Saturday, July 13, 2024

Ford raises F-150 Lightning price for second time in less two months

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Ford Motor announced an 11 percent price increase for the F-150 Lightning Pro electric truck model. Quoted from Reuters, Thursday (6/10/2022) this was done by the company to overcome supply chain barriers and suppress high inflation.

“The new price for the F-150 Lightning Pro electric truck has been set at $51,974, from the previous $46,974 due to ongoing supply chain constraints, rising manufacturing costs and other market factors,” a Ford spokesperson said.

Ford is following in the footsteps of Tesla and Rivian, who have also raised prices for their vehicles this year.

In August, Ford raised prices on its F-150 Lightning lineup for the first time since it was announced last year, ranging from $6,000 to $8,500 depending on the variant.

The Pro model, which is the cheapest variant, is priced almost 18 percent more than before, amid soaring costs for raw materials such as lithium used in EV batteries.

Meanwhile, a Ford spokesman said that customers who had scheduled their orders, including commercial and government customers, would not be affected by the latest price increase.

On Tuesday (4/10/2022), Ford reported strong demand for new vehicles in the United States and said retail orders were growing rapidly. However, it also warned that supply issues would continue to weigh on sales.

Ford sells 4,691 electric vehicles in September, up 197.3% year-on-year

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