Ford is an American automaker that’s well-known for its trucks, and like many other automakers, the Detroit-based company has committed to making the switch over to EVs. That commitment applies to the pickup truck segment too, and that’s why the company recently released the F-150 Lightning, which is an EV version of the popular full-size pickup truck. On top of that, Ford decided to give the F-150 Lightning price cuts of a significant nature, and here’s a look at what that means for drivers.

Here’s how much the Ford F-150 Lightning prices have changed

Ford debuted the F-150 Lightning back in the Spring of 2022, and as Ford Authority wrote, it had a shockingly affordable starting price tag of less than $40,000. That base price tag made the Lightning more affordable than many EVs and about as affordable as a regular, brand-new pickup truck. For context, the starting price tag for the regular F-150 is about $35,000 right now.

That was the price tag that the Lightning debuted with, but it proved to be a popular option for car shoppers. On top of that, Ford, as well as most other automakers, was hit by a lot of production issues in 2022, and those issues affected the Lightning too. Due to the high demand but low supply, Ford raised Lightning prices several times. As recently as July 2023, the base Lightning was priced at $60,000, a stark increase from its original price point.

But like many other EV automakers, Ford eventually decided that the Lightning’s price was too high. On July 17, 2023, the company slashed almost $10,000 from the Lightning’s base price tag, and it now starts at about $50,000. The other trims saw significant price cuts, though they were smaller. For example, the top Platinum trim saw a $6,000 price cut and it now goes for $92,000.

Ford made these F-150 Lightning price changes for some good reasons

It’s perfectly logical to raise prices when there’s high demand for a product but not enough supply going around. The opposite is true, though. As Ford’s production problems eased, more Ford F-150 Lightning models were rolling off the lot. With the supply of trucks growing, it made sense for Ford to cut prices so that drivers can actually get their hands on a car.

But, as Ford Authority wrote, there’s another economic reason for these recent price cuts. It’s no secret that EVs are expensive right now, but a lot of shoppers who were interested in the Lightning were likely attracted to its original price tag. When Ford raised the Lightning’s price tag, that ultimately made the truck a less attractive option. As such, many folks who ordered the truck canceled their orders. These price cuts will help retain those orders.

This is a smart move by Ford but a neutral move for drivers

At the end of the day, Ford is a corporation that’s looking to make the most money possible. It was a logical business decision to release the Lightning at a shockingly low price point as a way to get people’s attention. It made sense to raise the truck’s price tag when demand was high but supplies were low. And it also made sense to give the Lightning price cuts now that production levels have normalized. 

But for drivers, these moves have been neutral overall. The truck itself has not changed that much from its original debut model year to now, but its price tag has changed a lot. It was abundantly clear that Ford’s price increases were too much. These price cuts help, but most drivers would’ve preferred the original $40,000 price tag.