Ford Motor Co. on Thursday will reopen order banks for the next round of reservation holders of the all-electric F-150 Lightning — and customers will see both improvements in range and a higher price for model year 2023.
Citing "significant material cost increases and other factors," the Dearborn automaker said it would increase the manufacturer's suggested retail price on the Lightning starting with the opening of this latest wave of orders. The base model of the truck will go up by $7,000, or 17.5%, to just under $47,000.
Ford launched production of the Lightning in April. Even before that, the company said demand for the electric version of America's bestselling truck exceeded initial production capacity. The automaker capped reservations at 200,000 and moved to boost production capacity at the Rouge Electric Vehicle Center in Dearborn to 150,000 units per year by next year.
Faced with rising raw materials prices, EV makers — including Ford and numerous of its rivals — have increased prices on some models.
General Motors Co., for example, boosted the price on its GMC Hummer EV pickup truck and SUV by $6,250 starting June 18. Ford raised the price on its Mustang Mach-E after commodity pressures wiped out profit margins on the electric crossover SUV. Tesla Inc. this year has implemented price increases on some of its models.
To date, the starting price on the Lightning was $39,974, excluding destination fees. The suggested prices announced Wednesday, excluding destination fees, are:
— $46,974 for the F-150 Lightning Pro
— $59,474 for the XLT
— $68,474 for the XLT High
— $80,974 for the XLT High/extended range
— $74,474 for the Lariat
— $85,974 for the Lariat extended range
— $96,874 for the Platinum extended range
"Current order holders awaiting delivery are not impacted by these price adjustments," Marin Gjaja, chief customer officer of Model e, said in a statement. "We've announced pricing ahead of re-opening order banks so our reservation holders can make an informed decision around ordering a Lightning."
Lightning reservation holders who previously received an invitation to order their vehicle, but who extended their reservation because their specifications were unavailable, will receive a "private offer for use in upcoming waves," Ford said.
Meanwhile, Ford said the standard range battery models have been boosted to an EPA-estimated targeted range of 240 miles, up from 230. The automaker also is adding Pro Trailer Hitch Assist technology to the 2023 model year Lightning.
That feature automatically controls steering, throttle and brake inputs to make hitching trailers easier. The feature comes standard on the Tow Technology Package, which is available on the Pro, XLT and Lariat trims and comes standard on certain Lariat trims and the Platinum trim.
Lightning customers also will have two new colors among 10 available options: Avalanche Gray and Azure Gray metallic tri-coat. Those colors replace Atlas Blue, Ice Blue Silver and Smoked Quartz Metallic, which will no longer be available on models built starting this fall.
Ford also is introducing a purpose-built Lightning Pro geared toward police departments in model year 2023.
Year-to-date, Ford has sold 4,400 Lightnings.
