Ford F-150 Lightning prices have taken a nose dive, but is that enough to make you want to buy one?
Deal or No Deal?
As most are well aware, the Ford F-150 Lightning launched for the 2022 model year with much fanfare. The first-ever all-electric F-150 was a red-hot entity for some time, and low inventory prompted not only plenty of dealer markups - but coupled with rising raw materials prices, prompted Ford to raise prices multiple times. Since demand has cooled off, that has changed quickly, however, with The Blue Oval taking some significant price cuts and even offering enticing incentives - but is that enough to make people want to buy an F-150 Lightning?
Photos: Ford
Big Discount
Earlier this month, Ford added some new F-150 Lightning incentives for both lessees and those looking to purchase the new pickup that are its most substantial to date. In most cases, customers can choose between $7,500 in Retail Customer Cash or $7,500 in Red Carpet Lease Customer Cash, though that isn't the case for every trim.
Photos: Ford
Stacking Deals
Rather, the work-focused entry-level Pro doesn't have any discounts attached to it, while the XLT gets $1,500 for both leases and purchases, and the Lariat gets $7,500 for financing, but only $5,000 for leasing. Regardless, as one might imagine, these can be great deals - particularly when combined with the federal $7,500 tax credit, if one is eligible.
Photos: Ford
Sweet Spot
The MSRP cap for the federal tax credit is $80,000, but this means that one can still purchase an F-150 Lightning Lariat and get perhaps the best deal of them all. The Lariat starts out at $69,995, in fact, which means that in the right situation, one could bring home a base version of that luxury trim for a mere $54,995.
Photos: Ford
Notable Numbers
What's particularly notable about this price is the fact that it's less than a gas-powered F-150 Lariat would set you back, as that model starts out at $57,480 for the 2023 model year. For folks complaining that EVs are simply too expensive, this somewhat eliminates that excuse, if one can manage owning an EV over an ICE vehicle given the latter's range and towing limitations, of course.
Photos: Ford
Convincing Enough?
Ultimately, these discounts are designed to do precisely that - convince folks who are on the fence that the F-150 Lightning is now it's an attractive buy at its current pricing, and move more EV pickups of dealer lots following a dip in sales. Whether or not Ford can convince folks that's the case, well, it remains to be seen.
Photos: Ford
Providing a Boost
In any event, we can confidently say that the F-150 Lightning is a much more attractive potential purchase with these steep discounts, as its inflated price tag is what caused many to change their minds about buying one in the first place. However, many of those folks likely moved on and bought something else, so it'll be interesting to see if the F-150 Lightning experiences the boost in sales that Ford is aiming to achieve.
Photos: Ford
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