The F-150 Lightning will be shown at the New York International Auto Show on March 28, 2024.
Danielle Defries | CNBC
DEARBORN, MICHIGAN —” ford motor The company is lowering the starting prices of some all-electric F-150 Lightning pickup trucks as it prepares to resume shipping the vehicles after quality issues.
Inline models are expected to ship later this month for $2,000 to $5,500 less than before the automaker halted shipments due to undisclosed quality issues in early February.
The biggest price drop is on the mid-level Flash model of the pickup truck, now down $5,500 to $67,995. This was followed by a $2,500 discount on Lariat models, now priced at $74,995, as well as a $2,000 discount on XLT models, with a new price of $62,995.
Prices are unchanged on the entry-level Pro model at $54,995 and the high-end Platinum model at $84,995.
The cost cuts are the latest changes in electric vehicle pricing for the broader auto industry amid slower-than-expected consumer adoption. Ford's reductions come three months after Lightning prices were revised, including increasing prices for some models.
“It's part of the natural response to both where the market is and where our supplies are and where our inventory is…which we do all the time,” Ford Chief Operating Officer Kumar Galhotra told reporters on the sidelines of an event at its VFC headquarters. -150 factories in Dearborn, Michigan. “New technology like electric vehicles takes time to find the right place and balance.”
The new Ford F-150 truck rolls through the assembly line at the Ford Dearborn plant on April 11, 2024 in Dearborn, Michigan.
Bill Puliano | Getty Images
Galhotra declined to comment on the nature of the problems that caused the shipping holdup as well as why gas and diesel versions of the F-150 were held up for months after production began. In general, he said, engineers are constantly writing software on vehicle modules, which are all linked to modems, to detect any anomalies and identify faults.
“There were some small issues,” Galhotra said. “Once we figure it out, we fix it and then we ship it. … We try to find everything we can.”
In media materials released Thursday, Ford cited what it called an “unprecedented truck onslaught,” saying it had assembled 144,000 full-size F-150 pickup trucks and midsize Rangers during the first quarter that are making their way to dealers and customers. . Nearly 92% of pickup trucks built were F-150s.
Having a large number of vehicles is not a good thing for an automaker. This means more costs on their books and delivery delays for merchants and customers.
Ford has revived a controversial practice of goal-based incentives for dealers called ladder step programs to boost vehicle sales, Automotive News reported on April 4. Since February, the automaker, which did not immediately respond to a request for comment on the program, has offered retailers escalating cash bonuses if they meet and exceed monthly F-150 sales goals, Automotive News reported.
Ford also delayed shipments of last year's Super Duty pickup trucks, which are a sibling to the F-150, by several months to conduct additional quality inspections and checks in the wake of issues with recent launches that led to recalls and higher warranty costs.
“We will always prioritize quality. These are very complex vehicles with complex launch processes. We want to take the time to make sure everything is perfect, everything is perfect,” Galhotra said. “And only when we are satisfied with the quality level will we start shipping to our customers.”
Ford said its warranty costs contribute to $7 billion to $8 billion a year in costs compared to its traditional competitors.
Correction: Automotive News released its report on Ford's goal-based incentives on April 4. An earlier version of this article got the date wrong.
