2023 Ford F-150 Lightning Price Cuts Bring Pro Truck Back Under $50,000
Ford is cutting the price of the F-150 Lightning, its all-electric pickup, with some trims seeing reductions of almost $10,000 from their sticker price. The news brings the F-150 Lighting back closer to its cost at launch, with the cheapest version of the truck — the Pro trim — now $49,995 plus $1,995 destination.
That's a $9,979 reduction from the current price, which Ford credits upcoming production and cost improvements at its soon-to-reopen Rouge Electric Vehicle Center in Michigan for unlocking. That facility is currently closed, as the automaker completes a number of upgrades, but is expected to resume production in fall 2023. Once complete, the plant should be capable of producing 150,000 F-150 Lightning trucks each year, triple the prior rate.
Still, even with the cut, the 2023 F-150 Lightning Pro remains around $10,000 more expensive than it was when the EV pickup first launched. Back in 2021, Ford surprised many with its aggressive pricing for the electric truck, with the Pro trim starting at just under $40,000 before destination and options.
Lightning demand quickly outstripped supply
Reservations were swiftly secured by would-be Lightning owners, with demand far outstripping Ford's production capacity. That, plus the increasing cost of materials and other constraints related to the global pandemic, left many facing extended wait periods before they could order. In the meantime, Ford's prices shifted upwards. The automaker insisted that the increases hadn't made a dint in overall sales, though given it couldn't actually fulfill all interest, it's unclear how many people who'd intended to buy a Lightning decided to hold off instead.
In March of this year, citing battery costs among other factors, Ford announced that the F-150 Lightning Pro would start at just under $60,000. Its most lavish Platinum trim broke the six-figure barrier, when mandatory destination was included. While those with a confirmed order would be unaffected by the change, unsurprisingly, Ford faced disappointment and criticism for what many potential owners and reservation holders saw as a bait-and-switch.
Nearly $10,000 price cuts on some trims
Now, the order books for the 2023 F-150 Lightning are reopening, with new pricing across the board. The XLT will now start at $54,995 (plus destination), down $9,479 from the previous price. An XLT Extended Range is down $8,879, to $69,995 (plus destination).
The 2023 F-150 Lightning Lariat also now starts at $69,995 (plus destination), or $77,495 for the Lariat Extended Range. They're reductions of $6,979 and $8,479, respectively. Finally, the 2023 F-150 Lightning Platinum Extended Range gets a $6,079 price cut, bringing it to $91,995 (plus destination).
Ford
Don't head down to your nearest Ford dealer expecting to find these reduced-price Lightning trucks on the lot, however. Ford is instead building to order, though anybody putting in an order on an XLT, Lariat, or Platinum trim version of the EV can get a $1,000 bonus if they do so between July 6 and July 31. Versions of the electric pickup under $80,000 as-configured will also be eligible for up to $7,500 in U.S. federal EV incentives. Ford tells SlashGear that customers who order a truck today can expect delivery in October 2023.