Ford couldn't keep it under $40,000 for long.
Ford has officially revealed pricing for the 2023 F-150 Lightning, and the news isn't great.
"Ford is adjusting the MSRP on the F-150 Lightning for the first time since it was revealed in May 2021 and has honored MSRP for all customer orders to date. Due to significant material cost increases and other factors, Ford has adjusted MSRP starting with the opening of the next wave of F-150 Lightning orders," the company said in a press release.
Automakers have struggled to keep up with inflation and other supply chain-related issues, and their only recourse is to increase prices for consumers. Tesla recently announced that its upcoming Cybertruck will cost more than the originally predicted $39,900 price, and it's not the only electric pickup that will no longer be available for under $40,000.
The F-150 Lightning Pro now starts at $46,974 (excluding delivery), a significant increase over last year's $39,974 MSRP. As a small consolation prize, the Standard Range battery pack is now rated at 240 miles (up from 230 miles). The XLT SR sees a price increase as well, up to $59,474 (from $52,974). For 2023, Ford will offer some new configurations that weren't available previously. For example, the Lightning Pro is now available with a Ford Pro Special Service Vehicle Package to transform it into a police truck.
Buyers can now get the XLT with the High package for $68,474 without getting the Extended Range battery pack. If you want the XLT High ER, it will set you back $80,974 (up from $72,474). The Lariat is available with the SR battery, priced at $74,474 (up from $67,474), while the Lariat ER costs $85,974 (up from $77,474). Finally, the Platinum is only available with the ER battery, priced at $96,874 (up from $90,874).
In addition to the above pricing changes, Avalanche Gray and Azure Gray metallic tri-coat replace Atlas Blue, Ice Blue Silver and Smoked Quartz Metallic. Pro Trailer Hitch Assist now becomes more widely available on Pro, XLT, and Lariat trims, or standard on certain Lariat trims and the Platinum trim.
"Current order holders awaiting delivery are not impacted by these price adjustments," Marin Gjaja, chief customer officer, Model e, confirmed. "We've announced pricing ahead of re-opening order banks so our reservation holders can make an informed decision around ordering a Lightning."
With these latest price increases, General Motors will now have the most affordable electric pickup when the Silverado EV arrives at $39,900. But if Ford and Tesla can't keep prices level, will GM also be forced to increase its MSRP? We'll have to wait and see.