Ford has announced new pricing for its 2024 F-150 Lightning electric truck, revealing significant increases across multiple configurations.
The base model, known as the Pro, will start at $52,090, marking a $2,095 increase from its 2023 price. The XLT variant will cost $59,590, up by more than $2,500, while the Lariat model will see a substantial hike to $79,590, an increase of $9,595, points out Autoblog.
Pricing for the 2024 Platinum variant has not been disclosed yet, but the 2023 model started at $91,995. Additionally, Ford has introduced a new Flash trim, positioned between the XLT and Lariat, priced at $72,090.
Earlier this summer, Ford cut prices on the F-150 Lightning, and now they’re back up.
The price adjustments come at a time when some automakers, notably Tesla, are considering price cuts and incentives to boost demand. Ford itself has experienced fluctuating demand for the F-150 Lightning, leading the company to reduce a production shift in October, mere months after announcing plans to triple production.
The electric truck market is set to become more competitive, with Chevrolet and GMC nearing the launch of their Silverado and Sierra EVs, and Ram expected to release the 1500 REV later in 2024. Tesla is set to deliver its first Cybertruck at an event on November 30.
Changes to federal tax credit rules could also impact pricing and demand. The new rules will allow buyers to use year-end tax credits as down payments, potentially spiking demand early in the year. However, the top trims of expensive EVs like the F-150 Lightning are likely to remain unaffordable for most buyers.
The more I think about how hard it is for legacy auto to come out with compelling EVs at reasonable prices AND still make a profit, the more I realize they just won’t make it. The software alone (Ford’s 150 different suppliers) breaks their backs. Too little too late, and pickups are pretty much the only segment they had a chance in, at least in North America anyways. China and Europe are closing their doors to the Not So Big Three and Tesla is flanking them in their home turf. Toyota and VW are both in the same boat with their lower priced cars. The next 2-3 years are going to be exciting to say the least.