Ford has adjusted prices on the upcoming 2024 F-150 Lightning battery-powered pickups in response to shifting demand in the electric vehicle segment.
The move comes just weeks after the Detroit automaker adjusted production targets for the vehicle, citing slower-than-expected sales. Moving forward, select trims of the 2024 F-150 Lightning will cost $2,000 to $10,000 more than in 2023, while the Platinum and Platinum Black editions will be $5,000 cheaper. In adjusting price tags for the model, the company also removed the Lariat and XLT 312 trims to improve the cost-effectiveness of its manufacturing operations.
Similar to its internal combustion engine counterpart, the F-150 Lightning remains the best-selling electric pickup in the U.S. after beating out Rivian’s R1T in 2023. The vehicle will soon face additional competition from the Tesla Cybertruck when it becomes available for purchase. Despite newly implemented revisions to the Biden Administration’s electric vehicles tax credit policies, which saw multiple models lose their eligibility for incentives, Ford’s battery-powered truck still qualifies for up to $7,500 in government rebates, although certain trims are excluded.
In December, the automaker cut its weekly F-150 Lightning production goal by 50% from its original 3,200 units. Starting this month, factories are now making only 1,600 units. Ford attributed the decision to the slower-than-expected pace of electric vehicle adoption, although the move arrived during an industry-wide sales slowdown. Aside from Tesla, no U.S. car manufacturer has managed to turn a profit on their electric vehicle lineup, as unaffordable prices, driving ranges, and lack of readily available charging continue to bottleneck demand across North America.
