Ford said that the updates it made to the F-150 for the 2024 model year were a big deal. Turns out, those changes also come with a big price bump, because the MSRPs have risen by thousands of dollars across the model lineup.
The base F-150 XL that drops last year’s 290 hp 3.3-liter V6 for a 325 hp 2.7-liter twin-turbo EcoBoost V6 now starts at $38,565 (all prices include a $1,995 destination charge), which is $2,735 more than the 2023 model. The MSRP then jumps up to $45,890 for the more customer-oriented STX trim that wasn’t offered last year. It comes with 20-inch aluminum wheels, a 12-inch touch screen, and selectable drive modes, and is a new addition to the lineup.
The price hikes start in earnest with the F-150 XLT, which costs $5,680 more in 2024 than it did in 2023, thanks to its new MSRP of $49,615. It comes with 18-inch wheels, a chrome front bumper, Ford’s trailer assist technology, a 360-degree camera, and more.
Read: 2024 Ford F-150 Refresh Brings New Swinging Tailgate And More Hybrid Options
The F-150 Lariat will start at $66,990 in 2024, which is $7,515 more than the 2023 trim’s starting MSRP. The King Ranch is the biggest gainer, and it starts at $75,420, or $10,200 more than the model did in 2023. Now, buyers get the hybrid 3.5-liter V6 as standard, instead of the V8. The Platinum model starts at the same price, $75,420, but its MSRP was higher last year, so it only costs $8,510 more with mid-cycle refresh.
For the performance-oriented models, too, the prices have risen, but not by as much. Whereas the F-150 Tremor started at $63,325 in 2023, it carries an MSRP of $65,945 in 2024. Meanwhile, the F-150 Raptor now starts at $79,975 this year, which is just $1,205 more than in 2023. Finally, the Raptor R costs $111,550 in 2024, which is $1,560 more than last year.
It’s not entirely clear why the 2024 F-150 costs so much more than the model is replaces, but Ford attributes the increase to several updates. These include new tech and improved standard kit like the 12-inch infotainment and productivity screens and LED headlamps, and a novel tailgate that can be folded down, or opened like a door. Additionally, Ford says that beyond the new base Ecoboost V6, it also placed a greater emphasis on hybrid engines, such as the 3.5-liter PowerBoost V6 that delivers 430 hp (321 kW/436 PS) and 570 lb-ft (773 Nm) of torque.
