Ford made a major announcement on Monday by revealing its plans to reduce the prices of its F-150 Lightning electric pick-up trucks by up to $10,000. This decision is attributed to the declining cost of battery materials and an increase in production. Ford is looking to make its electric vehicles more affordable and accessible to customers, aiming to minimize wait times for the new F-150 Lightning models.
“Shortly after the launch of the F-150 Lightning, rising material costs, supply constraints, and other factors led to an increase in the cost of the EV truck for both Ford and our customers,” stated Marin Gjaja, Chief Customer Officer of Ford Model E. Gjaja further emphasized the company’s commitment to improving accessibility and affordability for customers, while reducing wait times for their new F-150 Lightning trucks.
In response to the challenges faced during the vehicle’s 2021 debut, Ford had previously raised the prices of the F-150 Lightning due to supply chain issues related to battery materials. However, with the stabilization of battery costs and improvements in their manufacturing plants, Ford is now ready to increase production and lower the prices once again.
As part of Ford’s national summer sales event, the company will also provide a $1,000 bonus to retail customers who customize their XLT, Lariat, or Platinum trucks through an authorized dealer or on ford.com by July 31. Additionally, most F-150 Lightning models may qualify for up to $7,500 in potential consumer and commercial electric vehicle tax credits through the Inflation Reduction Act.
These price reductions and incentives aim to make purchasing the F-150 Lightning more affordable, with entry-level models starting at approximately $50,000 and higher-end versions with extended-range Platinum trim available for around $92,000. By implementing these changes, Ford hopes to encourage more customers to embrace electric vehicles and contribute to a sustainable future.
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