Again, Now Starts At $60,000, Up From $40,000 In 2022!
While the price adjustment is no doubt welcome for consumers, it may come as a bit of a shock to owners who bought theirs in March, when prices were at their highest. Ford famously introduced the F-150 Lightning with a price of $39,974 (all prices exclude $1,995 destination charge). Since then, the lowest trim, work truck “Pro” trim has seen its price increase by $20,000, to reach an MSRP of $59,974 in March.
Now, as a result of this adjustment, Ford will charge consumers $49,995 for the F-150 Lightning Pro. Meanwhile, the rest of the lineup will lower by between $9,479 and $6,079, with the biggest price cuts coming to the least expensive models (except for the Lariat Extended Range model, whose price is cut by an impressive $8,479).
“Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the EV truck for Ford and our customers,” said Marin Gjaja, chief customer officer, 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 move follows Tesla’s decision to cut the prices of its vehicles. The California-based automaker has been leaning on its production efficiencies to lower MSRPs and keep sales volumes up. Meanwhile, Ford’s EV sales fell 2.8 percent in the second quarter of 2023.
In addition to lowering prices, the Detroit automaker is also offering a $1,000 bonus for customers who build their own XLT, Lariat, or Platinum truck between July 6 and 31. Furthermore, the upgrades to its plant will enable it to manufacture 150,000 F-150 Lightning trucks per year starting this fall.
