EV Grumblings – Ford Cuts 2024 F-150 Lightning Prices

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Ford Motors (NYSE: F) said today that online orders are open for the 2024 Ford F-150 Lightning trucks, now shipping from the Rouge Electric Vehicle Center. In January Ford dropped a shift at Rouge because of weak demand for the Lightning, the top-selling electric pickup in the US. Competition is reducing demand and trimming margins. There was also another interruption in production for unspecified quality issues. The previously announced MSRP of the 2024 F-150 Lightning is being reduced [footnote 1]. The so-called F-150 Lightning Flash™, is now available with a starting MSRP [2] under $70,000, and comes with an extended-range battery.

Ford of course is hemorrhaging red ink in its EV business as Tesla (Cybertruck), GM (Chevy, Cadillac Lyric SUV, GMC Sierra, Hummer) and Stellantis – (electrified Jeeps) increase theirs. Ford’s EV business – Model e – lost $1.3 billion on electric vehicles even though it reported 44% higher shipments of electric vehicles, and 26% revenue growth during Q3 of 2023.*

 Changes for 2024 Model  Year

• A Vapor Injection Heat Pump System to help optimize energy consumption, especially in colder weather conditions. Ford’s heat pump system uses vapor injection in both heating and cooling modes to help optimize system performance in various ambient temperatures.
• Updated charging speed display on the instrument cluster so that customers can see charge status and speed of charge instantly, including an estimated finished charge time.
• Tow Technology Package become standard on XLT and above trims, providing Smart Hitch and On-Board Scales. Also included: 360 Degree Camera, Pro Trailer Backup Assist™, Pro Trailer Hitch Assist ™ and Trailer Reverse Guidance.
• Pro Power Onboard that works even while the truck is off for enhanced productivity.
• Walk Away Lock functionality.
• Ford BlueCruise hands-free highway driving is optional on select trims. New items will be available on Lightning including Lane Change Assist, allowing the driver to switch lanes hands-free with a tap of the turn signal when the path is clear, and In-Lane Repositioning, which helps provide more space by subtly shifting away from vehicles in adjacent lanes

Inevitable Ford Footnotes

[1] MSRP may not represent the actual price at which vehicles are sold in this trade area

[2] New manufacturer suggested retail prices. excludes destination/delivery fee plus government fees and taxes, any finance charges, any dealer processing charge, any electronic filing charge, and any emission testing charge. optional equipment not included. MSRP may not represent the actual price at which vehicles are sold.

AutoInformed on

• Ford Motor Posts 2023 Net Income of $4.3 Billion
• Ford Stumbles on EVs – Two Year Delays on Three-Row Entries
• Ford Cuts F-150 Lightning Production. Ups Bronco and Ranger
• *Ford Motor 2023 Q3 Net income $1.2 Billion