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.
| Model | Previous MSRP | Updated MSRP | Adjustment |
|---|---|---|---|
| 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.
