Ford worked its way toward a solid (and popular) electric truck with the F-150 Lightning — so much so that the Blue Oval had to stop taking reservations to fill the existing 2022 order bank. Now, you’re able to spec out a 2023 model truck on the Build & Price page and will soon be able to order your new electric truck, but there’s a caveat. Depending on which model you’re looking at, you could be paying up to $7,000 — possibly more, depending on available EV incentives and potential dealer markups.
“Due to significant material cost increases and other factors,” Ford says, “[the company] has adjusted MSRP starting with the opening of the next wave of F-150 Lightning orders.” That said, Marin Gjaja, chief customer officer of Ford’s “Model e” electric division, insists this will not affect those who already have an outstanding order for a new F-150 Lightning. “Current order holders awaiting delivery are not impacted by these price adjustments. We’ve announced pricing ahead of re-opening order banks so our reservation holders can make an informed decision around ordering a Lightning.”
Clarification 8/9/2022: The F-150 Lightning Build & Price is active, but the ability to actually order one will happen in waves. Per Ford: “Lightning reservation holders who previously received an invitation to order, but who elected to extend their reservation because their vehicle specification was unavailable, will receive a private offer for use in upcoming waves.”
2023 Ford F-150 Lightning price increases, by trim
Per Ford’s official statement, the prices have gone up by around $7,000 for most of the range (excluding MSRP):
- Lightning Pro: Now $46,974 (was $39,974)
- XLT: Now $59,474 (was $52,974)
- XLT with “High” Package: Now $68,474 (was $62,474)
- XLT High w/ Extended Range battery: Now $80,974 (was $73,974)
- Lariat: Now $74,474 (was $67,074)
- Lariat Extended Range: Now $85,974 (was $77,074)
- Platinum Extended Range: Now $96,874 (was $92,669)
Keep in mind that Ford does automatically add in their 240V-capable mobile power cord, adding another $500 to the overall price. You can technically uncouple that option from your build, but it’s unlikely most people will (and dealers will certainly include it on trucks they sell from inventory).
What more do you get for the money?
Broadly speaking, the feature list for the 2023 Ford F-150 Lightning remains across trim levels. However, you do get a bit more for your cash on Standard Range models. Ford upped the SR’s EPA-estimated range from 230 miles to 240 miles, and is adding in their Pro Trailer Hitch Assist as part of the Tow Technology package on Pro, XLT and Lariat trims.
For fleet customers, Ford is adding in a Special Service Vehicle Package option for the F-150 Lightning Pro. That includes heavy-duty cloth front seats, steel intrusion plates and available LED warning beacons mounted on the roof.
There’s another possible twist in the pricing story — the federal tax incentive
For many years, folks buying into EVs have at least had a $7,500 tax credit to fall back on. That takes some of the bite out of the higher price tag, but you may not be so lucky in the near future with the F-150 Lightning. As part of the Inflation Reduction Act of 2022, which is st ill working its way through Congress but will most likely become law upon narrowly passed the Senate on a tie-breaking 51-50 vote, automakers would be forced to source at least 40% of a vehicle’s materials from North America to be eligible for that $7,500.
At the moment, Ford sources its batteries from Chinese outfit CATL. That will change in the future, as the automaker’s currently building out a battery plant in Commerce, Georgia. That plant is in collaboration with South Korea’s SK Innovation, while the company is also working on its “Blue Oval City” mega campus in Tennessee as well as another facility as part of the BlueOvalSK joint venture in central Kentucky.
So far this year, Ford dealers have sold 4,469 F-150 Lightnings. It’s unclear how the price increase and tenuous tax incentive situation will impact 2023 demand, but we should have a clearer answer on that near the end of the year.
Update 8/9/2022: Added in a sentence referencing Ford’s $500 mobile power cord.