Ford has confirmed price cuts to the F-150 Lightning battery-powered pickup, joining automakers such as Tesla in efforts to improve electric vehicle affordability.
On April 11, a leaked dealership memo indicated that the brand was adjusting prices for nearly all 2024 Lightning trim levels, ranging from $2,000 off the XLT 311 A to $5,500 off the Flash edition. Ford has now confirmed the memo through spokesperson Marty Gunsberg, who added that the model will return in late April. Last year’s electric pickups are unaffected by the change.
Ford has also implemented other incentives for its electrified lineup, such as its Tesla Competitive Conquest Bonus Cash offer, which gives Tesla owners up to $1,500 to switch to Ford’s Mach-E battery-powered SUV. Speaking to the Detroit Free Press, Gunsberg said this offer was also available to Lightning buyers.
These moves mark the latest in a string of price adjustments focused on electric vehicles, which have struggled to maintain their sales pace due to obstacles such as low affordability and inadequate charging infrastructure. While Tesla has gone much further than its competitors in this area, being the most responsible for a 32% price decline average in the EV market since last March, more brands, such as Ford, are starting to follow suit. However, with electrified sales appearing to slow outside of the used market, it is unclear, at least for now, what effect these efforts have had on consumer demand.
