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Ford hikes price of F-150 Lightning electric truck by up to $8,500

Ford Motor Co. is ready to once again start accepting new orders for its popular F-150 Lightning electric truck (pictured), but the vehicle will cost new customers up to $8,500 more, the company confirmed Tuesday. Photo courtesy Ford
Ford Motor Co. is ready to once again start accepting new orders for its popular F-150 Lightning electric truck (pictured), but the vehicle will cost new customers up to $8,500 more, the company confirmed Tuesday. Photo courtesy Ford

Aug. 9 (UPI) -- Ford is ready to once again start accepting new orders for its popular F-150 Lightning electric truck, but the vehicle will cost new customers up to $8,500 more, the company said Tuesday.

The automaker said it's raising the manufacturer's suggested retail price for the trucks, beginning with the 2023 models.

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"Ford is adjusting the MSRP on the F-150 Lightning for the first time since it was revealed in May 2021 and has honored MSRP for all customer orders to date. Due to significant material cost increases and other factors, Ford has adjusted MSRP starting with the opening of the next wave of F-150 Lightning orders," Ford said in a statement.

Ford will reopen its order banks Thursday for the next wave of reservation holders and the price will range between $46,974 and $96,874, depending on the model.

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That's up from roughly $40,000 to $92,000 for the 2022 model-year.

"Current order holders awaiting delivery are not impacted by these price adjustments," Ford Chief Customer Officer Marin Gjaja 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."

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Prices for electric vehicles have surged in recent months, largely due to supply chain constraints. The surge in raw material cost has been exacerbated by the war in Ukraine because Russia is a key exporter of several metals used in battery cells.

The average sticker price for an EV in the United States in May was up 22% from a year ago, to about $54,000, according to J.D. Power. Meanwhile, the average price for an internal-combustion vehicle rose 14% over the same period, to about $44,400.

In June, General Motors raised the average price of its electric Hummer truck by more than $6,000.

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