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2024 Ford F-150 Lightning Receives Price Reduction Of Up To $5,500

Image Source: Mike Mareen / Shutterstock

Ford has made modifications to some of the cost adjustments on the 2024 Ford F-150 Lightning electric pickup truck that were first revealed earlier this year. According to a dealer bulletin initially disclosed by CarsDirect, certain F-150 Lightning models are now being offered with price cuts of up to $5,500.

The base Pro model with the Standard Range 98-kwh battery pack remains at the same price as the initial increase, priced at $57,090, inclusive of a $2,095 destination fee. The price reductions begin with the XLT variant, now priced $2,000 lower at $65,090.

The latest Lightning Flash edition offers the most affordable option to access the Extended Range 131-kwh battery pack, and is now more accessible following a $5,500 price cut, amounting to $70,090.

The Lariat model has seen a price decrease of $2,500 to $79,090, while the top-of-the-line Platinum edition remains unchanged at $87,090.

Although pricing details for the 2024 Ford F-150 Lightning have not yet been updated on Ford’s official website, the price reductions mirror recent adjustments made to Ford’s other electric vehicle, the Ford Mustang Mach-E.

While the demand for electric vehicles has slightly decreased, it is still on the rise, with a 3.3% increase in sales during the first quarter of 2024. Concurrently, total new car sales saw a growth of 5.1% during the same period, according to the Associated Press.

The overall vehicle supply has now normalized to pre-pandemic levels, and Ford is facing new challenges in the electric truck market with competitors like the Tesla Cybertruck, Chevy Silverado EV, and the updated Rivian R1T.

Fluctuating prices on electric vehicles have become commonplace as automakers react to market demand and supply dynamics. The initial price cuts of around $3,000 made for the remaining 2023 Mustang Mach-E models have continued into the 2024 lineup, while Tesla has recently made further reductions in the pricing of its Model Y, amidst increasing competition in the electric vehicle market.

Similar to Tesla, Ford’s pricing strategy for the F-150 Lightning has been unpredictable, with the base price reaching almost $62,000 in March 2023. Following several subsequent price reductions, Ford then raised the prices again at the beginning of 2024, only to now reduce them once again. Therefore, if you are keen on the current pricing, it may or may not persist for long.

Image Source: Mike Mareen / Shutterstock

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