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CNBC

PUBLISHED TUE, AUG 9 202211:06 AM EDTUPDATED TUE, AUG 9 20223:10 PM EDT



KEY POINTS
  • Ford Motor is increasing the starting prices of its electric F-150 Lightning pickup due to “significant material cost increases and other factors.”
  • The starting prices for the 2023 F-150 Lightning will now range from about $47,000 to $97,000, up between $6,000 and $8,500, depending on the model
  • Ford is the latest automaker to increase pricing of its newest electric vehicles amid rising inflation and commodity costs.
DETROIT – Ford Motor on Tuesday said it is increasing the starting prices of its electric F-150 Lightning pickup due to “significant material cost increases and other factors.”
The Detroit automaker said the price increases – between $6,000 and $8,500, depending on the model – will not impact customers who have ordered a vehicle and are awaiting delivery. They will affect an undisclosed number of reservation holders who have not yet ordered a truck.

The starting prices for the 2023 F-150 Lightning will now range from about $47,000 to $97,000, up from roughly $40,000 to $92,000 for the 2022 model year. Prices exclude taxes and shipping/delivery costs.

Ford is the latest automaker to increase pricing of their newest electric vehicles amid rising inflation and commodity costs. General Motors previously raised the price of its Hummer EV pickup by $6,250, while EV startups Rivian Automotive and Lucid increased the costs of their vehicles substantially more than that. Tesla also has raised pricing this year on its vehicles.

Raw material costs for batteries for electric vehicles more than doubled during the coronavirus pandemic, according to a recent report by consulting and research firm AlixPartners.

Ford’s pricing increases come ahead of the automaker on Thursday reopening ordering for the F-150 Lightning. The company late last year announced it had closed orders for the vehicle after receiving more than 200,000 nonbinding reservations for the truck.

It’s unclear how long customers will have to wait for a new truck after they place an order. Ford has only sold about 4,400 vehicles since beginning deliveries in May. A spokeswoman for the company said deliveries of new orders are scheduled to begin this fall.

Starting this fall, Ford on Tuesday also said the electric range of F-150 Lightning models with a standard battery is expected to increase by 10 miles to 240 miles. Trucks with a larger battery have a range of up to 320 miles.

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GFC’s are here to stay because of the money to be made and political steering to be created. If people think cars are expensive now. Haha
Yes indeed, there’s still a line up of folks wanting to buy new vehicles and manufacturers know it. Probably why there’s no rush to increase production too fast, even when chip supplies improve.
 

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Yes indeed, there’s still a line up of folks wanting to buy new vehicles and manufacturers know it. Probably why there’s no rush to increase production too fast, even when chip supplies improve.
Other than "Open Market System" so if "You Don't", doesn't mean that "Other Won't"

Face it, The Covid (Economic) shut down drove oil to -$5/barrel, then to $100/barrel, and now settling somewhere back to Normal. Just as 1 Manufacture, over producing Demand, trying to grab Market Share will once again turn to Incentive to help Days Supply, and the Cycle will start all over.
 

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Put a few of these "price adjustments" together and I've got a new Soul.
 

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Put a few of these "price adjustments" together and I've got a new Soul.
Well yes, but you wouldn't be saving the planet while doing so. I don't understand the complaining about BEVs. It took ICEmobiles a hundred and some odd years to almost render the earth's runaway population extinct. At these prices I boldly predict within twenty years BEVs will have us all fearing the next ice age. Did anyone every say stopping our extinction would be cheap? I know I didn't and don't recollect anyone else proclaiming as much either. So pony up and be proud.


They better figure out self driving which will shift us out of owning cars and paying a "taxi" fare when we need to order a car to go somewhere.
Whatever our servants figure out you can bet your bottom dollar (and top one too) that it will entail gently shifting you out of driving and into passenger status. Autonomously controlled or otherwise.
 

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Other than "Open Market System" so if "You Don't", doesn't mean that "Other Won't"

Face it, The Covid (Economic) shut down drove oil to -$5/barrel, then to $100/barrel, and now settling somewhere back to Normal. Just as 1 Manufacture, over producing Demand, trying to grab Market Share will once again turn to Incentive to help Days Supply, and the Cycle will start all over.
Thanks to Covid restrictions and chip shortage, all manufacturers were given the ultimate “what if“ situation with the market where all competitors were equally disadvantaged. Everyone was in the same boat and saw that buyers would pay higher prices. Now all of them can increase production, keep those higher prices and avoid excessive inventories. All the nonsense of over excess production mopped up by strong incentives is gone, never coming back and that would concern more than a few dealers and buyers.

Gas prices really didn’t start spiking until the Ukraine-Russia war and possible shortages. Yes, refineries down due to maintenance not done during Covid shutdown, yadda yadda yadda. Main point being that discretionary travel in Europ, USA and China dropped causing Oil Companies to drop their prices. A lot of that will be permanent loss of fuel sales in China because of their massive embrace of electric vehicles.
 
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