Ford confirmed to Car and Driver that the F-150 Lightning will see an additional price hike for the 2023 model year.
The base Pro model will now start at $53,769, including the $1795 destination fee, while the top Platinum model will reach north of $97,000.
Ford says the price increase is the result of supply chain issues and higher material costs, likely for the metals used to make the electric truck’s battery.
Ford is yet again jacking up the price of the F-150 Lightning. The electric pickup truck saw a substantial price increase in August for the 2023 model year, but now the cost to purchase a Lightning has risen even higher, as first reported by CNBC. The base Lightning Pro, which originally started at $41,769 for the 2022 model year, will now start north of $50,000.
Ford wouldn’t specify the new prices. However, CNBC reported today that the Pro model will start at $51,974, although that is believed not to include the $1795 destination fee. The approximately $5000 increase is expected to affect the entire range, putting the top-dog Platinum trim over $97,000.
In a statement to Car and Driver, Ford confirmed the price hike, attributing the changes to "ongoing supply-chain constraints, rising material costs, and other market factors." The coronavirus pandemic, and subsequent supply chain complications, saw the prices of raw materials skyrocket, including cobalt, nickel, and lithium that are used extensively in electric vehicles' batteries. Supply-chain disruptions are exacerbating the problem, with Ford estimating it will log around $1 billion in unexpected supplier costs in the third quarter. Several automakers have boosted prices, including General Motors, Lucid Motors, Tesla, and Rivian. Ford also added $3000 to $8100, depending on the trim level, to the Mustang Mach-E’s price in August.
Ford said that customers who have already ordered the truck and are awaiting delivery, as well as commercial and government order holders, will not be subject to the price increase. This means the new price will only apply to new orders of the Lightning, and Ford also said that the company will "continue to monitor pricing across the model year," leaving open the possibility of a decrease should raw material costs drop and supply-chain issues get ironed out, although we wouldn’t recommend holding out hope.
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