Ford F-150 Lightning electric pickup gets another price hike

Ford employees build the F-150 Lightning electric pickup at the automaker’s Ford Rouge Electric Vehicle Center (REVC) on December 13, 2022.

Michael Weiland | CNBC

Detroit – ford motor has again raised the starting price of its electric F-150 Lightning, citing rising raw material costs for pickup trucks.

The new F-150 Lightning Pro will be priced at $55,974 for the entry-level model for commercial and business customers. This is nearly 8% ($4,000) higher than the previous price and a 40% increase. Original price from $39,974 Announced in May 2021.

A Ford spokeswoman said in an emailed statement on Friday that the company will adjust vehicle prices “due to rising material costs, market factors and ongoing supply chain constraints as part of its normal practice.”

Ford first made waves when it announced the starting price of the Lightning will be about $40,000, making it more affordable than many EVs on the market. Wall Street praised the vehicle and was a huge boost for the company at the time.

However, the cost of critical raw materials such as cobalt, nickel and lithium significantly increased Amid rising demand and supply chain issues.

Latest price increase – at least 3rd time this year – Ford plans to expand production of electric pickups to 150,000 by next fall. Earlier this week, the company said it planned to do so. Added 3rd shift for workers To the Michigan plant that produces vehicles.

“Demand for this groundbreaking vehicle is strong and continues to grow. We will continue to monitor pricing throughout the model year,” a spokesperson said in an emailed statement.

Ford had sold only 13,258 F-150 Lightnings by the end of November. Ford F-150 Lightning electric pickup gets another price hike

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