Ford F-150 Lightning pickup vans are proven on the Ford Rouge Electrical Automobile Heart on April 26, 2022 in Dearborn, Michigan.
Invoice Pugliano | Getty Photographs
DETROIT — Ford Motor is rising the beginning worth of its electrical F-150 Lightning pickup by $5,000 for the 2023 mannequin 12 months, citing rising prices and provide chain points.
The brand new worth of the 2023 Lightning Professional, an entry-level mannequin meant for business and enterprise clients, will probably be $51,974 — up almost 11% from earlier pricing and a 30% improve from the unique $39,974 worth in Might 2021.
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In an emailed assertion, Ford mentioned it’s adjusting the value “as a consequence of ongoing provide chain constraints, rising materials prices and different market components. We’ll proceed to watch pricing throughout the mannequin 12 months.”
Present retail order holders and business and authorities clients with a scheduled order will probably be unaffected by the value improve, the corporate mentioned.
Ford made waves when it introduced the beginning worth for the Lightning could be about $40,000, making it extra reasonably priced than many EVs available on the market. Wall Avenue praised the automobile, and it was a serious increase for the corporate at the moment, as traders had been concentrating on EV start-ups.
However vital uncooked materials prices comparable to cobalt, nickel and lithium have greater than doubled in the course of the coronavirus pandemic, in response to a report from AlixPartners this summer time.
The fee will increase and different provide chain issues, which Ford estimated would lead to $1 billion in sudden prices in the course of the third quarter, have pressured automakers to extend EV costs to retain earnings.
Lower than two months in the past, Ford introduced worth will increase of between $6,000 and $8,500 on the Lightning, relying on the mannequin.
The beginning costs for the 2023 F-150 Lightning will now vary from about $52,000 to $97,000, up from roughly $40,000 to $92,000 for the 2022 mannequin 12 months. Costs exclude taxes and transport and supply prices.
Originally published at Gold Coast News HQ
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