Ford Reduces Prices of F-150 Lightning by $5,500
Ford Motor Company (NYSE: 
F) has recently taken steps to increase demand for its electric vehicles (EVs) by reducing the prices of certain F-150 Lightning trims by up to $5,500. The latest round of price cuts applies to the F-150 Lightning's mid-level variants and came into effect on April 5, 2024. According to a report by CarsDirect, the starting prices of the Lightning Pro Standard Range and Lightning Platinum Extended Range variants remained unchanged at $54,995 and $84,995, respectively.
Meanwhile, the starting prices of the F-150 Lightning XLT Standard Range and Lariat Extended Range were reduced by $2,000 and $2,500, respectively. The starting price of the F-150 Lightning Flash Extended Range was substantially reduced by $5,500, bringing the new starting price of the F-150 Lightning Flash trim to $67,995, which is closer to its launch price of $69,995.
The F-150 Lightning Flash trim offers a target EPA range of 320 miles, a 15.5-inch touchscreen, a B&O sound system with HD radio and speakers, and a wireless charging pad, making it a value for money. Additionally, the F-150 Lightning, with a manufacturer's suggested retail price below $80,000, is eligible for the full $7,500 federal tax credit in the United States.
In the first quarter of 2024, Ford (NYSE:F) sold 20,233 EVs in the United States, marking an 86% year-over-year increase. Sales of Ford's Mach-E rose 77% year over year, making it the second-best-selling electric SUV in the United States. The F-150 Lightning remained the best-selling electric pickup in the United States, with sales of 7,743 units.
The sales of EVs gained momentum after the automaker reduced prices of the Mach-E by up to $8,100 in February. Additionally, it offered substantial incentives on the F-150 Lightning. In January, Ford announced the prices of the F-150 Lightning for the model year 2024, increasing the prices of most trims from $2,000 to $7,500. The starting price of the F-150 Lightning Pro rose from $5,500 to $54,995.
Despite the increase in EV sales in the first quarter of 2024, the automaker announced a reduction in its workforce by one-third at its Rouge EV Center, where the F-150 Lightning is manufactured. The recent round of price cuts followed the launch of Ford's new 2024 Mustang Mach-E, which boasts better range, rapid charging, and quicker acceleration.
Technical Outlook
Despite the reduction in prices of the F-150 Lightning, Ford Motors (NYSE:F) is still trading slightly beneath the 200-day Moving Average (MA) with the Relative Strength Index (RSI) at 45.48 indicating low buying momentum from the bulls.
F) has recently taken steps to increase demand for its electric vehicles (EVs) by reducing the prices of certain F-150 Lightning trims by up to $5,500. The latest round of price cuts applies to the F-150 Lightning's mid-level variants and came into effect on April 5, 2024. According to a report by CarsDirect, the starting prices of the Lightning Pro Standard Range and Lightning Platinum Extended Range variants remained unchanged at $54,995 and $84,995, respectively.Meanwhile, the starting prices of the F-150 Lightning XLT Standard Range and Lariat Extended Range were reduced by $2,000 and $2,500, respectively. The starting price of the F-150 Lightning Flash Extended Range was substantially reduced by $5,500, bringing the new starting price of the F-150 Lightning Flash trim to $67,995, which is closer to its launch price of $69,995.
The F-150 Lightning Flash trim offers a target EPA range of 320 miles, a 15.5-inch touchscreen, a B&O sound system with HD radio and speakers, and a wireless charging pad, making it a value for money. Additionally, the F-150 Lightning, with a manufacturer's suggested retail price below $80,000, is eligible for the full $7,500 federal tax credit in the United States.
In the first quarter of 2024, Ford (NYSE:
F) sold 20,233 EVs in the United States, marking an 86% year-over-year increase. Sales of Ford's Mach-E rose 77% year over year, making it the second-best-selling electric SUV in the United States. The F-150 Lightning remained the best-selling electric pickup in the United States, with sales of 7,743 units.The sales of EVs gained momentum after the automaker reduced prices of the Mach-E by up to $8,100 in February. Additionally, it offered substantial incentives on the F-150 Lightning. In January, Ford announced the prices of the F-150 Lightning for the model year 2024, increasing the prices of most trims from $2,000 to $7,500. The starting price of the F-150 Lightning Pro rose from $5,500 to $54,995.
Despite the increase in EV sales in the first quarter of 2024, the automaker announced a reduction in its workforce by one-third at its Rouge EV Center, where the F-150 Lightning is manufactured. The recent round of price cuts followed the launch of Ford's new 2024 Mustang Mach-E, which boasts better range, rapid charging, and quicker acceleration.
Technical Outlook
Despite the reduction in prices of the F-150 Lightning, Ford Motors (NYSE:
F) is still trading slightly beneath the 200-day Moving Average (MA) with the Relative Strength Index (RSI) at 45.48 indicating low buying momentum from the bulls.
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