Ford will enable customers to reserve their F-150 Lightning's this week, but with a price increase.
Almost nine months ago, Ford Motors halted the reservations for the much-anticipated F-150 Lightning. Now, the Dearborn, Michigan headquartered company is reopening reservations for the vehicle beginning Thursday, but at a new price point.
According to Engadget, those who are looking to purchase a Ford F-150 Lightning will have to face a $4,200 to $8,900 price increase, depending on the trim. Ford Motors said that the price increases were because of "significant material cost increases and other factors."
Ford's Model E chief customer officer Marin Gjaja reassured current order holders however that their deliveries will not be affected by the recent price adjustments.
In a statement, Gjaja explained that the company announced the new pricing ahead of the reopening of Ford F-150 Lightning reservations so that customers could "make an informed decision" about their purchase.
Ford added that those who previously had a reservation and received an invite order but chose to wait for their chosen configuration to become available will be notified of a "private offer for use in upcoming waves."
How Much Does the Ford F-150 Lightning Cost Now?
Those who are looking to purchase a base Ford F-150 Lightning will have to shell out up to $7,000, as its new price is $46,974. Meanwhile, the standard mid-range XLT also has a $6,500 price increase, with a new price tag of $59,474.
Ford's Platinum Extended Range has about $4,000 added, resulting in a new price tag of $96,874. The Verge reported that the largest price jump is for the Lariat Extended Range, with a whopping $8,900 increase to $85,974. These prices do not include delivery fee.
Read Also: Ford Will Reportedly Lay Off 8,000 Employees in Order to Fund EV Expansion
New Incentives for the Ford Price Increase
The price increases for the Ford F-150 Lightning do not come without any perks. In fact, models with the standard-range battery will feature a target EPA-estimated range of 240 miles, some 10 miles more per charge.
Ford is also equipping the vehicles with Pro Trailer Hitch Assist tech, which is designed to make it easier for drivers to hitch trailers through automatic steering, throttle and brake controls.
These features are part of the Tow Technology Package on Pro, XLT and Lariat trims and as a standard feature on some Lariat trims and the Platinum trim of the Ford F-150 Lightning.
The company has also updated the color options, replacing Atlas Blue, Ice Blue Silver and Smoked Quartz Metallic with Avalanche Gray and Azure Gray metallic tri-coat options instead. These new colors will be available on builds this Fall.
More Automakers Increase Vehicle Prices
CNBC reported that Ford Motors is the latest vehicle manufacturer to increase pricing of their new electric vehicles in the face of rising inflation rates and prices of commodities. Other carmakers that raised their prices are General Motors, EV startups Rivian Automotive and Lucid, and Tesla.
Consulting and research form AlixPartners said that the cost of raw materials for EV batteries had more than doubled during the COVID-19 pandemic. As for Ford Motors, it sources its EV batteries from the South Korean company SK Innovation, which builds them in a Georgia facility.
The automaker said it is looking to transition to lithium iron phosphate batteries (LFP) manufactured by the Chinese company Contemporary Amperex Technology (CATL) for the Mach-E in 2023 and the F-150 Lightning in 2024.
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