What does the Price Rise for the Mustang Mean for You?

It's not easy to get your hands on a brand-new Ford F-150 Lightning that runs on electricity alone. The 2023 model year vehicle will debut, providing customers with a second chance. The F-150 Lightning, however, will be more pricey this time around. While the Ford EV's low starting price of $40,000 was a selling point, those days are over. The price of any 2023 Ford F-150 Lightning model, including the entry-level Lightning Pro, is now more than $48,000.

Ford, like many other manufacturers who have recently imposed significant price increases on electric vehicles, has cited growing expenses and supply restrictions as the reasons for the roughly 15% price increase. Despite price increases for other 2023 models, the 2023 Chevrolet Bolt EV had a roughly $6,000 price cut after battery fires delayed the release of the revised Bolt and bigger Bolt EUV. The price is around $27,000.

Electric vehicles from luxury-oriented electric companies like Tesla, Lucid, and Rivian have seen the most significant price increases. New-car buyers have become accustomed to paying unprecedented sums, with the average sale price surpassing $46,000 in August.

Due to overwhelming demand, Ford's online store has discontinued taking orders for the 2022 model year. When order banks reopen on Tuesday, AN claims that 2022 Mustang Mach-E order holders without a delivery date would be given a "private offer" to switch to the 2023 model year. Let’s dive in deeper to know the reasons of rising costs and if the Mustang Mach-E is no longer profitable for the carmaker

Why are Costs Rising?

Ford claims that supply and demand are equally at blame for price increases. But rising materials costs and other issues" are to blame. MT inferred that this was a reference to the effects of the global supply constraints and the Russian war in Ukraine on Ford's bottom line. And it's not too far from what rivals have done; Rivian, Tesla, and Lucid have all just increased their pricing for similar reasons.

But unlike other high-end businesses' flagship products, the Lightning Pro didn't break the bank. Priced at around $40,000, it was ideal for the typical American family. F-150 Lightning was a popular concept due of its low price. Is it too much to pay for an electric vehicle, even the cheapest model?

There is a Significant Increase in Price, But What do We Get for it?

Ford increased the range of its basic battery vehicles by 10 miles for the 2022 model year. The F-150 Lightning's standard range has been increased to 240 miles. In addition, the Lariat and Platinum now come standard with Pro Trailer Hitch Assist, which was previously only available as part of the Tow Technology package. The only other difference is a wider range of color selections. Adding a new package and a few more miles of range won't make up for the additional $6,000 in cost, however.

Ultimately, the revised prices for the 2023 Ford F-150 Lightning are disappointing. Consumers bear the brunt of price increases, and the electric truck loses some of its former market competitiveness as a result. It will be far more cost-effective to remain with gas-powered versions if the base price is below $40,000 and the price for increased range is substantially lower. How much do you think is too much to pay for a 2023 Ford F-150 Lightning Pro?