Ford Motor is reducing prices for certain all-electric F-150 Lightning pickup trucks as it readies to resume shipping following quality concerns.
The affected models are set to ship later this month, priced $2,000 to $5,500 lower than previously, following a pause in shipments due to undisclosed quality issues in early February.
The most significant price drop is seen in the mid-level Flash trim, now priced $5,500 lower at $67,995. This is followed by a $2,500 reduction for Lariat models, now priced at $74,995, and a $2,000 decrease for XLT models, now priced at $62,995.
Prices remain unchanged for the entry-level Pro model at $54,995 and the top-end Platinum model at $84,995.
These price adjustments reflect ongoing changes in the electric vehicle market amid slower consumer adoption than anticipated. Ford’s adjustments come three months after it previously adjusted Lightning prices, which included increases for some models.
Ford Cheif Operating Officer, Kumar Galhotra said, “It’s part of the normal response to both where the marketplace is, our supply, and where our inventory sits … which we do all the time,” per the report from reporters from an event at Ford’s F-150 plant in Dearborn, Michigan.
Per the reports, Galhotra also added that “New technology like electric vehicles takes some time to find the right sweet spot and the balance.”
Regarding the issues causing the halt in shipments and the delayed release of gas and diesel versions of the F-150, Galhotra refrained from providing specifics. He mentioned ongoing software updates to detect and rectify any defects in the vehicles’ connected modules.
There were media released on Thursday, where Ford referred to its invention as an “unprecedented truck offensive,” adding that it assembles its substantial production of F-150 and Ranger pickups in the first quarter, with the majority being F-150 models, as part of its extensive truck production efforts.
Approx. 92% of the pickups built included pickup of F-150
However, having a large inventory can pose challenges for automakers, leading to increased costs and delays in deliveries to dealers and customers.
On April 4, Automotive News reported that Ford has reintroduced a controversial sales strategy known as stair-step programs, aiming to boost vehicle sales through dealer incentives tied to specific goals.
The report included that, since February, the automaker has reportedly incentivized dealers with increasing cash bonuses for surpassing monthly sales targets for the F-150. Despite requests for comment, Ford has not yet responded to inquiries about this program.
Last year, Ford faced delays in shipping its larger Super Duty pickups, which share a platform with the F-150, due to additional quality assessments following issues with recent launches, leading to recalls and significant warranty costs.
Per the reports, “We’re going to prioritize quality, always. These are very complex vehicles with complex launches. We want to take the time to make sure everything is good, everything is perfect,” stated Galhotra.
“And when we’re satisfied with the level of quality, then and only then we’ll start shipping to our customers.”
Ford has acknowledged that its warranty expenses create an annual cost disparity of $7 billion to $8 billion compared to its traditional rivals.
