Ford Slashes F-150 Lightning Costs In Many US Cities: Report

After lowering the costs of the Mustang Mach-e earlier this yr, Ford has began providing discounted costs for the F-150 Lightning in choose US states.

The 2023 Ford F-150 Lightning can now qualify for a ‘retail order bonus money incentive,’ in accordance with bulletins despatched to sellers final week, reported automobile shopping for portal CarsDirect. Consumers can save as much as $2,500 in the event that they order any model of the electrical pickup truck by July 31.

Right here’s an inventory of cities the place F-150 Lightning order reductions can be found when shopping for or leasing:

  • $2,500: Atlanta, Cincinnati, Dallas, Houston, New York, and Pittsburg. 
  • $2,000: Boston, Denver, Los Angeles, Philadelphia, San  Francisco, Seattle, and Washington. 
  • $1,000: Chicago, Charlotte, Detroit, Kansas Metropolis, Memphis, Orlando, Phoenix, and the Twin Cities area.

Furthermore, clients also can profit from 1.9 % financing for as much as 36 months on all Lightning variations. No such offers existed beforehand, and it is the primary time Ford is providing reductions on the electrical truck since deliveries started in the summertime of 2022, as per CarsDirect knowledge.

One other report states that clients in Phoenix can receive $1,000 from retail commerce help and $500 in low APR retail buyer money, for whole financial savings of $1,500. Keep in mind that the offers are regional, and won’t apply to each buyer.

Consumers in California may profit essentially the most. With the $7,500 federal tax credit score and the state’s $2,000 clear automobile rebate, the F-150 Lightning’s worth might plummet by as a lot as $12,000. 

The Professional variant, bought out for MY2023 as per Ford’s web site, begins at $59,974. Deliveries for the XLT, Lariat, and Platinum will begin from October 2023. 

Ford has 86 days’ price of F-150 Lightning stock and 113 days’ price of Mustang Mach-e inventory, as per a Reuters story that quotes Cox Automotive. Though Ford disagreed with the Cox estimate, stating that the model had 56 days’ price of provide for the electrical truck, together with transit time.

The Detroit carmaker’s BEV gross sales elevated thus far in 2023, with Lightning gross sales up by 119 % in Q2 2023. However June figures had been within the unfavorable. CEO Jim Farley stated lately that BEVs are unlikely to attain price parity with ICE autos till the tip of this decade.

Vendor stock ranges are hovering within the US, with a median weekly stock of 90,000 EVs. Analysts state that there’s a gulf between shopper enthusiasm about electrical vehicles, and precise purchases.

Value cuts look like the bulwark within the face of slumping gross sales. They usually’re working, particularly for Tesla, whose EVs have develop into considerably cheaper this yr. The Mannequin Y was the world’s best-selling automobile of any class within the first quarter of 2023, and CEO Elon Musk tasks it to be the top-selling automobile this yr.