#EVprices

Earlier this year, Tesla heavily cut prices, stirring anger from some owners over the steep decrease in vehicle values. That hasn’t deterred the automaker, as it recently lowered prices on the Model S and Model X.

Automakers would love to have you believe that they all march to their own drummers, but the reality is that the market is tied together in ways both obvious and less so. Yesterday, Ford announced it would cut prices and bump production for the Mustang Mach-E, a likely response to Tesla’s massive recent price cuts. Most other automakers are yet to respond, but Volkswagen wasted no time announcing that it would not follow Tesla and Ford with price cuts on its EVs.

Ford increased pricing on the F-150 Lightning EV substantially this week, citing “significant material cost increases and other factors.” The all-electric model now comes with an MSRP that ranges between $46,974 (for the base Pro trim) and $96,874 (for the Extended Range Platinum). All told, the decision has made the pickup anywhere from $6,000 to $8,500 more expensive than it was just a few days earlier. In exchange, Blue Oval has ever so slightly upgraded the maximum range of some of the lower trims. But some of us would probably prefer a more comprehensive explanation as to what’s causing EV prices to surge in general, because it’s not just Ford that’s been raising the sticker price of in-demand electric vehicles.