Ford Motor Company has raised the entry-level price of the F-150 Lightning by another $5,000, the second price increase for the vehicle in the last two months. The company previously raised prices between $6,000 and $8,500.
When Ford announced the original starting price of around $40,000 for the F-150 Lightning, the company was praised for offering one of the most affordable EVs on the market. Investors were especially impressed with the idea.
But the current economic environment has not been kind to vehicle manufacturers this year, including Ford. In a statement, the company said the price increase was due to “ongoing supply chain constraints, rising material costs, and other market factors,” adding that the company will “continue to monitor pricing across the model year.”
The automakers added that the price increase would not affect current retail order holders, commercial and government customers with a scheduled order.
Starting prices for the 2023 F-150 Lightning will now be between about $52,000 and $97,000, depending on the model. That’s a considerable increase from roughly $40,000 to $92,000 for the 2022 model year.
The 2023 Lightning Pro, an entry-level model, meant for commercial and business use, will have a starting price of $51,974. That’s an 11% increase from the previous price and represents a 30% increase from the original price of $39,974 in May 2021.
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