While new vehicle incentives of any kind were virtually non-existent for years following inventory shortages and strong demand, things are quickly changing as interest rates soar and demand cools off. In fact, we’ve seen vehicles like the Ford F-150 Lightning – a model that was impossible to find for quite some time at MSRP – receive some substantial discounts as of late, and even the refreshed 2024 Ford F-150, which doesn’t launch until next spring, already has a special financing deal as well. Now, 2023 Ford F-150 Lightning XLT order holders are being compensated if their orders weren’t filled as well, according to a dealer letter recently seen by CarsDirect.
This letter contains details on what is officially called the F-150 Lightning Transition Customer Satisfaction Program, which is intended to make up the difference in pricing between a 2023 Ford F-150 Lightning XLT and the equivalent 2024 model. However, it only applies to the XLT Standard Range model with Equipment Group 311A. Those that placed an order for that specific configuration will receive $2,500 toward their lease or purchase, making up for the XLT trim’s year-over-year price increase from $54,995 to $57,495.
Eligible customers can take advantage of this cash savings by placing a priority order for a 2024 F-150 Lightning, or – alternatively – they can also purchase or lease a 23MY from existing dealer stock. It’s a similar offer to the one Ford provided for 2022 Ford F-150 Lightning reservations holders with unfilled orders last year, who were eligible to receive a discount of up to $8,500 on a 2023 model.
Those that do choose to go with a 2024 F-150 Lightning will find that the pickup has received a few updates for the new model year, including the addition of the new Flash and Platinum Black variants. The EV pickup has also received a new standard heat pump across the entire range, while the Platinum B&O Unleashed Sound System has lost four speakers compared to the 2023 model year. Looking further down the road, the F-150 Lightning is expected to receive a new lithium iron-phosphate battery pack at some point in the 2024 model year, too.