Ford F-150 Lightning pickup vans are proven on the Ford Rouge Electrical Car Middle on April 26, 2022 in Dearborn, Michigan.
Invoice Pugliano | Getty Photographs
DETROIT – Ford Motor is rising the beginning value of its electrical F-150 Lightning pickup by $5,000 for the 2023 mannequin yr, citing rising prices and provide chain points.
The brand new value of the 2023 Lightning Professional, an entry-level mannequin meant for industrial and enterprise prospects, will likely be $51,974 – up almost 11% from earlier pricing and a 30% enhance from the unique $39,974 value in Could 2021.
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In an emailed assertion, Ford stated it’s adjusting the value “as a result of ongoing provide chain constraints, rising materials prices and different market elements. We are going to proceed to watch pricing throughout the mannequin yr.”
Present retail order holders and industrial and authorities prospects with a scheduled order will likely be unaffected by the value enhance, the corporate stated.
Ford made waves when it introduced the beginning value for the Lightning would be about $40,000, making it extra reasonably priced than many EVs available on the market. Wall Road praised the car and it was a serious increase for the corporate at the moment, as buyers had been concentrating on EV start-ups.
However vital uncooked materials prices resembling cobalt, nickel and lithium have more than doubled throughout the coronavirus pandemic, in line with a report from AlixPartners this summer time.
The fee will increase and different provide chain issues, which Ford estimated would result in $1 billion in unexpected costs throughout the third quarter, have pressured automakers to extend EV costs to retain income.
Lower than two months in the past, Ford introduced value will increase of between $6,000 and $8,500 on the Lightning, relying on the mannequin.
The beginning costs for the 2023 F-150 Lightning will now vary from about $52,000 to $97,000, up from roughly $40,000 to $92,000 for the 2022 mannequin yr. Costs exclude taxes and delivery and supply prices.
