Ford has announced the second price hike in two months on the F-150 Lightning Pro trim, the least expensive model it offers. The automaker cited rising material costs and supply chain troubles for the increase.
A spokesperson confirmed to Automotive News that the 2023 F-150 Lightning Pro will now start at $53,769, including the $1,795 shipping fee. That marks an increase of $5,000 over the existing price, which was the result of another price hike in August.
That increase came as part of an adjustment that affected the entire Ford lineup, and saw the price of the F-150 Lightning Pro rise to $48,769 (including shipping). This price hike, though, will only affect the electric pickup truck, but it means that the entry level trim costs $13,795 more than the automaker advertised when it first introduced the vehicle in May 2021.
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Ford was particularly proud of its vehicle’s sub-$40,000 starting price. At the time, it boasted that sharing components with its other trucks meant that it could keep the new electric F-150 Lightning’s low.
Ford is, however, far from the only manufacturer raising its prices. Hardly a 2023 model year vehicle has been spared inflation-related price adjustments, but electric vehicles in particular are feeling the pinch. So far this year, Rivian, Lucid, and Tesla have all announced price hikes to their vehicles as a result of inflation, supply chain pressure, and other factors.
Indeed, Ford admitted in September that commodity costs have eliminated the early profits it was seeing on the Mustang Mach-E and other EVs. It also warned that its third-quarter earnings will be affected by supplier costs that were higher than expected, as well as a lack of parts.
The F-150 Lightning Pro is powered by two motors that offer 436 hp (325 kW/442 PS) and 775 lb-ft (1,050 Nm) of torque, and it has a 2,000 lb (907 kg) payload capacity and can tow up to 7,700 lbs (3429 kg) with the Max Trailer Tow package. With the standard-range battery pack, it can go up to 240 miles (386 km) on a charge.