Ford F-150 Lightning EV worth changes

DETROIT — Ford Motor is rising the value of some 2024 F-150 Lightning fashions, whereas decreasing 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 value changes come as electrical automobile firms try and stability slower-than-expected shopper demand with earnings. Ford has modified pricing on the Lightning in addition to the all-electric Mustang Mach-E a number of occasions primarily based on shopper demand and uncooked materials prices.

Ford final month confirmed it would cut planned production of the F-150 Lightning roughly in half this yr, marking a serious 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 value adjustments exclude a compulsory $2,095 vacation spot charge in addition to any federal or native incentives for buying an all-electric automobile.

The F-150 Lightning is one among 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 offered in November. The corporate has solely offered 20,365 of the vehicles this yr by way of November, up 54% from a yr earlier.

Ford is predicted to report its December and year-end U.S. gross sales Thursday.

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