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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.

Ford F-150 Lightning pricing

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.

ModelPrevious MSRPUpdated MSRPAdjustment
Pro$59,975$49,995$(9,979)
XLT 311A$64,474$54,995$(9,479)
XLT 312A$68,474$59,995$(8,479)
XLT 312A Extended Range$78,874$69,995$(8,879)
Lariat 510A$76,974$69,995$(6,979)
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.

The bottom line

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.

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Tim Esterdahl

Automotive Journalist Tim Esterdahl has been a lover of trucks and SUVs for years. He has covered the industry since 2011 and has pieces in many national magazines and newspapers. In his spare time, he is often found tinkering on his '62 C10 pickup, playing golf, going hunting and hanging out with his wife and kids in Nebraska.

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