Ford CEO Jim Farley already staked his company’s future on the success of the all-electric F-150 Lightning. Per CNBC, the vehicle generated so much excitement that Ford was forced to cap preorders at 200,000 in January, five months before the first Lightning rolled off an assembly line. So far, Ford has only delivered about 4,400 actual trucks. More are coming, and Ford will reopen the books for new orders later this week; however, those who are late to the game will face significantly higher prices. Citing inflation and supply issues, Ford announced Tuesday that it’s raising MSRPs on all Lightnings between $6,500 and $8,500 depending on the model.
There’s no telling how long customers will have to wait for their trucks, but according to the Verge, the company intends to honor its original MSRP on existing orders. "Current order holders awaiting delivery are not impacted by these price adjustments," per a statement from Ford’s EV division. "We’ve announced pricing ahead of re-opening order banks so our reservation holders can make an informed decision." That decision now involves $46,974 instead of $39,974 for a basic Lightning Pro, or $96,874 for a top-shelf Platinum.
As the New York Times reports, Ford is the latest EV company to announce price hikes. Tesla, GM, and startups Rivian Automotive and Lucid have done the same, all citing supply issues around computer chips and battery materials. Congress recently offered a new EV tax credit in the Inflation Reduction Act, but the Lightning may not qualify. The bill requires a certain percentage of the battery to be made in North America, but Ford currently sources its batteries from overseas. (More Ford Motor Co. stories.)
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