Second Round Price Hike for F-150 Lightning Pro

Base Note

Citing higher material costs and supply-chain issues, Ford has yet again bumped up the price of the F-150 Lightning. It is the second price hike for the all-electric truck since it rolled out in April 2021. Yet, Broadcast & Consumer Communications Manager Dan Barbossa was quick to point out that the latest price adjustment applies solely to the base model Lightning Pro.

Promoted Tag

Ford first issued a price increase for the entire Lightning lineup in August of 2022. The second was announced in early October, aimed only the Pro. As of late fall 2022, the entry-level Lightning MSRP currently sits at $51,974. The money-move is a marked change to the sub-$40,000 starting price tag that was originally promoted by Ford executives.

Raw Times

New vehicle price hikes are not unique to the Motor Company. Automakers across the board are experiencing production cost woes, but especially in the EV range. Notably, Tesla has raised prices multiple times, in some cases adding thousands to its flagship models. CEO Elon Musk pointed to spiraling inflation, the rising cost of raw materials, and chip shortages as the primary factors.

Pay Relationship

While recent price hikes are hitting current F-150 Lightning buyers in the pocketbook, the issue is actually centuries-old. First identified by seventeenth-century philosopher John Locke, the cost increases are in step with the classic economic principle of supply and demand—defined by the relationship between the price of a product and a consumer's willingness to pay.

Market Producer

Production costs aside, the Lightning's price jump can be directly attributed to its almost immediate popularity and adoption. Across the board, Ford's EV sales have tripled in the last couple of years. As per a September 2022 press release, the Motor Company sits in second place as America’s preferred EV producer and tops all other electric pickup trucks on the market.

Translated Books

Ford experienced 44,500 reservations in less than forty-eight hours after the Lightning's launch and almost 200,000 by the end of 2021. While reservations measure interest, it has also translated into sales. Even before the Lightning managed to get to the nation's showrooms, Ford was forced to close the books on the work-oriented Pro and the notch-up XLT in early Spring 2022.

System Waves

As of Fall 2022, Ford has stopped all Lightning reservations, including the top-shelf Platinum model. On a detailed FAQ webpage, the Motor Company outlined its Lightning 'Reservation Closure,' along with the upcoming process for ordering the 2023 Lightning. The newly proposed system will now invite reservation holders to place orders in waves so production can keep pace with demand.

Demand Round

While organized, the new system has left some international buyers caught out due to varying price protection laws. Both Ford and Ford Canada have indicated that they will honor pre-hike pricing for existing 2022 orders. With demand now extending into 2023, the Lightning's MSRP is bound to be affected. This second round of increases will certainly not be the last.

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