Another price hike for Ford’s electric truck with the 2024 Ford F-150 Lightning now starting at the low $60,000 range.
With the Ford order banks reopening and the Rouge Electric Center resuming production after resolving a fire issue closed the plant for five weeks, there is also a change in the 2024 Ford F-150 Lightning price.
What’s the 2024 Ford F-150 Lightning price?
The 2024 Ford F-150 Lightning price varies by model with most seeing a few thousand dollars added to the price.
Starting with the XLT model, it will start at $63,474 according to Ford.com build and price tool. This is up from the 2022 model at $52,974.
Next, the Lariat standard range model goes from $76,369 to $77,869 while the Platinum gets a similar increase from $98,769 to $99,969 according to Autonews.com.
All prices include a $1,895 shipping charge.
It is worth noting the Ford F-150 Lightning Pro remains sold out for retail customers and is only available for commercial buyers according to the AutoNews.com above.
Finally, the Ford F-150 Lightning does qualify for the $7,500 Federal Tax Credit.
What’s with China?
The price increases follow inline with the surge in Lithium and other rare metal demands since they are used in the batteries.
These rare metal price increases really cause disruption in the market with most EVs total price being driven by the battery price.
For example, the Ford F-150 Lightning replacement battery price can be as high as the mid $30,000 for just the battery.
China recently changed its policy to stop subsidizing EV purchases and has since seen the market size cut in half as reported by Reuters. This is causing the price of Lithium and other rare metals to see a significant drop in price leading to optimism future Ford F-150 Lightning trucks will see a price decrease rather than another increase.
The bottom line
With higher prices, concerns on cold temperature range and a lack of infrastructure, it is a good idea to hit pause on purchasing a new 2024 Ford F-150 Lightning. If you can hold off for a few months, we might see a price drop when an abundance of Lithium supply drags down prices.
