The 2023 Ford F-150 Lightning, an all-electric pickup truck with a mile-long waiting list, opens its order banks on Thursday to customers who placed a $100 reservation and want to move forward with placing an official order.
Lightning prices have spiked $6,000 to $8,500, based on material costs and other factors. If reservation holders want to back out, they may. Sometimes people can’t wait for the time period needed to build, said Ford, which is ramping up production.
The waiting list remains longer than at any preschool in Manhattan.
John Lawler, Ford chief financial officer, warned last month during second quarter earnings communications that vehicle costs would be increasing. Now it’s happening.
Mo’ money
For the first time since the truck was revealed in May 2021, sticker prices are spiking from $6,000 to $8,500, Ford confirmed Tuesday.
This is the latest price list, not including $1,795 destination and delivery fee:
- Ford Pro, from $39,974 to $46,974 (up $7,000)
- XLT from $52,974 to $59,474 ($6,500)
- XLT High from $62,474 to $68,474 ($6,000)
- XLT High / Extended Range from $72,474 to $80,974 ($8,500)
- Lariat from $67,474 to $74,474 ($7,000)
- Lariat Extended Range from $77,474 to $85,974 ($8,500)
- Platinum from $90,874 to $96,874 ($6,000)
To date, Ford told the Detroit Free Press, the most popular Lightning sold has been the Lariat Extended Range, available in black, Anti Matter Blue or carbonized gray. All these colors will continue into 2023.
New colors for the pickups that will be built starting this fall will be Avalanche Gray and Azure Gray metallic tri-coat, which replace Atlas Blue, Ice Blue Silver and Smoked Quartz Metallic.
Automakers globally are adjusting sales prices to absorb additional manufacturing costs.
The big wave
The Ford F-150 is a cornerstone of the 119-year-old company and this battery-operated vehicle is intended to move mainstream truck buyers into the all-electric market faster than any other company.
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Potential buyers have clamored to place hundreds of thousands of $100 reservations to get in line and have the option to buy. Ford launched the vehicle in April 2022 amid a Dearborn power outage.
The order triggers a build date and the buyer awaits delivery. These vehicles are now made to order.
Reservation holders are actually invited by the company to place an order because they go in waves. The pricing adjustment goes into effect for this next wave.
Better mileage
The good news, Ford said, is that the standard range increased to an EPA-estimated 240 miles from 230 miles.
Also, Pro Trailer Hitch technology that controls steering, throttle and brakes is now available.
“Lightning reservation holders who previously received an invitation to order, but who elected to extend their reservation because their vehicle specification was unavailable, will receive a private offer for use in upcoming waves,” Ford said Tuesday.
People who have already placed orders and are awaiting delivery are not affected by the price changes, said Marin Gjaja, chief customer officer for Model e.
Ford officially launched its all-electric F-150 in April 2022. Customer deliveries began in May. More than 4,400 have been sold so far, Ford said.
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Contact Phoebe Wall Howard at313-618-1034orphoward@freepress.com.Follow her on Twitter@phoebesaid. Read more on Ford and sign up for our autos newsletter.