Ford has once again raised the price of the F-150 Lightning Pro, its website revealed today. The cheapest variant of the all-electric pickup truck now starts at $55,974 – a price which rises to $58,514 when the $1,895 destination fee and the $645 acquisition fee are added to the total.
That marks a 9 percent or $4,745 increase over the price for the same vehicle a week ago. That was already significantly higher than the MSRP quoted for the most basic version of the electric pickup when pricing was first announced in May 2021.
In fact, this is the truck’s third price hike this year. The F-150 Lightning Pro’s rapidly rising prices have seen it go from a starting point of $39,974 to $48,769 in August 2022 (w/ destination), to $53,769 in October (w/ destination), to its current price. As a result of these adjustments, the base model F-150 Lightning Pro’s MSRP has risen by $16,000 this year alone. The XLT Standard Range trim, meanwhile, now costs $63,474, up $4,000 from its previous starting point.
Read: Ford F-150 Lightning Now Costs $10,000 More Than It Did At Launch
Normal Business, Says Ford
Ford told Carscoops that this increase is part of the “normal course of business due to rising material costs, market factors, and ongoing supply chain constraints.” Indeed, automakers around the world are responding to rising costs and tight supply lines.
Like Ford, companies making EVs have been hit particularly hard, with Tesla, Lucid, and Rivian all announcing price hikes for their EVs this year. As the cost of materials like lithium rises, the vehicles that use those materials’ MSRPs are rising, too.
Won’t Affect Existing Orders
The automaker told Carscoops, though, that this “pricing adjustment is related to our base models Pro and XLT [standard range]. Retail orders awaiting delivery are unaffected.” The same goes for commercial customers with a scheduled order.
Ford seems to believe, though, that this pricing increase won’t deter buyers, because just this week it announced that it would be adding a third line to its River Rouge assembly plant, where the F-150 Lightning is made.
The automaker cited “huge demand” for the electric truck as rationale for the addition of 250 workers to the line. Ford also said that tax incentives contained within the Inflation Reduction Act could add to demand for electric commercial vehicles.
Ford is targeting annual production of 150,000 F-150 Lightnings per year by the fall of 2023, and said earlier this year that it had received more than 200,000 orders for the electric truck.