(CTN News) – Ford Motor is making changes to the pricing structure of its 2024 F-150 Lightning models. The starting prices for these popular pickups will now range from $54,995 to $92,995, depending on the trim level.
This represents an increase compared to the previous starting prices for the 2023 models, which ranged from $49,995 to $97,995.
However, Ford has also decided to lower the prices of the Platinum and Platinum Black models by $5,000 and $7,000, respectively.
These adjustments in pricing are being implemented as electric vehicle companies, including Ford, strive to strike the right balance between consumer demand and profitability.
As the market for electric vehicles continues to grow, automakers are constantly evaluating and adjusting their pricing strategies. In addition to consumer demand, Ford is also taking into consideration raw material costs when determining the pricing of its electric vehicles.
Despite the changes in pricing, the F-150 Lightning remains eligible for a $7,500 federal tax credit, which is an attractive incentive for potential buyers.
This tax credit helps to offset the higher starting prices and makes the F-150 Lightning more affordable for consumers. It is worth noting that the sales of the F-150 Lightning have been steadily increasing throughout the year, indicating a strong demand for this all-electric pickup truck.
Ford is expected to release its December and year-end U.S. sales figures on Thursday, which will provide further insights into the performance of the F-150 Lightning and other models.
As the electric vehicle market continues to evolve, automakers like will likely continue to make adjustments to their pricing strategies in order to remain competitive and meet the demands of consumers.