HomeIndustriesFord Slashes Prices of F-150 Lightning EV By Almost $10K

Ford Slashes Prices of F-150 Lightning EV By Almost $10K

Ford is making its F-150 Lightning electric vehicle substantially affordable for new customers. The company announced price slashes for the truck that saw some models getting cheaper by almost $10,000.

The F-150 Lightning Pro EV saw its original price of $59,974 drop to $49,995, while other models were discounted between 6% and 15%. The priciest F-150 Lightning model, Platinum EXT Range, went from $98,074 to $91,995.

According to Ford’s announcement, the lower prices will be applied to dealer stock, meaning that the customers who already ordered the EV but didn’t have it delivered will also benefit.

Ford debuted the Lightning series of EVs back in 2021 and had an initial price of $40,000 for the basic model. However, the surging costs and supply chain prompted the automaker to hike the prices on several occasions.

Despite the hiked prices, F-150 Lightning has seen an increase in sales of 119% in the second quarter of 2023. Overall, Ford EVs were up 11.9% in sales for the first half of the year.

While the numbers indicate that the customers were not discouraged by hiked prices of the F-150 Lightning, Ford still decided to make them more affordable. This is likely a result of an increased inventory and could also indicate that new models might be coming in the fall.  

UPS Stocks Tank Amid Disappointing Earnings

Shares in United Parcel Serice (UPS) slumped by 13% during midday trading on Tuesday after the company reported lower-than-expected second-quarter financial results. Adjusted profit...

Wiz Rejects $23 Billion Acquisition Bid From Google

Wiz has rejected a $23 billion acquisition offer by Google parent company Alphabet Inc. "Saying no to such humbling offers is tough," Wiz CEO...

S&P 500 Rally Stalls Ahead of Earnings Season

U.S. stocks showed little movement on Tuesday as traders began to reflect on corporate financial results as earnings season gets underway. Investors are anxiously...