Ford Motor Company announced Tuesday that prices for the all-electric F-150 Lightning lineup are going to rise by between $6000 and $8500 for the 2023 model year. The automaker cited a significant price increase for the materials required to build the electric vehicle as the culprit.
The entry-level Lightning Pro model will carry an MSRP of $48,769 in 2023, including destination charges. That’s a $7000 increase over last year’s starting price of $41,769. The XLT trim sees a slightly smaller jump of $6500, bringing the new base price up to $61,269. Opt for the longer range battery pack however and you’ll be looking to drop $82,769 on your EV. The small battery Lariat model will start at $76,269, whereas the big-battery model will require an $87,769 check. Those represent price increases of $7000 and $8500, respectively. The range-topping F-150 Lightning Platinum sees the smallest price jump of just $6000, now carrying an MSRP of $98,669.
Catch all of that?
According to the automaker, this adjustment to the 2023 Ford F-150 Lightning lineup will have no impact on customers who have already secured an order slot. The same can’t be said for current reservation holders who previously chose to wait for their preferred production specification to become available. That’s an important detail in this case, as Ford is currently preparing to reopen the ordering book to another wave of F-150 Lightning customers on Thursday. Ford closed orders late last year in response to the overwhelming demand for the truck, taking on over 200,000 reservations following the debut event. According to CNBC, the automaker has only delivered around 4,400 units since May. Ford hasn't yet confirmed whether this change applies to 2022 or 2023 model year vehicles.
This price hike isn’t exclusive to the electric pickup, however. Over the past two years, we’ve seen the internal-combustion F-150’s base price increase by nearly $2000 annually, now sitting at $35,880 for the 2023 model. A similarly equipped truck ran customers just $30,895 in 2021, according to Car and Driver. General Motors has also shifted its full-size truck pricing to deal with growing materials costs during the ongoing supply chain crisis. Ford does plan to give customers some added value for that cash, as the automaker now rates the standard 98.0-kWh battery pack for 240 miles of range per charge. Though 10 miles of additional range doesn’t necessarily make up for the huge price increase.
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