Ford increases prices on most 2024 F-150 Lightning pickup trucks

Ford Motor Co. is raising the pricing on most versions of its 2024 F-150 Lightning all-electric pickup truck, saying it wants to compress the cost difference between trims and simplify the lineup.

The increases in the manufacturer's suggested retail price range from $2,000 to $7,000 above previously announced 2024 prices and up to $10,000 above 2023 models. The Pro model, for instance, the lowest-price trim, now starts at $54,995 instead of $49,995.

Platinum models, however, are seeing an up-to $7,000 price cut, though they remain disqualified from the Inflation Reduction Act's $7,500 federal EV tax incentive because they cost more than $80,000. The top-of-the-line Platinum Black model's price falls $5,000 to $92,995.

The lineup also eliminates the extended-range XLT 312A option and the standard range Lariat model. That leaves the XLT 311A with 240 miles and the Lariat with 320 miles, according to the U.S. Environmental Protection Agency's estimates. The simplified lineup more closely parallels the lineup of the gas-powered trucks that buyers are familiar with, spokesman Marty Günsberg said.

The adjustments come as Ford responds to slowing EV sales growth by adjusting its electric-vehicle production and expectations. Consumers remain hesitant to adopt EVs widely because of affordability, public charging infrastructure, charging speeds and grid reliability.

"The F-150 Lightning is America's best-selling electric pickup after a record fourth quarter, and demand continues to grow," Günsberg said in a statement. "We are 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."

The 2024 models aren't available on dealer lots. Customers can go to a Ford dealer to order one, though they are not available on Ford.com yet. More information will come in February.

All the trucks now will include the $1,395 tow technology package. The additional destination and delivery fee also has increase $100 to $2,095.

Pricing remains unchanged for 2023 Lightning models.

The automaker also has updated incentives on its 2023 Mustang Mach-Es with a $7,500 Red Carpet Lease Cash program when leased through Ford Credit. This is in addition to the $7,500 federal subsidy available when leasing the Mach-E, though the vehicle this year is no longer eligible for the benefit when bought.

2024 F-150 Lightning pricing

• Pro (240-mile range): $54,995, up from $49,995
• XLT 311A (240-mile range): $64,995, up from $57,495
• Lariat (320-mile range): $79,495, up from $77,495
• Platinum (300-mile range): $84,995, down from $89,995
• Platinum Black (300-mile range): $92,995, down from $97,995

bnoble@detroitnews.com

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