Ford Issues Significant Price Cut For F-150 Lightning
Ford made big news when it announced the F-150 Lightning Pro and its sub-$40,000 price tag, but the automaker didn’t leave its entry-level electric truck at that price for long. Inventory and supply chain shortages and production delays caused it to raise the truck's price almost immediately, and it has been selling for top dollar since. That recently changed, however, as Ford slashed F-150 Lightning prices by up to $10,000 in some cases.
Ford said its costs have come down a bit, and production capacity increased, giving it breathing room to cut prices on its hot-selling electric truck. The Pro now starts at $51,990 after destination, far from the super reasonable intro price but better than the almost $62,000 price it had ballooned to. The top Platinum now starts at $93,990, more than $6,000 less than its price a week ago.
Ford’s moves follow Tesla’s price cuts, which stopped years of price increases earlier in 2023. While it’s a welcome decision for buyers, automakers’ decision to cut prices often runs afoul of used owners, whose vehicle values take a significant hit as new pricing drops. Tesla buyers were particularly hard hit by this change, as many had bought at higher prices in hopes of flipping the car, only to lose that opportunity as prices fell.
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