Ford Drops Price of the Lightning Electric Pickup Truck

• Ford has lowered the price of the F-150 Lightning by thousands of dollars.
• The savings apply to all trim levels, though the biggest price drop is for the entry-level Pro model.
• A 2023 Ford F-150 Lightning Pro now starts at $51,990, including destination fee.
• Ford credits cheaper raw materials and increased production as key contributors to this price drop.

To start, the automaker says scaling up of production at its Rouge Electric Vehicle manufacturing center in Dearborn, Michigan, is helping to churn out more trucks to meet demand. The company intends on expanding production threefold later this year, up to an annual total of 150,000 Lightnings. Cheaper raw materials, including those used directly in the truck's sizable battery packs, are also helping make this EV cheaper to build and, as a consequence, cheaper to sell.

And let's not forget with the greater availability of microchips used in all sorts of vehicles, both gas and electric, the average price of a new car ticked (slightly) downward from a peak of more than $47,000 earlier this year. Recent price increases were even more acute in the markets for full-size trucks and large SUVs, where transactions of more than $60,000 accounted for the majority of sales.

“Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the EV truck for Ford and our customers,” stated Marin Gjaja, chief customer officer, Ford Model e, in the company's news release. “We’ve continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning.”

In its pricing announcement, Ford also mentioned a $1,000 bonus for Lightning shoppers who build a Lariat, XLT or Platinum model online or at a dealership between July 6 and 31. And in terms of keeping your Lightning rolling down the road, Ford also took this opportunity to provide a gentle reminder that, beginning early next year, its electric pickup can be charged at Tesla's nationwide Supercharger network.

While these lower prices are good news for EV shoppers, let's not forget the numerous price hikes that followed after the Lightning launched for the 2022 model year. The base Pro trim was initially meant to have an asking price of around $40,000, though this ballooned to around $60,000 at one point. So, yes, the price reduction is important, though the Lightning is still not quite the bargain it was originally meant to be.

Here is the full lineup of 2023 F-150 Lightning trims and their respective before and after prices (with $1,995 destination charge factored in):

• F-150 Lightning Pro
  Previous MSRP: $61,969
  New MSRP: $51,990
• F-150 Lightning XLT
  Previous MSRP: $66,469
  New MSRP: $56,990
• F-150 Lightning XLT Extended Range
  Previous MSRP: $80,869
  New MSRP: $71,990
• F-150 Lightning Lariat
  Previous MSRP: $78,969
  New MSRP: $71,990
• F-150 Lightning Lariat Extended Range
  Previous MSRP: $87,969
  New MSRP: $79,490
• F-150 Lightning Platinum Extended Range
  Previous MSRP: $100,069
  New MSRP: $93,990

Edmunds says

In an era where the price of everything from EVs to a dozen eggs swings wildly, it's a pleasant relief to see Ford significantly lower the cost of its electric pickup truck. That said, even the more affordable base Pro trim remains far from the once-promised starting MSRP of around $40,000.