2024 Ford F-150 Lightning Up To $5,500 Cheaper Than Expected

2024 Ford F-150 Lightning Up To $5,500 Cheaper Than Expected

Ford has reduced pricing for the 2024 F-150 Lightning according to a dealer memo that leaked pricing ahead of the order banks opening. The latest price change, first reported by Cars Direct, comes in response to declining demand, with the Blue Oval attempting to drum up sales. The latest updates come just a month ahead of the MY2024 F-150 Lightning being made available to customers. The 2023 model is still available, and pricing remains unchanged, with a base MSRP of $49,995.

It’s worth noting that only three 2024 F-150 Lightning models are cheaper than initially expected, with the entry-level Pro and top-spec Platinum retaining their original 2024 pricing.

Not all 2024 F-150 Lightning trims benefit from a price cut, but the XLT, Flash, and Lariat have received substantial MSRP reductions. The Flash is $5,500 cheaper than initially expected, which should encourage more customers to take ownership of the Lightning. Along with Inflation Reduction Act tax credits, the Flash trim introduced last year could cost just over $60,000. This mid-spec model is based on the mid-level XLT trim but boasts a larger battery pack that increases range from 240 miles to 320 miles.

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Ford F-150 Lightning Production Cut Drastically As Demand Dwindles

Ford is reducing F-150 Lightning production by two-thirds, and nobody is surprised.

Dealerships are struggling to sell electric vehicles, with customers instead opting for more affordable hybrids and PHEVs. This trend has resulted in several automakers rethinking their strategies, including General Motors, Jaguar Land Rover, and Mercedes-Benz. Ford also recently announced that it would delay the development of several new EVs to focus on hybrids. EVs remain part of the agenda; Ford is working on a low-cost platform that will underpin cheaper EVs, but this is still some years away.

It’s worth noting that Ford has also reduced pricing for the Mustang Mach-E, and that resulted in increased sales. It remains to be seen whether the same thing happens with the electric pickup truck.