Ford just raised the price of its electric F-150 by up to $8,500
CNN/Stylemagazine.com Newswire | 8/9/2022, 4:39 p.m.
On August 11, Ford will once again begin taking orders for its popular F-150 Lightning electric pickup truck, pictured here in Dearborn, Michigan, in May 2021. But this time the base model of the pickup will cost about $7,000 more than before.
Mandatory Credit: Jeff Kowalsky/AFP/Getty Images
Originally Published: 09 AUG 22 16:49 ET
By Peter Valdes-Dapena, CNN Business
(CNN) -- Ford on Thursday will once again begin taking orders for its popular F-150 Lightning electric pickup truck. But this time the base model of the pickup will cost about $7,000 more than before.
When the Lightning first went on sale, the Pro version -- the base model intended mostly as a simple work truck -- cost about $40,000. Now it will cost about $47,000. More expensive versions of the truck have similar price increases, up to $8,500 for highly equipped extended range models. The Lightning is currently eligible for the $7,500 federal EV tax credit. (With electric vehicle tax credit rules set to change under new legislation, it's unclear if the truck will continue to be eligible in the future.)
The change is due to "significant material cost increases and other factors," according to a Ford announcement. Ford had stopped taking retail orders at the end of last year as customer demand threatened to outstrip the automaker's production capacity.
There are some small improvements to the truck, though. The EPA-estimated range for the base model truck has been increased from 230 miles to 240 miles, for instance. The Special Vehicle Service Package, which includes things like "police grade" heavy duty cloth seats, is now available for fleet buyers on the base Pro model.
Ford is also adding a new feature, called Pro Trailer Hitch Assist, which automatically steers the truck to make hooking it up to a trailer easier, according to Ford. It will be available on even base versions, Ford said, as part of a $1,400 to $2,000 (depending on the specific truck model) Tow Technology Package.
Ford isn't alone in raising prices, particularly for electric vehicles. General Motors recently increased the price of the GMC Hummer EV by $6,250.
Customers who already have an order for a truck won't have to pay the new, higher price, according to Ford. Reservation holders who had not yet been invited to place a firm order may have to pay the increased price, though.
