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Ford F-150 Lightning Price Jumps Force Order Holders To Bail

Things got off to a solid start for the Ford F-150 Lightning following its launch for the 2022 model year, as The Blue Oval racked up a ton of reservations and orders for the new pickup. Demand initially exceeded supply, but amid rising commodities costs, FoMoCo wound up increasing the prices of its EV pickup on multiple occasions – last August, October, and December, as well as this past March, when order banks reopened, making the Ford F-150 Lightning roughly 40 percent more expensive than when it launched. FoMoCo raised the prices of certain trims while reducing others back in May, but it seems as if some order holders have had enough, according to The Verge.

“What we’re seeing is that we are having a lot of customers just canceling theirs,” said Tim Bartz, podcaster and internet sales manager at Long McArthur Ford in Salina, Kansas. Bartz noted that of the roughly 135 reservations he has received thus far, about 40 customers have decided to cancel over pricing. “Ford advertised a $40,000 electric vehicle, and that attracted a lot of people. Now we’ve seen price increases, and those people are like, ‘I’m out,'” he said.

Wil Morisse – owner of the EV enthusiast site F The Pump – took delivery of a 2022 Ford F-150 Lightning Lariat with the standard range battery thanks to an abandoned allocation, but he also reserved an extended range model with the expectation that it would cost around $74,000. However, that wasn’t the case. “By the time I was given a chance to order, it was October 2022,” he said. “Delivery was pushed back until April 2023. Pricing had gone up to $89,000, and they removed a bunch of options like bed scales, heated steering wheel, and more.” As a result, he opted to simply stick with his standard range pickup.

Ford Rouge Electric Vehicle Center F-150 Lightning Production Process - Exterior 001 - Front Three Quarters

Indeed, many customers were enticed by the F-150 Lightning Pro’s initial sub-$40k starting price, but now that it has risen nearly $20k to $59,974, that interest has apparently waned considerably. “Customers tell me that they were looking to get in at that $40,000 truck, but now that’s $60,000, and you can’t even get that truck since they’re sold out of them. Now you’ll have to pay $65,000 minimum; that’s just a whole different level,” Bartz said. On the bright side, Ford is working to ramp up production, which should have a positive impact on availability and pricing, and the arrival of a less expensive lithium-iron phosphate battery in the standard range model next year is also expected to bring about a price reduction.

We’ll have more on the 2023 Ford F-150 Lightning soon, so be sure and¬†subscribe to Ford Authority¬†for the latest Ford F-150 news, F-150 Lightning news, and comprehensive Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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Comments

  1. Mik Williams

    If they canceled their orders did they get their deposits back?? $500 to reserve one and when they canceled did the dealership just give them their money back?

    Reply
    1. WisdomLost

      $100.

      I got mine back. Dealership had nothing to do with it. I just canceled my order on the Ford website.

      Reply
  2. David Dickinson II

    Ford thought people were interested in the Lightning because it is an EV. Turns out people were interested in the Lightning because it was cheap. Price sells. Always has. Always will.

    Reply
    1. WisdomLost

      Actually, I was interested in it because it’s an EV. The torque and efficiency, along with very low maintenance and operation costs made it interesting. Unfortunately, it can only do “truck things” for very short bursts.

      Price made it appealing at $40k, and acceptable at $65k. Towing made it impossible for me, though. When the cheapest version with the extended range battery went up to just below the cutoff for the tax incentive, and over that with a couple of basic add-ons, I just laughed and walked away.

      Ford’s bait and switch on the pricing is going to hurt them in the long run. I placed my reservation first day, and according to everything I was seeing at the time, I should have been in the first batch to receive an order. Instead, my order opened after 2 substantial price hikes. Got my deposit back as soon as they said I could order.

      Reply
    2. Jordan

      There is no real economic incentive to EV owernership. Just like hybrids, you only “save” money over a protracted ownership period. For hybrids it is 5+ years, and EV estimates range from 6-10 years(as long or longer than real world battery life). The most economic solution is a good mileage 100% gas model. The same is true for ecological benefits, btw. At the time an EV surpasses an ICE, on pollution, the toxic battery is pretty well toast.

      Reply
      1. Ron

        I have had fords all my life I don’t like ev they want work ford has drove me away

        Reply
  3. Rick

    Get the government out of the tax rebate business on these EVs and let the market stabilize on these vehicles.

    Reply
  4. RCS

    My dislike for Ford’s business model is increasing.

    Reply
  5. Jordan

    I’m not surprised at all. With the drying up of 100% free government money to make these electric boondoggles. The price would likely be another $10k-$15k higher if there was zero public subsidization. Furthermore, battery prices are likely to continue rising, in spite of stupid arguments that they will magically become cheaper. Not only from subsidizing more expensive US production, but a Lithium and Cobalt market with demand massively outstripping supply.

    Reply
  6. Steven

    Corporate greed at its finest. I cancelled mine when it became evident they had no intention of filling my original order at $42,000. Why do that when they can sell it to someone else for $56,000 after I cancel it. Bums.

    Reply
  7. Deng Li

    Ford has destroyed brand loyalty by not honoring their commitment to customers who made a deposit in good faith.

    Reply
  8. Will Roche

    Looks like a Bait & Switch…..that will definitely hurt them in the long run…
    Just left me wondering what to expect when my 2022 Maverick ordered 9 months ago goes into production in late July!! If that agreed price is not honored….I WILL be holding out for a new Toyota Stout!! Customers listen and watch markets also…New Ford Customers may just be driven away by some other manufacturers that hold true to their word…an old fashioned practice that this “woke” world doesn’t understand!

    Reply

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