The Ford F-150 Lightning Electrical Truck.
John Tlumacki | Boston Globe | Getty Pictures
DETROIT — Ford Motor is rising the value of some 2024 F-150 Lightning fashions, whereas reducing the prices of its costliest fashions.
The Detroit automaker confirmed Wednesday that new beginning costs for the pickup will vary from $54,995 for an entry-level Professional mannequin to $92,995 for a Platinum Black trim. The fashions beforehand began at between $49,995 and $97,995 for the 2023 mannequin.
The costs of the Platinum and Platinum Black fashions, with extra applied sciences and luxurious facilities, have been lowered by $5,000 and $7,000, respectively.
The worth changes come as electrical car firms try to stability slower-than-expected client demand with income. Ford has modified pricing on the Lightning in addition to the all-electric Mustang Mach-E a number of occasions primarily based on client demand and uncooked materials prices.
Ford final month confirmed it might reduce deliberate manufacturing of the F-150 Lightning roughly in half this 12 months, marking a significant reversal after the automaker considerably elevated plant capability for the EV in 2023.
“The F-150 Lightning is America’s best-selling electric pickup after a record fourth quarter, and demand continues to grow,” a Ford spokesperson mentioned. “We are making adjustments to pricing, production and trim packages to achieve the optimal mix of sales growth, profitability and customer access to the IRA tax benefit.”
The worth modifications exclude a compulsory $2,095 vacation spot payment in addition to any federal or native incentives for buying an all-electric car.
The F-150 Lightning is one in all a restricted variety of automobiles that may preserve a $7,500 federal tax credit score in accordance with extra stringent necessities for meeting and supplies for the automobiles and their batteries that took impact Jan. 1.
Gross sales of the F-150 Lightning have steadily elevated in 2023, notching a month-to-month document of roughly 4,400 bought in November. The corporate has solely bought 20,365 of the vans this 12 months via November, up 54% from a 12 months earlier.
Ford is predicted to report its December and year-end U.S. gross sales Thursday.
Do not miss these tales from CNBC PRO: