Price Increases, But a Markdown Too
The rates of the Ford F-150 Lightning have seen a drastic surge over the last year due to certain aspects and this tendency looks like it will persist throughout 2024. For 2021, the Blue Oval manufacturer is adding additional increments to the cost of the 2024 edition, which has been fastened by a resulting curtailment of production arranged to meet the demand in the industry.
As per Automotive News, the entry-level F-150 Lightning Pro carries a price tag of $57,090, representing a sizable jump of $5,000. Thus, it begins to rival the Tesla Cybertruck’s base cost of $60,990, which means the Ford electric truck is no longer seen as a cheap option. However, this isn’t a shock, considering it has been made known that Ford faces a deficit of $36,000 for each EV sold.
Potential shoppers of the XLT Standard Range version may be dismayed to learn of its new cost of $67,090 – a significant surge of $10,000. In addition, both the Standard Range variant from the Lariat trim and the Extended Range edition are being done away with. The F-150 Lightning Lariat Extended Range’s MSRP has also swelled by $2,000, now priced at $81,950.
The recently released, feature-packed XLT trim, dubbed the “F-150 Lightning Flash,” has received a price hike, hitting the market at a cost of $75,590 versus the initially quoted rate of nearly $70k.
On the positive side, Ford have decided to reduce their prices for the top-end Platinum option. The 2024 F-150 Lightning Platinum model will be priced at an advantageous $87,090, being rewarded by a substantial $7,000 decrease in price. Additionally, the ritzier Platinum Black trim can avail itself of a $5,000 discount, bringing its pricetag down to $95,090.
All the revised prices take into consideration the obligatory shipping expense of $2,095, which has been augmented by $100.
In contrast to the Ford E-Transit as well as Mustang Mach-E, the F-150 Lightning is still eligible for a sizable $7,500 federal tax break due to the transformation of the Inflation Reduction Act. Ideally, this beneficial tax credit and the decrease in production to 1,600 units (from the previously 3,200 units) on a weekly basis will aid Ford in increasing sales as well as profitability.
“The F-150 Lightning has been America’s best-selling electric pickup truck in the fourth quarter, and the demand keeps rising,” stated a Ford representative. “We are making modifications to pricing, production, and trim levels to reach the ideal combination of sales growth, profitability, and customer access to the IRA tax benefit.”
