The prices of certain versions of the 2024 Ford F-150 Lightning electric pickup truck are on the rise, while others are decreasing, revealed Ford on Tuesday, in a recalibration of the electric truck’s costs as the automaker prepares to cut production.
The basic Pro version, primarily targeted at fleet buyers, will now start at $57,090, including the $2,095 destination fee, up from the previous $52,090. This brings the entry price down from its peak in March 2023 of $61,869 (or nearly 50% higher than the original price quoted by Ford during the Lightning’s unveiling), but still considerable. Ford began reducing Lightning prices in late 2023, but that trend seems to have been short-lived.
Meanwhile, the XLT with the standard range battery pack is reportedly seeing a price increase of $10,000, or a $7,500 hike compared to Ford’s previously released 2024 price, now at $67,090. Ford is also said to be eliminating the extended-range battery option for the XLT, as well as the standard range battery for the Lariat trim. This raises the starting price for the Lightning with the larger pack and a 320-mile range to the Flash version at $75,590. The extended-range Lariat gets a $2,000 price increase, bringing its starting price to $81,590.
Ford announced the 2024 F-150 Lightning Flash model in October 2023, adding a heat pump and placing it between the XLT and Lariat.
On the other hand, Ford is cutting prices for the high-end versions of the Lightning. The Platinum drops $5,000 from what Ford had already announced for 2024, now at $87,090, as does the Platinum Black, priced at $95,090.
“We are making adjustments to prices, production, and equipment packages to achieve the optimal combination of sales growth, profitability, and customer access to the IRA tax benefit,” explained Ford spokesperson Marty Günsberg.
Ford notes that these changes do not apply to existing 2023 F-150 Lightning models, which are still available at dealerships.
The latest round of price changes comes amid planned production cuts. Last October, Ford announced it had chosen to reduce F-150 Lightning EV production instead of lowering the price. At that time, Ford reportedly informed suppliers to anticipate production volumes of 1,600 Lightnings per week in 2024, down from its previous target of 3,200 per week.
This followed a move earlier in the summer when Ford scaled back its electric vehicle targets for 2023, focusing on cost. The automaker had previously discussed achieving an annual production of 600,000 electric vehicles by sometime in 2023 but is now aiming to reach that volume this year.
Ford’s scaled-back electric vehicle goals also included a smaller version of the LFP battery factory in Michigan, which it had touted as a key to affordable electric vehicles, including upcoming Lightning models.
