Photo: F-150 Lightning
Ford Motor has increased the price of its F-150 Lightning Pro electric truck, now from $55,974 USD, a nearly 8% increase.
According to a Ford spokesperson in a statement to CNBC, the price hike was related to higher raw material costs for the electric truck.
The F-150 Lightning Pro’s starting price increased $4,000 USD for both commercial and business customers. The new starting price of nearly $56,000 USD is now 40% higher compared to original pricing first released in May 2021.
Ford said in a statement the price adjustment was “as a normal course of business due to rising material costs, market factors, and ongoing supply chain constraints.”
This is the third price hike of 2022 for the F-150 Lightning, which Ford plans to make 150,000 annually by the fall of 2023. Ford said it was on track for this production goal, with its Michigan plant recently adding a third shift towards production.
“Demand for this breakthrough vehicle is strong and continues to grow, we will continue to monitor pricing through the model year,” said Ford to CNBC in a statement.
Ford F-150 Lightning sales through the end of November has come in at 13,258 units.
