Ford will improve the worth of its all-electric F-150 Lightning truck by as a lot as $8,500 for the 2023 model 12 months, the automaker introduced on Tuesday. The worth hike impacts all trim ranges by at the least $6,000 in comparison with equally outfitted 2022 fashions. Consequently, the bottom worth of the Lightning Professional work truck, essentially the most reasonably priced model, rises from $41,769 to $48,769 together with vacation spot charges.
Which variations of the F-150 Lightning are affected?
Ford is elevating the worth of each Lightning model, starting with the Professional and persevering with with the standard-range XLT ($61,269), XLT Excessive ($70,269) and Lariat ($76,269). Ford says the 2023 variations of those vehicles ought to carry an EPA-estimated vary of round 240 miles, in comparison with the 230-mile EPA estimate from final 12 months.
The worth of extended-range variants additionally will increase, affecting the XLT Excessive ($82,769), Lariat ($87,769) and Platinum ($98,669) trims. Estimated vary for these fashions ought to keep the identical, at 320 miles.
Although the F-150 Lightning is fairly dear, it is nonetheless a cut price in comparison with different electrical pickups. For instance, the Rivian R1T — our Edmunds Prime Rated Editors’ Alternative Award winner for 2022 — is priced from $79,500 after a worth improve of its personal earlier this 12 months. And the GMC Hummer EV provides a brand new lower-priced trim this fall, however it nonetheless begins above $100,000.
Why is the worth of the F-150 Lightning growing?
Ford pointed to “important materials value will increase and different components” as the explanation for the worth hikes. Different automakers have just lately raised costs for their very own electrical autos primarily based on the identical rationale.
Earlier this summer season Tesla introduced worth will increase throughout its model vary of up to $6,000 per automobile. In the meantime, Common Motors raised the worth of its GMC Hummer EV by $6,250 shifting ahead. And the F-150 Lightning is not the one Ford model to really feel the sting — all year long, Ford has closed order books for plenty of its most well-liked autos because it navigates provide shortages.
The F-150 Lightning felt like a steal in the low $40,000s. Now, at practically $50,000 for a bare-bones work truck and $100,000 for prime trims, it is much less interesting. The worth vary remains to be extra attainable than the Rivian R1T or GMC Hummer EV, however we’re keen to place a Lightning by our testing course of to find out its true real-world worth.