Published , by Morgan Shaver
Published , by Morgan Shaver
Back in August, it was revealed that Ford was raising the prices of its F-150 Lightning EV due to increasing cost of materials. At the time, the price increase saw the price of various models increase anywhere from $6,000 to $8,500, with prices ranging anywhere from a $47,000 (USD) price point all the way up to $97,000.
For those still looking to purchase an entry-level model closer to that $47,000 range, there was less than stellar news that dropped in regards to Ford today as it was revealed that the company is hiking prices on its F-150 Lightning EV once more. The latest increase is one that’s focused on the starting price of its entry-level models, raising the cost by $5,000 for the 2023 model year. This marks the second time in two months that Ford has raised prices on its F-150 Lightning EV.
Now, customers looking at entry-level models such as the 2023 Lightning Pro can expect to pay around $51,974 which, as noted by outlets like CNBC, is up almost 11 percent from the vehicle’s previous price point and up 30 percent from what it was priced at back in May of 2021 at $39,974.
As previously mentioned, models had ranged from $47,000 to $97,000, but will now range from $52,000 to $97,000. The reason Ford provided for its second price increase is similar to the reasoning behind the first, with Ford explaining the price adjustment comes due to “ongoing supply chain constraints, rising material costs, and other market factors” before mentioning it will continue to monitor pricing across the model year. Fortunately, current retail order holders along with commercial and government customers with scheduled orders won’t be affected by the price increase according to Ford.
For more Ford news, be sure to read through some of our previous coverage including our initial reporting of Ford hiking prices on its F-150 Lightning EV, and Ford raising the prices of its Mustang Mach-E due to battery cost increases.