Ford Motor has announced price adjustments for its 2024 F-150 Lightning models.
New starting prices range from $54,995 for the entry-level Pro model to $92,995 for the Platinum Black trim.
Previous model prices were between $49,995 and $97,995 for the 2023 version.
The Platinum and Platinum Black models, offering additional technologies and luxury amenities, have seen price reductions.
The Platinum model's price is lowered by $5,000, and the Platinum Black model by $7,000.
Electric vehicle companies, including Ford, are adjusting prices to balance slower-than-expected consumer demand with profits.
Ford has previously altered pricing for the F-150 Lightning and the all-electric Mustang Mach-E-
based on consumer demand and raw material costs. Ford recently confirmed a significant cut in planned production
of the F-150 Lightning for the current year, following a substantial increase in plant capacity in 2023.
The mentioned price changes exclude a mandatory $2,095 destination fee.
Any federal or local incentives for purchasing an all-electric vehicle are not factored into the adjusted prices.
The F-150 Lightning is among a limited number of vehicles eligible for a $7,500 federal tax credit.
This credit is in accordance with more stringent requirements for assembly and materials for-
vehicles and batteries that took effect on Jan 1. Sales of the F-150 Lightning have steadily increased in 2023, reaching a
monthly record of approximately 4,400 units sold in November. The total sales for the year through-
November stand at 20,365 trucks, marking a 54% increase from the previous year.