(CTN News) – As of now, Ford F-150 Lightning is a bit less expensive than it used to be. There have been significant price reductions announced by the automaker today for its electric pickup, citing improved manufacturing efficiency as the reason for the price reductions.
Every trim level of the Lightning was affected by the price cuts. Pro work trucks that are priced at $49,995 are now available in the market, down from $59,974.
The XLT trims of the car received similar treatment, with their price cuts ranging from $9,479 to $8,479.
This is the most affordable trim level of the vehicle, the Platinum Extended Range package, which saw a price reduction of $6,079, bringing the price down from $98,074 to $91,995.
According to Ford, the price cut was due to several factors.
Ford and its customers experienced a rise in costs following the introduction of the F-150 Lightning as a result of rapidly increasing material costs, supply constraints, and other factors”, explained Marin Gjaja, Chief Customer Officer for Ford Model E.
We have continued to work in the background to make sure that access and affordability are improved so that customers can get their new F-150 Lightning at a lower price and with shorter wait times.
In order to implement upgrades to the Rouge Electric Vehicle Center in Michigan, the facility is temporarily closed. Upon completion of the project, Ford says it will have the capacity to produce a total of 150,000 F-150 Lightnings a year, which is a three-fold increase over the current level of production.
It is no secret that full-size trucks have long been a key revenue generator for automakers and that the EV pickup wars are about to heat up.
GM and Chevrolet are bracing themselves for the release of their fantastic and expensive EV Silverado (read my early test drive report here), and Stellantis is inching closer to the release of an electric version of the RAM pickup.
Tesla just announced that it had manufactured the first Cybertruck on its production line and Rivian is also slowly rolling out its electric pick-up truck on a limited basis.