Ford has announced yet another price hike for its the GMC Hummer pickup. Chevrolet is also entering the market with the Silverado EV, while Tesla's Cybertruck is in the works too.
The F-150 Lightning recently received yet another price hike. According to CNBC, buyers will need to shell out $55,974 to acquire the entry-level Pro trim. This is the third time that Ford has hiked the price of the F-150 Lightning this year. When Ford first launched the truck, the base trim sold for $39,974. Although those interested in add-ons and additional functionalities had to pay more, many believed that the entry-level MSRP would attract many buyers. However, in August, Ford hiked the prices between $6,000 and $8,500, depending on the trim level. In October, Ford announced a $5,000 price hike for the entry-level trim, taking the price to $51,974.
Is The Ford F-150 Lightning Still Worth Buying?
While Ford's electric truck can hardly be considered budget-friendly at the current price, it still offers several compelling features. The truck comes with bidirectional charging abilities, meaning that it's capable of acting as a standby generator during power outages. Drivers will also enjoy ample range which should eliminate the need for range anxiety. Fast charging is guaranteed, plus the Blue Oval network ensures that drivers can easily locate the nearest charging station.
Ford cites the rising cost of raw materials, ongoing supply chain issues, and market factors as the reason for the price hike. But then, the automaker isn't the only electric truck manufacturer to have taken drastic steps. Rivian announced a $12,000 price hike for its R1T pickup and then backtracked to the original price following public outcry. In August, the newbie carmaker revealed that it was discontinuing production of the Explore edition. For context, Explore is the entry-level variant for the R1T and R1S EVs. As Ford and other automakers strive to sustain the output of new models, sacrifices will need to be made, and raising the prices of vehicles seems to be a common solution.
Source: CNBC