Ford Adjusts Pricing for F-150 Lightning Pickups, Both Increasing and Decreasing Costs

Ford to adjust pricing for their F-150 (Ford)

Ford has announced serious pricing updates for its 2024 F-150 Lightning lineup, a move aimed at addressing the sluggish sales of electric vehicles in the US market.

The changes, which include a $10,000 hike in starting prices and a $7,000 reduction on premium trims, were communicated to dealers on Wednesday, according to the Detroit Free Press.

Ford’s F-150 lightning pickup price review (Ford)

The pricing revisions come on the heels of Ford’s decision to scale back production of the F-150 Lightning in December.

The updated pricing structure for the 2024 models is as follows: Pro ($54,995, up from $49,995), XLT 311 A ($64,995, up from $54,995), Flash ($73,495, new tech-focused trim), Lariat ($79,495, up from $77,495), Platinum ($84,995, down from $91,995), and Platinum Black ($92,995, down from $97,995).

Two trims, XLT 312 A and the 240-mile range Lariat, have been discontinued. The prices do not include delivery or destination fees, which can add up to $2,095 to the final cost.

According to a Ford spokesperson, the pricing changes are intended to optimize sales growth, profitability, and customer access to the IRA tax benefit.

Interestingly, the two F-150 Platinum trucks, which saw price reductions, are the only models in the lineup that do not qualify for the $7,500 federal tax credit.

Despite a steady increase in sales, Ford’s EV business has lost $3.1 billion as of October 2023, leading the company to reassess its capacity and put plans for a Kentucky “mega campus” EV battery factory on hold.