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Ford Motor Co. alerted its dealers Wednesday to price changes for its all-electric F-150 Lightning.
Prices for 2024 model year trucks increased from $2,000 to $10,000 through 2023, the automaker said. Meanwhile, premium vans get discounts on the price of $5000 to $10,000.
“Demand for the F-150 Lightning continues to grow,” Ford spokesman Marty Gunsberg told the Detroit Free Press. “The electric vehicle remains buoyant and we will continue to make adjustments. “
Prices remain unchanged for the 2023 style year.
Ford expects the value to rise and fall as it narrows the source of vehicles so that consumers can more easily transfer to other models, Gunsberg said.
The last activity is free of two degrees of finishing. Ford CEO Jim Farley has said in recent months that the company wants to make fewer versions of its cars to reduce prices and quality.
Here’s the breakdown of the F-150 Lightning from 2023 to 2024:
Pro (EPA estimate of 240 miles) $49,995 to $54,995
XLT 311 A (EPA estimated 240 miles) $54,995 to $64,995
XLT 312 A (EPA estimated 320 miles) $69,995 to be phased out in 2024
Flash (EPA estimated 320 miles) is a new bid for $73,495
Lariat (EPA estimated 240 miles) of $69,995 to be phased out in 2024
Lariat (EPA estimated 320 miles) $77,495 to $79,495
Platinum (EPA-estimated diversity of three hundred miles) from $91,995 to $84,995
Black Platinum (EPA-estimated diversity of three hundred miles) $97,995 to $92,995
The XLT and Flash models are expected to be the best sellers, Gunsberg said. Platinum trucks are the only ones that qualify for a $7,500 tax credit.
Manufacturer’s Suggested Retail Prices (MSRPs) indexed above include destination and delivery charges, ranging from $1,995 to $2,095.
Read more: Ford F-Series sales dominance is an ‘incredibly tough American symbol’
More: 2024 Ford F-150 revealed: Reimagined hatchback design with refrigerator-style door
Ford hasn’t revealed when the 2024 Lightning will arrive in dealerships. Lately it’s only available on Ford. com the 2023 pickup model.
The automaker, which just touted the F-Series’ dominance in pickup truck sales for 2023, touted a strategy that includes offering hybrid, gasoline and electric cars. Interest in hybrid pickup trucks is developing even as sales of electric cars increase, Ford said.
Tim Hovik, former chairman of the National Ford Dealers Council and current chairman of the Ford Model e dealer subcommittee, told The Free Press on Wednesday that the price changes on new cars are a fact that has little to do with electrification.
“No trader is going to be excited, but at the same time, it’s not like we’ve never noticed a value action,” he said. “We’d all like to see prices come down, but unfortunately that doesn’t seem to be the way the global industry works. “
Still, 90 percent of Ford’s EV portfolio still qualifies for federal tax credits and that’s the most important thing, said Hovik, whose Ford San Tan dealership, located in the Phoenix suburb of Gilbert, Arizona, is the nation’s largest Ford EV distributor. of California doors.
“As a dealership, we never jump in when prices go down. But I think it makes sense if you look at the price adjustments between the other models,” he said. “The pricing strategy reflects our classic strategy. . . It has 3 price grades and there is a bit of flexibility depending on the equipment. On the lower end of the range, the XLT doesn’t have leather seats. The top-tier Lariat does. The Plantinum Luxury offers all the features Ford has to offer.
Early adopters of electric cars opted for Tesla at first, Hovik said. “If we need to sell electric cars at the scale and scope that we need, that means we’re going to sell a lot of electric cars to other people who get up in the morning to go to the store and don’t. I don’t think they would buy an electric vehicle. I sold six Mach-Es (Mustangs) on Black Friday. None of the other people who came here were thinking about buying an electric vehicle.
For families who already have a classic gas-powered vehicle in the garage, it’s much less difficult to test drive an electric vehicle as a second driver, he said. “It makes all the sense in the world. That’s not to say they’re right for everyone. If you’re towing and hauling a lot of people, the Lightning is probably rarely your first choice.
But once car shoppers get behind the wheel of an electric vehicle, Hovik said, the whole conversation changes.
Read more: Ford plans to cut F-150 Lightning production as call slows
Contact Phoebe Wall Howard: 313-618-1034 or phoward@freepress. com. Follow her on X @phoebesaid.
This article originally published on Detroit Free Press: 2024 F-150 Lightning Lineup: Ford Announces Price Increases and Reductions