Ford staff produce the electrical F-150 Lightning pickup on Dec. 13, 2022 on the automaker’s Ford Rouge Electrical Automobile Heart (REVC).
Michael Wayland | CNBC
DETROIT – Ford Motor has as soon as once more elevated the beginning worth of its electrical F-150 Lightning, citing larger uncooked materials prices for the pickup truck.
The brand new worth of the F-150 Lightning Professional, an entry-level mannequin meant for business and enterprise prospects, shall be $55,974 — up almost 8%, or $4,000, from earlier pricing and a 40% improve from the original pricing of $39,974 introduced in Could 2021.
A Ford spokeswoman in an emailed assertion Friday stated the corporate adjusts car pricing “as a traditional course of enterprise because of rising materials prices, market components, and ongoing provide chain constraints.”
Ford initially made waves when it introduced the beginning worth for the Lightning would be about $40,000, making it extra reasonably priced than many EVs available on the market. Wall Avenue praised the car, and it was a serious enhance for the corporate at the moment.
However essential uncooked materials prices corresponding to cobalt, nickel and lithium have substantially increased amid rising demand and provide chain issues.
The newest pricing improve – a minimum of the third this year – comes as Ford makes an attempt to increase manufacturing of the electrical pickup to 150,000 models by subsequent fall. The corporate earlier this week stated it stays on observe to take action, because it not too long ago added a third shift of workers to a Michigan plant producing the car.
“Demand for this breakthrough car is robust and continues to develop, we’ll proceed to observe pricing by way of the mannequin yr,” the spokeswoman stated within the emailed assertion.
Via the tip of November, Ford had solely bought 13,258 F-150 Lightnings.
