Ford reverses course, cuts F-150 Lightning prices by up to $5,500

Ford is chopping costs on some 2024 F-150 Lightning electrical pickup vehicles by as much as $5,500, CarsDirect reports, citing a bulletin despatched by Ford to dealerships.

Efficient April 5, the XLT Normal Vary grade will get a $2,000 worth minimize, bringing its base worth right down to $65,090 with the necessary $2,095 vacation spot cost. The Lariat Prolonged Vary will get a $2,500 worth minimize, to $79,090 with vacation spot.

2024 Ford F-150 Lightning

The Flash Prolonged Vary— a new-for-2024 mannequin positioned between the XLT and Lariat—will get the most important worth minimize of $5,500, which means it now begins at $70,090 with vacation spot. Costs for the bottom Professional Normal Vary and range-topping Platinum Prolonged Vary are unchanged at $57,090 and $87,090, respectively, once more with vacation spot included. Fashions with an MSRP under $80,000 additionally qualify for the total $7,500 federal EV tax credit score, CarsDirect notes.

This looks as if a reversal of kind for Ford, which has resisted reducing Lightning costs throughout the lineup regardless of fluctuating demand. In January, the automaker minimize costs on top-trim variations, however added thousands to the MSRPs of the remainder of the lineup.

2024 Ford F-150 Lightning Flash

In December, when it was clear that pricing was slowing Lightning demand, Ford opted to slow production reasonably than decrease the worth of the truck. That was one of many early alerts that Ford wasn’t aiming to ramp up EV manufacturing as urgently because it had beforehand indicated.

Nevertheless it is obvious that the decrease costs Ford set for remaining 2023 inventory of the Mustang Mach-E have put some spark within the gross sales of that mannequin. Ford on Tuesday confirmed that it is holding 2024 Mustang Mach-E pricing close to these worth factors. Possibly such a worth adjustment for Lightning will do the identical.