From NBC Universal:

Ford Motor is adjusting the pricing of its 2024 F-150 Lightning models, with the base model now starting at $54,995 and the most expensive model at $92,995. The Platinum and Platinum Black models will see a price drop of $5,000 and $7,000, respectively. Ford has also cut planned production of the F-150 Lightning in half.

The price adjustments come as EV companies try to balance slower consumer demand with profits. Ford has amended pricing on the Lightning and all-electric Mustang Mach-E based on consumer demand and raw material costs. The F-150 Lightning is maintaining a $7,500 federal tax credit and sales have steadily increased in 2023, with a monthly record of about 4,400 sold in November, totaling 20,365 for the year through November, up 54% from a year earlier.

The price changes exclude a mandatory $2,095 destination fee and any federal or local incentives for purchasing an all-electric vehicle. The F-150 Lightning is expected to see continued growth in demand, with Ford making adjustments to pricing, production, and trim packages to achieve the optimal mix of sales growth, profitability, and customer access to the IRA tax benefit. Ford is expected to report its December and year-end U.S. sales on Thursday.



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