Ford announced that it will adjust the prices of some F-150 Lightning models, increasing some models by up to $10,000 and reducing others by up to $7,000.
Starting prices for the Detroit automaker's electric pickup will range from $54,995 for the entry-level Pro model to $92,995 for the Platinum Black trim. CNBC.
Prices for the 2023 model previously ranged from $49,995 to $97,995.
Despite the F-150 Lightning Pro model's $10,000 price increase, Tesla's rival electric pickup truck, the 2023 Cybertruck, costs less than $60,990.
To get your hands on Elon Musk's futuristic all-wheel-drive truck, expect to pay $79,999, with the top-of-the-line 'Cyberbeast' version priced at a hefty $100,000. .
Meanwhile, Ford's top-of-the-line Platinum and Platinum Black F-150 Lightning EV models, which boast extended range and added “infotainment” features, cost $5,000 and $7,000, respectively, according to CNBC. dollar was devalued.
The price change does not include a mandatory $2,095 destination fee and federal or local incentives for purchasing fully electric vehicles, the newspaper reported.
The F-150 Lightning is one of only 13 electric vehicles eligible for a $7,500 federal tax credit under the Inflation Control Act, which added new rules on battery procurement that took effect on January 1. be.
Tesla notes that all-wheel drive versions of the Cybertruck are not eligible for tax credits due to new rules. Website He said it is “likely” that they will be eligible for tax cuts in “the second half of 2024.”
A Ford spokesperson said the company is “adjusting pricing, production and trim packages to achieve the best combination of sales growth, profitability and customer IRA tax benefits.”
“Prices for MY23 F-150 Lightning models remain unchanged,” the spokesperson added, adding, “The F-150 Lightning is America’s best-selling electric pickup after a record fourth quarter, and demand continues to grow.” ”.
The automaker's price adjustments come just a month after the company announced it would cut production of the electric F-150 Lightning in half in 2024.
Ford told suppliers in December that it plans to produce about 1,600 electric F-150 Lightning EV trucks per week starting in January 2024, down from the previously planned 3,200, to meet declining consumer demand. announced plans to reduce consumption by 50%.
As a result, Ford has been forced to cancel or postpone about $12 billion in future EV investments, according to CNBC.
The company has already spent about six weeks increasing F-150 Lightning production capacity at its Michigan plant in early 2023, and is preparing to produce as many as 150,000 all-electric trucks, triple the originally planned production volume. It was progressing. reported CNBC.
Ford is scheduled to report December and year-end U.S. sales on Thursday.
The company announced earlier this year that it expects its electric vehicle unit to lose $3 billion in 2023, but is on track to achieve a pre-tax profit margin of 8% by late 2026.
