The article below is sourced from Bloomberg Wire Service. The views and opinions expressed in this story are those of the Bloomberg Wire Service and do not necessarily reflect the official policy or position of NADA.
Ford Motor Co. slashed prices of its electric F-150 Lightning pickup truck by as much as 7.5% as the automaker prepares to resume deliveries this month following a halt earlier this year over an undisclosed quality issue.
The price cuts put in place April 5 partially reverse hikes in January as Ford was reducing production of its signature electric vehicle by half and eliminating a shift of workers. The biggest reduction of $5,500 is on the Flash extended-range model, which now starts at $67,995, the automaker said.
Ford said via email that the cuts will help it “adapt to the market to achieve the optimal mix of sales growth and customer value.”
The move comes as Chief Executive Officer Jim Farley is rethinking Ford’s EV strategy by delaying some models, cutting spending on battery-powered vehicles by $12 billion and pivoting to offer gas-electric hybrid propulsion systems across its lineup. Many mainstream US consumers are not embracing EVs, citing high prices and a spotty charging infrastructure.
Ford has said it expects to lose as much as $5.5 billion on EVs this year and is putting a renewed emphasis on gas-fueled models such as the Bronco sport-utility vehicle. Farley said in February that progress in the EV market will “take more time than we expected 18 months ago.”
Ford is developing three small EVs starting at $25,000 that are due to debut in late 2026, Bloomberg has reported. Farley said those models, which include a compact pickup truck, a small SUV and a car designed for ride-hailing, are aimed at taking on cheap Chinese EVs expected to arrive in America in the coming years.
Among the latest changes with Lightning pricing, the popular XLT standard range model was reduced by $2,000, to start at $62,995. The Lariat extended range model fell by $2,500 to start at $76,995. The base price of the cheapest Lightning, the commercial “Pro” model, remains unchanged at $54,995.
The Lightning price cuts were reported earlier by CarsDirect.
For more stories like this, bookmark www.NADAheadlines.org as a favorite in the browser of your choice and subscribe to our newsletter here:
