Ford F-150 Lightning gets significant price cut across the full range

The electric Ford F-150 Lighting just got a lot cheaper. Citing factors such as increased plant capacity, efforts to scale up production to reap the rewards of economies of scale, and cheaper raw materials, the Blue Oval slashed the truck’s base price across the entire line-up.

Lightning buyers still have four trim levels called Pro, XLT, Lariat, and Platinum, respectively, to choose from, and the middle two models remain available with two battery options (standard- and extended-range). Updating pricing for the full F-150 Lightning range is as follows:

• Pro: $51,990 ($9,979 less than the previous price)
• XLT: $56,990 ($9,479 less than the previous price)
• XLT Extended Range: $71,990 ($8,879 less than the previous price)
• Lariat: $71,990 ($6,979 less than the previous price)
• Lariat Extended Range: $79,490 ($8,479 less than the previous price)
• Platinum: $93,990 ($6,079 less than the previous price)

Note that these figures include a mandatory (and rather hefty) $1,995 destination charge and exclude any and all available incentives. While any price drop is noteworthy in an era where price hikes have become the status quo, it’s important to point out that the drop follows several significant price increases announced over the past couple of months. We’re still pretty far from the $40,000 base price Ford floated in 2021.

Ford hasn’t made any significant equipment changes to the Lightning, so the lower prices aren’t hiding a shorter list of standard features. And there are no major drivetrain modifications to report. Power for the base F-150 Lightning Pro comes from a pair of electric motors (one per axle) that draw electricity from a 98-kilowatt-hour lithium-ion battery pack to zap the four wheels with 462 horsepower and 775 pound-feet of torque. In this configuration, the battery-powered truck has up to 240 miles of driving range and can tow up to 5,000 pounds.

Selecting the 131-kilowatt-hour extended-range battery pack, which is optional on XLT and Lariat models and standard on the Platinum trim, increases horsepower to 580, though torque stays flat. Range and towing capacity increase to 320 miles and 7,700 pounds, respectively.

Ford told Autoblog that the lower prices are effective as of July 17, 2023. They apply to the 2023 Lightning; the brand hasn’t announced the 2024 model yet. The company adds that some retail customers can claim a $1,000 bonus as part of a sales event that ends on July 31.