Ford
F 1.99%
Motor Co. has again raised the starting price of its all-electric F-150 Lightning truck, after temporarily halting production and shipments to address a battery issue.
The cheapest of the company’s electric trucks now costs $59,974, marking the latest in a series of price increases since the full-size, battery-powered pickup trucks began rolling off Detroit assembly lines in April of last year. At that time, the starting price was roughly $40,000. By August, it had jumped to $46,974. In October, Ford executives raised it to $51,974, and in December, it increased to $56,000.
The company has attributed the price increases to the rising costs of raw materials.
Ford sold 15,600 Lightnings in 2022, and 3,600 through February of this year. The company said it wants to increase output to an annualized rate of about 150,000 vehicles by late this year.
The price of the Lariat Standard Range version of the car rose from $74,474 to $75,974, and the Platinum went from $96,874 to $98,074. A spokesman said the price increases were “in response to current material costs, market factors, and supply chain constraints.”
The company halted production and shipments of the F-150 Lightning in February to address a potential battery issue. A truck at a Ford holding facility caught fire on Feb. 4 during a pre-delivery quality check.
The company resumed production after five weeks but didn’t disclose specifics about the cause of the fire or findings from the investigation. On Thursday, the company said it had resumed full production.
Ford executives have previously said supply-chain problems and quality concerns have at times hampered Ford’s goals and weighed on earnings. The Dearborn, Mich., company outspent rivals by about $1 billion last year on warranty claims, the company’s finance chief said in February.
Write to Talal Ansari at talal.ansari@wsj.com
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Ford
F 1.99%
Motor Co. has again raised the starting price of its all-electric F-150 Lightning truck, after temporarily halting production and shipments to address a battery issue.
The cheapest of the company’s electric trucks now costs $59,974, marking the latest in a series of price increases since the full-size, battery-powered pickup trucks began rolling off Detroit assembly lines in April of last year. At that time, the starting price was roughly $40,000. By August, it had jumped to $46,974. In October, Ford executives raised it to $51,974, and in December, it increased to $56,000.
The company has attributed the price increases to the rising costs of raw materials.
Ford sold 15,600 Lightnings in 2022, and 3,600 through February of this year. The company said it wants to increase output to an annualized rate of about 150,000 vehicles by late this year.
The price of the Lariat Standard Range version of the car rose from $74,474 to $75,974, and the Platinum went from $96,874 to $98,074. A spokesman said the price increases were “in response to current material costs, market factors, and supply chain constraints.”
The company halted production and shipments of the F-150 Lightning in February to address a potential battery issue. A truck at a Ford holding facility caught fire on Feb. 4 during a pre-delivery quality check.
The company resumed production after five weeks but didn’t disclose specifics about the cause of the fire or findings from the investigation. On Thursday, the company said it had resumed full production.
Ford executives have previously said supply-chain problems and quality concerns have at times hampered Ford’s goals and weighed on earnings. The Dearborn, Mich., company outspent rivals by about $1 billion last year on warranty claims, the company’s finance chief said in February.
Write to Talal Ansari at talal.ansari@wsj.com
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8