The Ford F-150 Lightning is Ford’s electric vehicle (EV) flagship. The gasoline-powered version has been the top-selling vehicle in America for 40 years. This gives Ford a large potential customer base. However, the Lightning is expensive; a high-end version can cost $100,000. (These are the worst new cars for humans and the environment.)
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Ford has raised the price of the base version of the Lightning four times in the past year and a half. It blames the costs of components, which is an argument probably lost on most buyers. Ford also has had several production problems, which it says are now behind it.
To date, Ford has only sold a few Lightnings, but it has geared up manufacturing to a level that can make 150,000 a year by the end of 2023. A challenge for Ford and other companies that have entered the EV market is that many Americans say they will not buy an EV when they get their next cars.
The F-150 Lightning comes in four models. The base price for the Pro is $59,974, while the base prices for the XLT and Lariat are $64,474 and $76,974, respectively. For the high-end Platinum, the base price is $98,074. With a few accessories, this rises above $100,000.
Is there a market for a $100,000 pickup? Yes. Almost certainly, though, Ford can sell only a few thousand a year at that price point. The real question is how many Pro models it can sell. The base price for the gasoline-powered F-150 is $33,695. There are two other gas-powered F-150s prices below the Lightning Pro.
24/7 Wall St.Ford’s push to sell the Lighting has another hurdle. A price war has started among the EV makers. Tesla started its, probably as a way to keep market share. As other huge companies jockey for position, the EV price war will not disappear. Nevertheless, some people somewhere (likely very rich) will pay $100,000 for an electric pickup.
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Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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