Ford Adjusts F-150 Lightning Prices Amid Production Cutbacks

Photo: F-150 Lightning

Ford announced on Wednesday a significant price adjustments for its 2024 model year F-150 Lightning pickups. The changes include both increases and decreases in prices across different trims, as the company aims to balance sales growth and profitability.

  • The entry-level Pro trim, primarily for commercial buyers, will see a price rise from $52,090 to $57,090.
  • The XLT standard-range trim experiences the most substantial increase, now priced at $67,090, up by $10,000.
  • Ford is discontinuing the extended-range XLT and standard-range Lariat trims for 2024.
  • The extended-range Lariat trim will cost $81,590, marking a $2,000 increase.
  • A new addition, the Flash trim, is set at $75,590, up by $3,500 from its initial price.
  • In contrast, the high-end Platinum trims are getting cheaper. The 2024 Platinum trim is now $87,090, down $7,000, and the Platinum Black trim is priced at $95,090, a decrease of $5,000.

All prices include a mandatory shipping charge of $2,095, which is $100 more than the previous year.

“The F-150 Lightning is America’s best-selling electric pickup after a record fourth quarter, and demand continues to grow. We are making adjustments to pricing, production, and trim packages to achieve the optimal mix of sales growth, profitability, and customer access to the IRA tax benefit,” said a Ford spokesperson to AutoNews.

The F-150 Lightning will retain the $7,500 federal tax credit for all trims except the Platinum, as it exceeds the $80,000 price cap for eligibility. Despite not releasing full-year sales figures, Ford reported selling 4,393 trucks in November, a monthly record, with a 54 percent increase in U.S. sales to 20,365 through November.

These pricing changes coincide with Ford’s decision to reduce Lightning production. The company informed suppliers of a planned cut in production by half for 2024, from 3,200 trucks weekly to 1,600.

In a related announcement, Ford revealed a $7,500 incentive on 2023 Mustang Mach-E crossovers leased through Ford Credit, as these models will lose access to the federal tax credit.