F-150 Lightning price hikes may not affect customers

Ford F opened the order banks for the next wave of F-150 Lightning reservation holders today, though fans of the electric pickup may be in for a bit of sticker shock.

Ford increased the prices of the F-150 Lighting across the various trim levels on the offer, due to significant material cost increases and other factors.

The Lightning Pro, which was once priced at $39,974 has now seen its price go up $7,000 to $46,974 for its base model. The XLT High Extended Range and Lariat Extended Range trims saw the highest price hikes of $8,500, with each costing $80,974 and $85,974 respectively. The Platinum Extended range saw the smallest price hike of $6,000, though it now retails for $96,874.

Here is the updated pricing for all trims of the F-150 Lightning:

Marin Gjaja, Ford Model e chief customer officer, said current order holders who are awaiting delivery are not affected by these price adjustments. We have announced pricing ahead of the re-opening of order banks so that reservation holders can make informed decisions about ordering a Lightning. All reservation holders are now subject to the new prices going into effect today. Ford said that reservation holders who previously received an invitation to order but decided to extend their reservation because the trim they wanted wasn't unavailable will receive a private offer for use in upcoming waves. It sounds like Ford may be able to reduce pricing for some of the reservation holders.

Ford Lightning buyers will see the EPA-estimated range climb 10 miles to 240 miles beginning in the fall, as Ford said that those models with the standard range battery will see the EPA-estimated range climb 10 miles to 240 miles. The extended range battery will stay the same at 300 miles.

Ford isn't the only one in the industry with regards to hiking prices. Ford's competitors like Tesla TSLA and Rivian RIVN have both raised prices for their electric offerings as costs for battery materials and other critical components like wiring harnesses have skyrocketed as a result of COVID-related supply constraints and the war in Ukraine.

It remains to be seen if Ford customers will be in an uproar over the price hikes like Rivian reservation holders. Ford's stock is slipping lower today in midday trade, underperforming the broader market.