Ford reportedly hikes F-150 Pro price by 11% amid inflation concerns

Ford Motor Company F is reportedly raising its price of its electric truck F-150 Lightning Pro for its 2023 model by close to 11%, in a bid to soften the hit from ongoing supply chain snags and decades-high inflation, according to a spokesman for the company.

The report said that the price of the new model has gone up to $51,974 from $46,974 due to ongoing supply chain constraints, rising material costs, and other market factors. The report said the hike will not affect those who have already scheduled their order, including commercial and government customers.

How do I buy Ford Stock?

Why It Matters: Ford hiked prices for its F-150 Lightning line-up in August, for the first time since it was revealed last year, by $6,000 -- 8,500, depending on the variant, citing material cost increases and other factors.

TSLA, a EV giant, raised prices this year, citing inflationary pressure on raw materials and logistics.

Ford has unveiled its new 2022 Ford GT LM Edition, which is set to be the last model of the famous third-generation supercar.

The LM Edition will honor America's only Le Mans-winning supercar that has won wins in 2016 and the historic 1 - 2 - 3 podium sweep in 1966, depicted in the 2019 film Ford v Ferrari starring Matt Damon and Christian Bale.

Price Action: Shares of the automaker ended 1.21% higher on Wednesday, while it gained more than 5% in the last five days, according to data from Benzinga Pro.

What 10 Analyst Ratings Have To Say About Ford Motor?