Ford F-150 Lightning price cut, now $51,990

Ford announced on Monday a significant price cut across its F-150 Lightning lineup.

The price cuts come after four consecutive price increases, with the electric truck starting at $51,990. This is a $9,979 reduction from the previous price increase, but still a $10,321 increase from when the F-150 Lightning goes into production in April 2022.

The initial price is for the F-150 Lightning Pro, a version designed for commercial use. For retail customers, the Pro will only have a standard range battery with an estimated range of 240 miles. However, a Ford spokesperson told Motor Authority that the Pro is sold out to retail customers for the remainder of the 2023 model year.

That means retail customers will have to upgrade to the F-150 Lightning XLT with a 240-mile standard range battery, which starts at $56,990, $9,479 less than before. 320-mile Extended Range Battery is available for an additional $15,000, bringing the starting price to $71,990. Compared to before today's announcement, this is an $8,879 price reduction.

Additionally, the Lariat with Standard Range Battery will start at $71,990 and the Lariat Extended Range will start at $79,490, a reduction of $6,979 and $8,479 respectively. Range-topping platinum starts at $93,990, $6,079 lower than before.

All figures include a $1,995 destination charge, and according to Ford, most Lightning models qualify for a $7,500 potential Inflation Reduction Act tax credit.

According to a spokesperson, the new pricing is effective immediately for trucks delivered today. This means that anyone who has already placed an order and is still waiting for their truck will receive the new prices.

Ford said it was able to make the price cuts because of improved economies of scale at its Rouge plant for trucks in Dearborn, Michigan. The plant is currently closed as Ford makes final upgrades. When it reopens, the plant is expected to produce 150,000 trucks a year beginning in the fall.

The cuts are also due to improved battery raw material costs, Ford said.

"Shortly after the launch of the F-150 Lightning, rapidly rising raw material costs, supply constraints, and other factors drove up the cost of EV trucks for Ford and our customers," Ford Model E Chief Customer Officer Marin Gujaja said in a statement." We have been working underwater to improve accessibility and affordability to lower prices for our customers and reduce wait times for the new F-150 Lightning."