Ford Raises Price of F-150 Electric Truck as Inflation Bites

3 months ago 30

Ford Motor Co. is raising the price of its electrical motortruck F-150 Lightning Pro for the 2023 twelvemonth exemplary by astir 11 percent, seeking to cushion the deed from ongoing proviso concatenation snags and decades-high inflation, a spokesperson for the automaker said connected Wednesday.

The terms of the caller exemplary has been acceptable astatine $51,974 compared to $46,974 earlier, owed to “ongoing proviso concatenation constraints, rising worldly costs and different marketplace factors,” the spokesperson said.

U.S. automakers including EV elephantine Tesla Inc. and Rivian Automotive Inc. person besides raised prices for their vehicles this year, squeezed by pugnacious economical conditions that person been worsened by the Russian penetration of Ukraine.

In August, Ford raised prices for its F-150 Lightning lineup for the archetypal clip since it was revealed past year, by a scope of $6,000 and $8,500 depending connected the variant.

The Pro model, the cheapest of the variants, was priced astir 18 percent higher than before, amid a surge successful costs of earthy materials specified arsenic lithium that is utilized successful EV batteries.

The Ford spokesperson said those who person already scheduled their order, including commercialized and authorities customers, volition not beryllium affected by the latest hike.

On Tuesday, Ford reported beardown request for caller vehicles successful the United States, saying retail orders were rapidly expanding, but warned that proviso issues continued to measurement connected sales.

Demand for cars and trucks whitethorn suffer steam successful the coming quarters arsenic rising involvement rates discourage consumers from paying much wealth for vehicles, analysts person said.