The electric Ford F-150 Lightning pricing has been updated, and there’s a big drop in price for most of the models.
Ford Motor Co. says the price drop is a combination of factors, including the Rouge Electric Vehicle Center in Michigan finishing upgrades to improve efficiency. Plus, there’s been a massive drop in battery material costs, which has lead to lower prices. Lithium pricing, for example, has been in a free fall for months.
The newly updated pricing for the Ford F-150 Lightning shows each trim is going to see significant changes in price. The base model will see the biggest change with an adjustment of $9,979. This is much closer to what Ford originally announced for pricing, and the F-150 Lightning will now start at $49,995 — not including the $1,995 destination fees.
Other trims see similar price changes except for the higher trim Lariat and Platinum. There price changes are less than $7,000.
|Model||Previous MSRP||Updated MSRP||Adjustment
|XLT 312A Extended Range||$78,874||$69,995||$(8,879)|
|Lariat Extended Range||$85,974||$77,495||$(6,979|
|Platinum Extended Range||$98,074||$91,995||$(6,079)|
Ford says ordering is now open for all customers, and there is a $1,000 bonus for retail customers who build their own XLT, Lariat or Platinum truck through their dealer or via ford.com from July 6 to July 31 as part of the national summer sales event. Additionally, Ford Credit is offering eligible buyers interest rates as low as 1.9% APR for 36-months.
One of the difficult things with electric vehicles are the prices. Big price drops sound good for consumers, but they have a negative effect on used prices.
As we reported on last week, there is a surplus of used electric vehicles right now and pricing is taking a hit.
For example, many Tesla models are now tens of thousands cheaper than they were just a year ago. This is attributed to both less demand for used EVs as well as Tesla doing a similar price drop to the Ford Lightning pricing above.
So, buyer beware: Purchasing a new electric vehicle means you could be looking at much lower resale value than with a traditional gas-only vehicle.