Ford adjusts the pricing of its F-150 Lightning EV by as much as $10,000

Ford adjusts the pricing of its F-150 Lightning EV by as much as ,000


The Ford F-150 Lightning Electric Truck.

John Tlumacki | Boston Globe | Getty Images

DETROIT — Ford Motor is increasing the price of some 2024 F-150 Lightning models, while lowering the costs of its most expensive models.

The Detroit automaker confirmed Wednesday that new starting prices for the pickup will range from $54,995 for an entry-level Pro model to $92,995 for a Platinum Black trim. The models previously started at between $49,995 and $97,995 for the 2023 model.

The prices of the Platinum and Platinum Black models, with additional technologies and luxury amenities, were lowered by $5,000 and $7,000, respectively.

The price adjustments come as electric vehicle companies attempt to balance slower-than-expected consumer demand with profits. Ford has changed pricing on the Lightning as well as the all-electric Mustang Mach-E several times based on consumer demand and raw material costs.

Ford last month confirmed it would cut planned production of the F-150 Lightning roughly in half this year, marking a major reversal after the automaker significantly increased plant capacity for the EV in 2023.

“The F-150 Lightning is America’s best-selling electric pickup after a record fourth quarter, and demand continues to grow,” a Ford spokesperson said. “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.”

The price changes exclude a mandatory $2,095 destination fee as well as any federal or local incentives for purchasing an all-electric vehicle.

The F-150 Lightning is one of a limited number of vehicles that will maintain a $7,500 federal tax credit in accordance with more stringent requirements for assembly and materials for the vehicles and their batteries that took effect Jan. 1.

Sales of the F-150 Lightning have steadily increased in 2023, notching a monthly record of roughly 4,400 sold in November. The company has only sold 20,365 of the trucks this year through November, up 54% from a year earlier.

Ford is expected to report its December and year-end U.S. sales Thursday.

Don’t miss these stories from CNBC PRO:



Source

Newark air traffic controllers lost contact with planes again in overnight outage
Business

Newark air traffic controllers lost contact with planes again in overnight outage

A man stands outside Terminal C with the airport control tower in the background at Newark Liberty International Airport, on May 6, 2025 in Newark, New Jersey. Andres Kudacki | Getty Images Air traffic controllers who guide planes in and out of Newark Liberty International Airport lost radar and communication with aircraft before dawn on […]

Read More
ESPN will call its forthcoming flagship streaming app simply ‘ESPN,’ sources say
Business

ESPN will call its forthcoming flagship streaming app simply ‘ESPN,’ sources say

A general view of the ESPN logo on a camera at Simmons Bank Liberty Stadium in Memphis, Tennessee, on April 6, 2024. Wes Hale | UFL | Getty Images At long last, ESPN has chosen a name for its upcoming all-access streaming service. Ready? It’s “ESPN.” Disney’s sports media division will announce the new — […]

Read More
Something ‘striking’ is happening with apartment renters
Business

Something ‘striking’ is happening with apartment renters

Renting has its benefits. It’s usually cheaper than buying a home, and it offers the freedom of moving without much hassle. That’s why about half of apartment renters in large urban markets usually move when their leases expire. But that is not happening now. The low turnover is “striking,” according to real estate analyst Alex […]

Read More