Photo: Jim Farley
Ford says it’s increasing prices of the F-150 Lightning because of “significant material cost increases and other factors,” following suit with other automakers that have raised prices due to the cost of raw materials.
New buyers of the Ford F-150 Lightning can expect price increases of between $6,000 and $8,500, depending on the model, according to a report from CNBC.
Buyers who have already ordered an F-150 Lightning and await delivery will not be affected by the price increases. However, it may impact some number of reservation holders who haven’t submitted an order yet.
Ford Mustang Mach-E Profits Cut by Inflation, But Demand Remains: CFO https://t.co/M19PBdDxDO
— TeslaNorth.com (@RealTeslaNorth) June 15, 2022
With the recent price increases, the 2023 F-150 Lightning will now start at prices between $47,000 and $97,000, excluding taxes, shipping and delivery costs. Previously, prices ranged from $40,000 to $92,000, marking a significant increase.
Other automakers such as General Motors (GM), Rivian, Lucid and Tesla have all faced pricing increases. Tesla CEO Elon Musk even name-dropped raw materials costs as the reason for price increases earlier this year.
GM’s Hummer EV has increased in price by $6,250, largely blaming supply chain and logistical issues.
Ford also recalled F-150 Lightning models in June, affecting roughly 2,900 of the electric pickup trucks. The recall came just about four weeks after Ford’s first F-150 Lightning delivery in May.
