What’s Happening
Ford is leveraging enhanced plant capacity and the resultant economies of scale to lower the Manufacturer’s Suggested Retail Price (MSRP) of its F-150 Lightning® for all customers. The Rouge Electric Vehicle Center is currently closed to finalize upgrades aimed at tripling the plant’s annual production capacity to approximately 150,000 F-150 Lightning trucks starting this fall.
Why It Matters
The modifications at the Michigan plant, along with reductions in battery raw material costs and continuous work on scaling production, make it feasible to reduce prices across the F-150 Lightning line. This signifies that customers can expect greater availability of their customized truck as early as October at a price more aligned with initial Lightning pricing. Marin Gjaja, the Chief Customer Officer at Ford Model e, noted that despite material cost increases and supply constraints which initially drove up EV truck prices, Ford has remained committed to enhancing accessibility and affordability for their customers.
Key Points
From July 6th to 31st, Ford has opened orders to all customers, providing a $1,000 bonus to retail customers who choose to build their own XLT, Lariat, or Platinum truck via a dealership or through Ford’s website. This promotion is part of a national summer sales event. Concurrently, Ford Credit is offering qualified buyers an enticing interest rate of as low as 1.9 percent APR for a 36-month period.
The 2023 MotorTrend Truck of the Year, the F-150 Lightning, is also eligible for up to $7,500 in potential Inflation Reduction Act consumer and commercial electric vehicle tax credits, presenting an even more attractive proposition for eligible customers considering an electric pickup truck.
Bottom Line
Commencing early next year, all F-150 Lightning customers will gain access to over 12,000 Tesla Superchargers spread across the U.S. and Canada. Commercial customers will also benefit from Ford Pro Charging solutions, allowing them to charge their F-150 Lightning at home or onsite at work. This development solidifies Ford’s commitment to creating an affordable and practical electric vehicle landscape for the benefit of its customers.
