Ford Drops 2024 F-150 Lightning Prices By Up to $5,500

Laurance Yap
May 1, 2024
Ford is at it again, adjusting prices of its electric vehicles to keep up with shifting demand. This time, the popular F-150 Lightning electric pickup has received a round of cuts, with one of the most popular models now starting below $70,000 MSRP.
Ford F-150 Lightning Trucks

Lower Prices for Electric Ford Pickup

Much like Tesla, Ford has adjusted pricing of its electric vehicles so much that it’s sometimes hard to keep track. When it launched in 2022, the Ford F-150 Lightning generated a huge amount of demand – so much so that Ford had to stop taking orders to fill its backlog. That initial burst was followed by several price increases, which saw the popular electric pickup truck’s prices rise by many thousands of dollars in quick succession.

But, as Ford caught up with demand for the Lightning, and the new-vehicle market started to return to normal, F-150 Lightning sales slowed. The company responded by reducing some prices, as well as introducing the F-150 Lightning Flash model, which combined all of the most desirable features into a well-priced package.

Ford F-150 Lightnings being transported

F-150 Lightning Price Cuts

For the 2024 model year, as car buyers continue to face high interest rates and therefore higher monthly payments, Ford has responded by slashing prices for many F-150 Lightning models, bringing them within reach of more buyers. The biggest price cuts are reserved for the most popular model, the Flash, whose starting MSRP has been reduced by $5,500.

You could say that “the Flash has been slashed.”

If you’re shopping for an electric pickup truck, and the Tesla Cybertruck, with its outrageous styling and relatively small load bay, doesn’t suit your needs, the F-150 Lightning looks like a good choice. The Ram 1500 REV has yet to hit the market, and will likely start at close to $100,000 with its huge 200-plus-kWh battery, and the Chevrolet Silverado EV is also launching from the high end first, with a starting MSRP of $96,495.

Meanwhile, you have a choice of many different configurations for the F-150 Lightning:

  • F-150 Lightning Pro with standard range: starting MSRP of $54,995, unchanged
  • F-150 Lightning XLT with standard range: starting MSRP of $62,995, reduced by $2,000
  • F-150 Lightning Flash (extended range standard): starting MSRP of $67,995, reduced by $5,500
  • F-150 Lightning Lariat (extended range standard): starting MSRP of $76,995, reduced by $2,500
  • F-150 Lightning Platinum (extended range standard): starting MSRP of $84,995, unchanged
  • F-150 Lightning Platinum Black (extended range standard): starting MSRP $92,995, unchanged

Because it’s made in the U.S., with North American-sourced battery components, most trims of the F-150 Lightning are eligible for the $7,500 federal EV tax incentive whether you purchase or lease. The Platinum models, which have a starting MSRP of over $80,000, do not receive the rebate.

Which F-150 Lightning Trim Is Best?

While we love the luxurious interior trim of higher-end Lightning models, the F-150 Lightning Flash continues to remain the pick of the range for us. It packs all-wheel drive, the 131-kWh extended range battery, and the most-frequently ordered tech upgrades, such as a high-end Bang & Olufsen stereo, 15.5-inch central touchscreen, wireless phone charging, power-operated liftgate, towing package, and other safety and security items. The Flash has a heat pump, which is critical for colder climates, as it operates more efficiently than a conventional heater to warm the cabin.

The Flash also has Ford’s excellent BlueCruise “hands-free” driving technology. Available for use only on certain stretches of U.S. highway, BlueCruise can make long freeway stretches more relaxing by offering semi-automated driving. It can even perform automated lane changes, allowing the Lightning to automatically change lanes when the driver taps the turn signal.

Ford F-150 Lightning vs. the Competition

Now on the market for close to three years, the F-150 Lightning is no longer a game changer, and some of its on-paper specs lag behind newer competitors. For instance, the EPA-estimated range for trucks with the extended-range battery is 320 miles – significantly less than the Silverado EV; its 155-kW charging speed isn’t class-leading either.

That said, the F-150 Lightning is significantly lighter and more nimble than the Silverado EV, as well as the upcoming Ram 1500 REV. Both the Chevy and the Ram pack batteries with over 200 kWh – extending their range past 400 miles but adding hundreds of pounds of weight, which compromises efficiency and payload. If you don’t regularly use your pickup for long-distance drives, and are able to charge at home, the Lightning is a smart choice. From the way it looks to the way it drives, it offers owners an easier transition to electric, at a lower cost.

Like all 2024 Ford models, owners can now access the Tesla Supercharger network across North America in addition to the over 17,000 high-speed chargers already available to it. Ford is now shipping complimentary plug adapters to Lightning owners, which will make road trips more convenient than before.

Better charging access, plus better pricing, should help the F-150 Lightning remain one of the top-selling electric vehicles in the U.S.

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