Ford's Hot Selling Electric Pickup Truck
The Ford F-150 Lightning pickup truck is undoubtedly one of the hottest electric vehicles on the market. Soon after it was announced, Ford had taken 200,000 orders, and closed the order books as it tried to ramp up production capacity to meet demand. When the Lightning became available again, supply-chain issues and the rising cost of battery materials drove prices up higher. And now, Ford has reopened order banks for the next wave of reservation holders – and prices of most trim levels have increased again. Since its introduction, the entry-level Lightning is almost 50 percent more expensive now than in 2022.
F-150 Lightning Entry Model Only for Fleets
Ford says that current material costs and supply chain constraints are at work – along with market factors, which is shorthand for strong demand. The biggest change is to the entry-level Pro Standard Range model, which has a starting MSRP $4,000 higher. At $59,974 – a whopping $20,000 over the original $39,974 starting MSRP – it is now only available for fleet customers and will not be sold to individual users.
Configured for work, the Pro features two standard electric motors – all Lightnings are all-wheel drive – with a basic five-passenger cabin and hard-wearing vinyl trim. A 12-inch Sync infotainment system provides smartphone connectivity and intelligent navigation to find the fastest routes on long drives, including charging stops, while 2.4 kW of on-board power lets you run tools and other accessories. 18-inch wheels and all-terrain tires are standard; you’ll need to pay extra for towing packages.
F-150 Lightning Extended Range No Longer Eligible for EV Incentives
For personal use, the cheapest F-150 Lightning is now the XLT Standard Range model, which has a starting MSRP of $63,474, which is unchanged. The XLT has cloth trim, interior work surfaces, and additional LED lighting. Running boards make getting in easier, and a 360-degree camera makes parking a cinch. The extended-range battery adds significant usability, upping the EPA-rated range to 320 miles. However, the XLT Extended Range model now has a starting MSRP of $80,974, pushing it above the $80,000 threshold – meaning it is no longer eligible for the federal government’s $7,500 incentive.
The luxurious Lariat trim jumps by $1,500 to a starting MSRP of $75,974 in Standard Range, which is eligible for the incentive. Pitched more toward personal than work use, the Lariat has a geometric gray-iron satin grille, 20-inch wheels, leather seats with heat and ventilation, twin-panel glass moonroof, Bang & Olufsen sound system, power sliding rear window, and a power-operated tailgate. The touchscreen is upped to a 15.5-inch vertical-format unit, with 360-degree camera to make parking a cinch. Starting MSRP is now $74,474 for the standard range, or $85,974 for the extended-range battery – again not eligible for the federal incentive.
At a starting MSRP of $98,074 and only in Extended Range, the Platinum F-150 Lightning has gotten $1,200 more expensive, and not eligible for the incentive. Identifiable by its tinted black chrome “grille” and 22-inch bright-machined aluminum wheels, it adds heated and ventilated leather seats with multi-contour adjustments, among other luxuries.
Ford is Responding to Supply and Demand
Ford’s latest round or price increases are not the first ones. Indeed, for every trim level, the latest 2023 model year prices are thousands more than the original 2022 model year starting MSRPs. That Ford continues to sell Lightning at such a strong clip is a reflection of the desirability of the product, which has caused a disproportion between demand and supply.
On the other hand, the company has reduced prices of some Mustang Mach-E models in response to Tesla dropping prices for the Model Y crossover. It will be interesting to see Ford’s response to the imminent introduction of the Tesla Cybertruck, expected in late 2023.
