Ford offers 17% cut in price of electric F-150 Lightning trucks

By Editor


Ford Motor, one of the leading automakers in the United States, has announced a significant price reduction for its popular electric F-150 Lightning trucks. The price cuts, amounting to approximately 17 percent for the base variant, come as part of an escalating electric vehicle (EV) price war ignited by industry frontrunner Tesla.

Customers can order their F-150 Lightning from their local dealer here or in-store.

Earlier this year, Ford had increased the prices of its F-150 Lightning trucks. However, advancements in scale and a decline in battery raw material costs have enabled the company to pass on these savings to customers, resulting in the price reduction.

This move by Ford comes in response to Tesla’s aggressive pricing strategy, which triggered a price war in the EV market. As sales begin to slow, legacy automakers find themselves with an excess inventory of EVs. Ford’s EV sales fell by 2.8 percent in the quarter ending in June, prompting the company to reassess its pricing strategy.

Marin Gjaja, Chief Customer Officer at Ford Model, acknowledged the challenges faced by the company following the launch of the F-150 Lightning. Rising material costs and supply constraints had driven up the price for both Ford and its customers. However, the company has been working diligently to improve accessibility and affordability, resulting in the recent price reductions and reduced wait times for customers.

One of the factors influencing the cost of EVs has been the price of battery raw materials, such as cobalt and lithium. Fortunately, these costs have seen a decline, leading analysts to predict further decreases in commodity prices during the second half of the year. Ford has also strengthened its sourcing options by securing new supply deals for battery-grade lithium, helping the automaker meet its goal of producing 2 million EVs by 2026.

Ford’s price cuts are applicable to all variants of the F-150 Lightning model. The base Pro variant now carries a suggested retail price of $49,995, down from its previous price of $59,974. Similarly, the higher-end Platinum model will be available at a reduced price of $91,995, reflecting a 6.2 percent decrease.

These price reductions are expected to make Ford’s electric trucks more accessible and competitive in the evolving EV market. As automakers strive to meet consumer demand for affordable and sustainable vehicles, this price war is likely to result in further reductions across the industry, benefitting consumers who are considering making the switch to electric vehicles.

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