The most significant reduction is $5,500 for the Flash trim, introduced this year, with the Extended Range battery pack.
Ford Motor Company (NYSE:F) is reportedly cutting prices on its 2024 F-150 Lightning electric truck again this year, by up to $5,500, to remain competitive in a crowded EV market.
Price Cuts and New Trims: According to CarsDirect, Ford informed dealerships about the price changes via a bulletin last week.
The most significant reduction is $5,500 for the Flash trim, introduced this year, with the Extended Range battery pack, bringing its price down to $67,995 (from $73,495).
2024 F-150 Lightning Price Changes
Why It Matters: These price adjustments make the F-150 Lightning a more attractive option for potential EV buyers, especially considering the increasingly competitive landscape and slowing market growth.
It’s also worth noting that the electric truck still qualifies for the full $7,500 federal tax credit, as its MSRP excluding destination falls under $80,000.
Strategic Moves? The price cuts are part of Ford’s broader strategy in the EV market. In December, the legacy automaker reduced production targets due to shifting market demands and just a month later, reduced prices for the F-150 Lightning.
Thanks to those adjustments, Ford saw an impressive 86% jump in U.S. electric vehicle sales during the first quarter of 2024.
Photo via Shutterstock
Engineered by
Benzinga Neuro, Edited by
The GPT-4-based Benzinga Neuro content generation system exploits the
extensive Benzinga Ecosystem, including native data, APIs, and more to
create comprehensive and timely stories for you.
Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
