---
title: "Ford cuts price on electric version of F-150 truck by up to 17%"
description: "The manufacturer is slashing prices on the electric version of its best-selling F-150 pickup by as much as 17%, as it moves to fend off new competition coming from Tesla Inc. and General Motors Co."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2023-07-17-ford-cuts-price-on-electric-version-of-f-150-truck-by-up-to-17/"
published: "2023-07-17T18:00:11"
lang: "en-ZA"
word_count: 338
---

# Ford cuts price on electric version of F-150 truck by up to 17%

> The manufacturer is slashing prices on the electric version of its best-selling F-150 pickup by as much as 17%, as it moves to fend off new competition coming from Tesla Inc. and General Motors Co.

By Bloomberg · Published 17 July 2023, 20:00 SAST

## Key points
- Ford is countering competition from GM and Tesla by offering price cuts and incentives on its F-150 Lightning electric truck.
- Ford cuts prices of F-150 Lightning Pro electric truck by $10,000
- Price reduction to remain competitive against GM and Tesla
- Ford offering $1,000 off for online configurations and 1.9% financing for 36 months
- Production at Rouge Electric Vehicle Centre temporarily closed

## Content

The cuts reverse price hikes Ford implemented over the last year that had raised the starting sticker price on its debut battery-powered truck by 50%.

The F-150 Lightning Pro, the cheapest version of the electric truck, now starts at $49,995. That’s down about $10,000 but still above an original starting price of $39,974 when it went on sale in April 2022.

Ford is acting in part to get ahead of competition coming from GM, which began [building](https://www.bloomberg.com/news/articles/2023-05-19/gm-finally-enters-electric-pickup-battle-with-40-000-silverado) an electric version of its Chevrolet Silverado pickup earlier this year, and Tesla, which revealed over the weekend that it has built its [first Cybertruck](https://www.bloomberg.com/news/articles/2023-07-15/tesla-starts-cybertruck-production-two-years-behind-schedule).

“The EV market is rapidly changing and we need to adapt to remain competitive,” said Martin Gunsberg, a Ford spokesman.

Shares of the company pared an early drop of as much as 5.3% to trade down 3.8% to $14.41 as of 10:05 a.m. in New York.

Ford also has added incentives on the F-150 Lightning for the first time, offering $1,000 off if shoppers configure their truck online and providing cut-rate financing of 1.9% for 36 months to buyers who qualify.

The car manufacturer has more room to cut prices because of lower battery costs and scale economies, it said Monday in a statement.

Ford [repeatedly](https://www.bloomberg.com/news/articles/2022-10-05/ford-hikes-price-of-electric-f-150-again-on-rising-supply-costs) raised the price of the electric F-150 last year, blaming rising material costs and supply shortages. But in January, Ford [cut prices](https://www.bloomberg.com/news/articles/2023-01-30/ford-cuts-price-of-electric-mustang-mach-e-in-response-to-tesla) of its electric Mustang Mach-E SUV after Tesla dropped the prices on its models.

Ford also said it has temporarily closed its Rouge Electric Vehicle Centre in Michigan to expand the plant’s production of F-150 Lightning models to 150,000 vehicles a year starting this fall. Production ceased in late June and will come back online this fall, Gunsberg said.

F-150 Lightning ended June with 88 days supply, according to Cox Automotive. That’s above the industry standard of 60 days supply, but was below the overall inventory level for all F-Series trucks, which stood at more than 100 days at the end of June, according to Cox. **DM**