According to a Ford spokesperson speaking with Reuters, the price hikes come as the automaker grapples with supply chain issues and inflation, specifically blaming “”ongoing supply chain constraints, rising material costs and other market factors.”
Other automakers have also increased prices over the past year, including the likes of Tesla and Rivian, for example.
Ford says existing orders scheduled, including commercial and government orders will not see the price hike.
Earlier this week, Ford reported its Q3 sales, which were up 15.9% year-over-year, at 464,674 vehicles sold. EV sales increased 197% for Ford, with F-150 Lighting sales at 1,918 in September and 8,760 since June. Mustang Mach-E sales increased 47% year-over-year.
Tesla, under the leadership of Elon Musk, could potentially garner earnings as high as $3 billion by the end of the decade, leveraging its charging network agreements with automotive giants Ford and General Motors. The projection comes from an analysis conducted by Piper Sandler, reports Bloomberg. The most recent agreement was announced on Thursday in […]
In what looks to be a surprise move, Ford announced today that it has reached an agreement with Tesla, granting Ford electric vehicle (EV) customers access to over 12,000 Tesla Superchargers across the U.S. and Canada. This move, set to take effect in early 2024, will effectively double the number of fast-chargers available to Ford […]
Ford CEO Jim Farley has revealed exciting details about the company’s electric vehicle (EV) initiatives during a Capital Markets day for investors. The highlight of the presentation was the unveiling of a new battery-electric three-row SUV set to launch in 2025. This vehicle will be the people-hauler sibling of the successor to the F-150 Lightning, […]
