Ford F-150 Lightning: Electric Power Meets Affordability

Photo Source: Ford

Ford’s F-150 Lightning took the market by storm when it debuted in 2021. Intended initially to be a sub-$40,000 MSRP (Plus destination fee) all-electric variant of the most popular pickup truck in history, anticipation for the vehicle rapidly reached a fever pitch with over 100,000 reservations placed within the first month of the automaker’s announcement. However, as the years and months went on, Ford continued to implement price hikes on the F-150 Lightning. That said, on April 16, 2024, Ford reduced pricing for the 2024 F-150 Lightning in response to declining demand, with the Blue Oval attempting to drum up sales. The latest updates come merely a month ahead of the 2024 model year F-150 Lightning being made available to buyers.

Not Cheap but Reasonable

The manufacturer has reopened its order books for 2024, and most trims of the F-150 Lightning have received significant cost reductions. Even though the top-tier Platinum trim remains unchanged at $84,995 MSRP (excluding a $2,095 destination fee), respectively, every other version became more affordable. Surprisingly, Ford makes no mention of the previous introductory-level Pro trim on the pickup truck’s current product page, presenting the XLT as the base-level offering. As such, the starting price tag now stands at $62,995 MSRP (excluding a $2,095 destination fee), representing a $2,000 drop than before.

Meanwhile, the Lariat trim, slotting just below the Platinum as a luxury offering, sees its price decrease $2,500 from $79,495 MSRP (excluding a $2,095 destination fee) to $76,995 MSRP (excluding a $2,095 destination fee). Then, there is the F-150 Lightning Flash, the mid-level offering that likely appeals to most customers thanks to its combination of attributes such as an extended 320-mile range, a wireless charging pad, a 15.5-inch LCD Capacitive Touchscreen, and Intelligent Access with Push-Button start. Not only that, the trim features BlueCruise hands-free highway driving and a 10,000-pound towing capacity. It receives the largest price cut of all, dropping a full $5,500 to $67,995 MSRP (excluding a $2,095 destination fee).

The Consequences of Price Reductions

It is worth noting that there is a $60,000 MSRP (Plus destination fee) barrier to entry and almost $70,000 MSRP (Plus destination fee) for the trim that will attract most customers, and this is admittedly a long way from the $40,000 MSRP (Plus destination fee) electric vehicle originally promised three years ago (2021). Nonetheless, it is refreshing to see the F-150 Lightning prices falling, and that trend will likely need to continue if the pickup truck is ever going to establish itself as the popular seller it initially looked like.

That said, readers must keep in mind that dealerships are struggling to sell electric vehicles, with buyers instead opting for more affordable hybrids and plug-in hybrid electric vehicles. For Ford, electric vehicles remain part of the agenda. For example, the brand is pushing toward assembling a low-cost platform that will underpin cheaper electric vehicles, but that is still some years away. Notably, the Blue Oval has also reduced pricing for the Mustang Mach-E, and that resulted in increased sales. It remains to be seen whether the same thing happens with the electric pickup truck.

If the F-150 Lightning has drawn your attention, please come visit Sunrise Ford. Do not forget we have a trained service team that can help with an online appointment to get started on all maintenance work and repairs. We know what it takes to provide a worthwhile experience.