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Ford reopens F-150 Lightning order bank, raises prices

Jordyn Grzelewski, The Detroit News on

Published in Automotive News

Ford Motor Co. on Thursday will reopen order banks for the next round of reservation holders of the all-electric F-150 Lightning — and customers will see both improvements in range and a higher price for model year 2023.

Citing "significant material cost increases and other factors," the Dearborn automaker said it would increase the manufacturer's suggested retail price on the Lightning starting with the opening of this latest wave of orders. The base model of the truck will go up by $7,000, or 17.5%, to just under $47,000.

Ford launched production of the Lightning in April. Even before that, the company said demand for the electric version of America's bestselling truck exceeded initial production capacity. The automaker capped reservations at 200,000 and moved to boost production capacity at the Rouge Electric Vehicle Center in Dearborn to 150,000 units per year by next year.

Faced with rising raw materials prices, EV makers — including Ford and numerous of its rivals — have increased prices on some models.

General Motors Co., for example, boosted the price on its GMC Hummer EV pickup truck and SUV by $6,250 starting June 18. Ford raised the price on its Mustang Mach-E after commodity pressures wiped out profit margins on the electric crossover SUV. Tesla Inc. this year has implemented price increases on some of its models.

To date, the starting price on the Lightning was $39,974, excluding destination fees. The suggested prices announced Wednesday, excluding destination fees, are:

 

— $46,974 for the F-150 Lightning Pro

— $59,474 for the XLT

— $68,474 for the XLT High

— $80,974 for the XLT High/extended range

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