Nearly nine months after Ford stopped taking reservations, Ford is ready to reopen the order banks for the F-150 Lightning. But buyers beware: The price for the electric truck has increased by about $7,000 across all trim levels.
Ford cites “significant increases in material costs and other factors” as the primary reason for raising the price. Indeed, the F-150 Lightning is just the latest electric vehicle whose price has risen due to supply chain constraints, inflation, and increased demand for batteries and other components.
Ford said it will honor the original manufacturer’s suggested retail price (MSRP) for all current reservation holders. But anyone who deposits the $100 deposit as of Thursday, when reservations reopen, will have to pay the newly adjusted price.
“Current order holders awaiting delivery are not affected by these price adjustments,” Marin Gjaja, chief customer officer, Model E, said in a statement. “We have announced pricing ahead of the reopening of order banks so that our reservation holders can make an informed decision about ordering a Lightning.”
Here is an overview of the new prices:
Pro old price: $39,974; new price: $46,974
XLT old price: $52,974; new price: $59,474
XLT High Old Price $62,474 (est.); new price: $68,474
XLT High/Extended Range old price: $73,974; new price: $80,974
Lariat old price: $67,074; new price: $74,474
Lariat Extended Range old price: $77,074; new price: $85,974
Platinum Extended Range old price: $92,669; new price: $96,874
Price increases suck, but Ford is trying to sweeten the pot by offering a few new features and a range boost. The automaker said it has increased the EPA-estimated range of its standard battery by 10 miles for a total of 250 miles. It also adds its Pro Trailer Hitch Assist technology, which will hook up a trailer for you almost automatically, as an added bonus.
And if you think the $7,500 federal EV tax credit could help some of the sting out of these price increases, think again. Under the deal struck by the Senate Democrats, the Ford F-150 Lightning would not qualify for the tax credit until at least 40 percent of its components — including the battery — are made in North America or by a U.S. trading partner.
Ford currently sources its batteries from CATL, a Chinese battery manufacturer – although it hopes to eventually build the battery packs in Georgia at a new facility it is building in partnership with South Korean SK Innovation.