EV Pickup Wars Mean That F-150 Lightning Prices Likely To Fall Again

Pricing War?

When the Ford F-150 Lightning launched for the 2022 model year, one of its biggest selling points was a starting price of just a touch under $40k for the work-oriented Pro model. Consumers seeking out an EV pickup were no doubt intrigued by that model's supreme value, though unfortunately for them, it didn't quite pan out the way they had hoped, as huge demand and soaring raw materials costs led to a number of price increases over the past year-plus. Now, however, it seems as if the much-anticipated EV price war has finally arrived.

Photos: Ford

Deep Cuts

Ford recently slashed the prices of the entire F-150 Lightning lineup, with the Pro dropping $9,979 - taking its MSRP from $59,974 to $49,995. Even the range-topping Platinum received a $6,079 price drop, taking it from $98,074 down to $91,995. According to Ford, these changes were made in response to increased plant capacity, its continued work on scaling production and costs, and improving battery raw material costs.

Photos: Ford

On Its Way

This was obviously expected to happen, though it did ultimately come following multiple rounds of increases, rather than continuous cuts, thanks largely to the aforementioned rise in costs. However, with raw materials getting cheaper and easier to obtain, the F-150 Lightning is well on its way to becoming a proper value once again - particularly when we consider other factors.

Photos: Ford

Increased Competition

Those factors, of course, are not only supply and demand but also the competitive environment. The F-150 Lightning was one of the first EV pickups to market - save for the pricer, lower-volume GMC Hummer EV and Rivian R1T. Now, however, competitors like the Chevy Silverado EV and Tesla Cybertruck are on the verge of joining this fray as well.

Photos: Ford

Not Immune

Previously expected to start out at $42k, the Silverado EV, in particular, has faced some of the same struggles as the F-150 Lightning prior to its launch. GM recently increased the price of its EV pickup by around $10k, in fact, which means that the two cross-town competitors are pretty close in terms of pricing - for now.

Photos: Ford

Shrouded in Mystery

The same could also be true of the Cybertruck, which debuted way back in 2019 but has yet to actually come to fruition. Tesla just built its very first example of the long-awaited model, which was originally supposed to start out at less than $40k as well. However, Tesla removed pricing from its Cybertruck site some time ago, leaving that information shrouded in mystery for a bit longer.

Photos: Ford

Patience Pays Off

All of this means essentially one thing - the F-150 Lightning will likely get more price drops in the future, especially once it faces stiffer competition. This is the nature of the market, and should come as a surprise to exactly no one that has some semblance of how the business works. However, it's also important to remember for those that feel inclined to rush out and buy one. As we've seen recently with other Tesla models, early adopters are likely to wind up paying more for that privilege, while those that have remained patient are likely to be rewarded.

Photos: Ford

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