Ford Motor has once again raised prices for the third time this year

Ford Motor Company has increased the cost of the F-150 Lightning Pro yet again. On December 16, the company’s markup, which is 9% or $4,745 more than the identical vehicle, was made public on Ford’s website. The base price of the all-electric pickup truck has increased to $55,974, which becomes $58,514 when destination ($1,895) and acquisition ($645) fees are included.

The Lightning Pro rapidly increased from the starting point of $39,974 to $48,769 in August, to $53,768 in October, and to its current price. Ultimately, the base model F-150 Lightning Pro’s MSRP has risen by $16,000 this year alone. The XLT Standard Range trim now costs $63,474, up $4,000 from its previous starting point.

The increase is “part of the normal course of business due to rising material costs”, claims Ford. Tesla, Lucid, and Rivian also announced price hikes for their EVs as the costs of materials like lithium and MRSP are rising too. 

However, Ford claims that a third line will be added to its River Rouge production line, so the price rise won’t put off customers. The Inflation Reduction Act’s tax benefits, according to Ford, may increase the demand for electric commercial cars. Ford stated earlier this year that it had received more than 200,000 orders for the electric vehicle and is aiming for the yearly production of 150,000 F-150 Lightning Pro by the fall of 2023.

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