Ford today announced the company will soon open up the order banks for the next wave of reservation holders, allowing those to configure their vehicles and lock in a specific build. Normally, that would be met with joy and excitement for the lucky Lightning reservation holders included in this next wave.
While many will still be happy when they receive the email from Ford to convert the reservation into an order, they will first have to swallow a bitter pill before clicking order and sending their chosen dealer the $500.00 required down payment. That pill comes in the form of a roughly $7,000 to $8,000 price increase on all versions of the F-150 Lightning.
Ford cites "significant material cost increases and other factors" as the reason they needed to adjust the price upward. It's also important to point out that customers that have already placed their orders and are awaiting delivery will not be affected by the price increase.
“Current order holders awaiting delivery are not impacted by these price adjustments,” Marin Gjaja, chief customer officer, Model e, said. “We’ve announced pricing ahead of re-opening order banks so our reservation holders can make an informed decision around ordering a Lightning.”
We knew this was coming at some point after our exclusive interview with Ford's VP of the Model e division, Darren Palmer, last week. However, we didn't expect it to happen this soon. During the interview (@25:57) Palmer talks about how Ford is going to have to react to the current commodity shortages and price increases.
|Model||Original Price||New Price|
|Pro Standard Range||$39,974||$46,974|
|XLT Standard Range||$52,974||$59,474|
|XLT High Extended Range||$72,474||$80,974|
|Lariat Standard Range||$67,474||$74,474|
|Lariat Extended Range||$77,474||$85,974|
|Platinum Extended Range||$90,874||$96,874|
*Note: Above prices exclude the Lightning destination charge of $1,795
However, today's announcement wasn't all bad news. Starting this fall, F-150 Lightning with the standard range battery, (available on all trim levels except for Platinum) will have a ten-mile increase in EPA-rated range.
Currently, F-150 Lightning with the standard range battery has a combined EPA range rating of 230 miles per charge. Ford expects that range rating to increase to 240 miles once EPA range certification is finalized.
Ford explains it was able to improve the range rating by including heated seats as standard equipment, enabling a reduction in the HVAC load on the battery while maintaining passenger comfort.
Ford is also adding pro trailer hitch assist to the tow technology package. Pro trailer assist is an industry-first for this technology, and automatically controls steering, throttle, and brake inputs to make hitching trailers easier.
Current Lightning owners that have the tow technology package will get the feature through an OTA software update.
Gallery: 2022 Ford F-150 Lightning: First Drive
Additional announcements in today's release are changes to available colors for the Lightning. Starting this fall, Ford is dropping Atlas Blue, Ice Blue Silver, and Smoked Quartz Metallic and adding two new colors: Avalanche Gray and Azure Gray.
Also, the new Ford Pro Special Service Vehicle Package (SSV) will officially be available for order on F-150 Lightning Pro models for fleet customers.
Sign of the times
Nobody likes price increases, but we believe this was inevitable considering the current upward pressure and limited availability of commodities. It's just a shame it had to happen so soon after Ford began delivering Lightning.
Ford announced F-150 Lightning pricing 15 months ago in May of 2021, and during that time we've seen the cost of electric vehicles from a variety of manufacturers go up significantly. You don't need to look any further than what Tesla and Rivian were recently forced to do to understand the unprecedented times we're in with regard to the rapidly increasing costs that all electric vehicle manufacturers are experiencing.