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2023 Ford F-150 Lightning: Massive Price Increases, Same High Value

Compared to the 2022 model year, the pickup hasn't changed much, but prices changed a lot.

Mark Kane

By: Mark Kane

Feb 22, 2023 at 12:30pm ET

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Continuing our overview of the all-electric vehicles available in the United States, let's take a look at the 2023 Ford F-150 Lightning pickup truck.

The electric F-150 represented an outstanding value proposition when launched (for those who placed pre-orders quickly and were fortunate to receive their vehicle). But those extraordinary good times are already behind us.

The 2023 Ford F-150 Lightning is still a very good all-electric truck, with basically the same features, including an all-wheel-drive powertrain, big battery, and solid range, just like in 2022, but prices increased.

Range

The official EPA combined range of the Ford F-150 Lightning varies between 240 to 320 miles (240 miles in the case of the Standard Range battery and 300-320 miles in the case of the Extended Range battery):

2023 Ford F-150 Lightning Pro/XLT/Lariat SR: 240 miles (386 km)
10 miles more than in the case of the 2022 model year version
2023 Ford F-150 Lightning Pro/XLT/Lariat ER: 320 miles (515 km)
2023 Ford F-150 Lightning Platinum ER 22-inch: 300 miles (483 km)

Energy consumption of the trucks (all versions) is exactly the same as in 2022, which indicates that the switch from 230 miles to 240 miles was just some kind of tweak.

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Overall, users should expect roughly 500 watt-hours per mile (310 Wh/km), including charging losses, in the EPA combined test cycle. When driving on a highway, energy consumption might increase by some 10 percent, according to the rating.

Of course, when towing, energy consumption might double, while the range might be cut in half.

2023 Ford F-150 Lightning Pro/XLT/Lariat SR

2023 Ford F-150 Lightning SR :: EPA Range rating by InsideEVs
[Electric Vehicle 2-cycle label] Combined
City
Highway 240 miles (386 km)
N/A
N/A EPA Energy consumption (including charging losses): Combined
City
Highway 68 MPGe: 496 Wh/mi (308 Wh/km)
76 MPGe: 443 Wh/mi (276 Wh/km)
61 MPGe: 552 Wh/mi (343 Wh/km)

2023 Ford F-150 Lightning Pro/XLT/Lariat ER

2023 Ford F-150 Lightning ER :: EPA Range rating by InsideEVs
[Electric Vehicle 2-cycle label] Combined
City
Highway 320 miles (515 km)
350.2 miles (563.5 km)
283.1 miles (455.5 km) EPA Energy consumption (including charging losses): Combined
City
Highway 70 MPGe: 481 Wh/mi (299 Wh/km)
78 MPGe: 432 Wh/mi (269 Wh/km)
63 MPGe: 535 Wh/mi (332 Wh/km)

2023 Ford F-150 Lightning Platinum ER 22-inch

2023 Ford F-150 Lightning Platinum ER 22-inch :: EPA Range rating by InsideEVs
[Electric Vehicle 2-cycle label] Combined
City
Highway 300 miles (483 km)
326.5 miles (525.3 km)
267.6 miles (430.6 km) Additional info: "Combined range voluntarily lowered from 303 miles" EPA Energy consumption (including charging losses): Combined
City
Highway 66 MPGe: 511 Wh/mi (317 Wh/km)
73 MPGe: 462 Wh/mi (287 Wh/km)
60 MPGe: 562 Wh/mi (349 Wh/km)

Prices

Prices of the Ford F-150 Lightning increased a few times (as well as the destination charge), which was described in August 2022, and in October 2022. Now the prices seem to be more reasonable, compared to the value of the vehicle, the overall market situation (truck prices, costs), and the balance between supply and demand.

Today, prices start at $55,974 (+$1,895 of destination charge), which is $16,000 (or 40 percent) more than in the beginning.

The F-150 Lightning XLT ER starts at an MSRP of $80,974, so $8,500 (or 12 percent) above the initial price, while the top-of-the-line Platinum cost $96,874 ($6,000 or 7 percent more).

In general, it seems that there is a trend that the price increase is lower for the more expensive versions. Part of the reason might be the change in the federal tax credit - only models under $80,000 are eligible for the $7,500 incentive. Besides that, the more expensive trims are usually more profitable and do not require changes as much as the very affordable entry-level versions.

Anyway, from the customer's perspective (deducting federal tax credit and the destination charge), the 2023 Ford F-150 Lightning Pro SR starts effectively at $50,369, which is $16,200 or 47 percent more than initially ($34,169).

In the case of the XLT ER version (initially $66,669), the effective difference also is $16,200 (or 24 percent), because the price cap eliminates the eligibility for the $7,500 federal tax credit.

The Platinum version's effective price is $13,700 or 16 percent higher, compared to $85,069 initially.

The Lightning Pro ER (previously offered only for fleet) is not listed on the company's website, so we left an empty space. Initially, it was offered at an MSRP of $49,974.

Model Base Price Dest. Charge Tax Credit Effective Price 2023 Ford F-150 Lightning Pro SR 18-inch $55,974 +$1,895 $7,500 $50,369 2023 Ford F-150 Lightning Pro ER (fleets) 18-inch 2023 Ford F-150 Lightning XLT SR 18-inch $63,474 +$1,895 $7,500 $57,869 2023 Ford F-150 Lightning XLT ER 20-inch $80,974 +$1,895 N/A $82,869 2023 Ford F-150 Lightning Lariat SR 20-inch $74,474 +$1,895 $7,500 $68,869 2023 Ford F-150 Lightning Lariat ER 20-inch $85,974 +$1,895 N/A $87,869 2023 Ford F-150 Lightning Platinum ER 22-inch $96,874 +$1,895 N/A $98,769

Basic specs

Model Drive Battery
(kWh) EPA
Range 2023 Ford F-150 Lightning Pro SR 18-inch AWD 98*
(net) 240 mi
(386 km) 2023 Ford F-150 Lightning Pro ER (fleets) 18-inch AWD 131*
(net) 320 mi
(515 km) 2023 Ford F-150 Lightning XLT SR 18-inch AWD 98*
(net) 240 mi
(386 km) 2023 Ford F-150 Lightning XLT ER 20-inch AWD 131*
(net) 320 mi
(515 km) 2023 Ford F-150 Lightning Lariat SR 20-inch AWD 98*
(net) 240 mi
(386 km) 2023 Ford F-150 Lightning Lariat ER 20-inch AWD 131*
(net) 320 mi
(515 km) 2023 Ford F-150 Lightning Platinum ER 22-inch AWD 131*
(net) 300 mi
(483 km)

* available battery capacity

More about Ford F-150 Lightning

2022 Ford F-150 Lightning Pro: InsideEVs 70 MPH Range Test

2022 Ford F-150 Lightning: InsideEVs 70 MPH Range Test

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