If you were thinking you might save a few bucks and get the Ford F-150 Lightning Pro instead of the Platinum, you’re still right just less so. The automaker is raising the price on its entry-level electric pickup.
Ford is hiking the price of the Lightning Pro by 11%, moving it from $46,974 to $51,974, according to multiple reports. Previously, the F-150 Lightning started at $39,974. Prices do not include destination charge, taxes, options or federal tax credits.
The company’s pointing to supply chain constraints and rising costs due to inflation as the reasons for the jump. The move comes just weeks after it raised prices on the Lightning across the board. In August, Ford upped the prices by as much as $7,000 depending upon the trim level.
Rising costs being passed to consumers
Ford is far from alone when it comes to price hikes.
Yesterday, CEO Elon Musk announced the company’s long-delayed Cybertruck, specifically the high-performance, three-motor model, will start at $69,900, not $49,900 as previously announced. It’s unclear what price the base model would fetch. The company had promised a $39,900 starting price, but that now seems doubtful.
The rising tariff comes as Tesla raised prices in March 5% to 10% on all its U.S. offerings, one week after the Model Y Long Range leapt 20% in price and the Model 3 Long Range rose 10.6%. The company increased prices for the most affordable versions of Model 3 and Model Y about a dozen times last year. Tesla’s Musk cited massive price hikes “for raw materials and logistics,” including nickel, lithium, palladium, and platinum.
Tesla’s most affordable vehicle, the Model 3, now starts at $48,440 in the U.S., including destination and order fees, up 21.2% from $38,190 in February 2021.
Also in March, EV startup Rivian increased its R1T pickup’s price 18% to $79,500, while the company’s R1S SUV jumped 21% to $84,500. But unlike Tesla, Rivian introduced lower-priced models that used two motors rather than four, and fewer standard features. This lowered the R1T’s starting price to $67,500, and the RTS to $72,500.
In May, Lucid boosted prices of its Lucid Air sedan by as much as 12%. The Lucid Air starts at $87,500, up from $77,400. The Lucid Air Touring begins at $107,400, up from $95,000, and the Lucid Air Grand Touring fetches $154,000, up from $139,000, and a 9.7% jump.
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October 06, 2022 at 04:13AM
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Ford Raises Price of Entry-Level F-150 Lightning - The Detroit Bureau
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