2023 Ford F-150 Lightning price increases $7,000, tops out near $100,000

The 2023 Ford F-150 Lightning pickup truck receives its first price increase since launching last May, and it’s a steep one. Base Lightning Pro models jump from $41,669 to $48,769, including a $1,795 destination fee, while top Platinum grades with an extended-range battery increase $6,100 to $98,669, Ford disclosed Tuesday. 

Steep price increases have become commonplace for electric vehicles this year, with Rivian, Tesla, and Lucid bumping prices to cover material costs. Ford cited material costs and “other factors” in adjusting the Lightning’s MSRP when 2023 order books open on Thursday. Ford also noted that reservation holders who placed an order already but are still awaiting their trucks would not be affected by the price increases. 

“Current order holders awaiting delivery are not impacted by these price adjustments,” Marin Gjaja, chief customer officer, Model E, said in a statement. “We’ve announced pricing ahead of re-opening order banks so our reservation holders can make an informed decision around ordering a Lightning.”

Reservation holders who received an invitation to order but decided to wait because their desired truck trim wasn’t available will receive a private offer, Ford says.

It sounds like industry knowledge learned from the blowback when Rivian announced a price increase for reservation holders of the R1T pickup truck. Two days after the backlash, Rivian honored the pre-price increase of $12,000. Nearly every automaker has increased prices across the model line for the 2023 model year so far, but electric vehicles have seen the biggest sticker shock. On June 1, Lucid raised prices by $15,000 for its Air luxury sedan, and Tesla followed with at least its seventh price hike since 2020 across its EV lineup. 

The only automaker to buck the trend so far this year was Chevy, which slashed prices of the 2023 Chevrolet Bolt electric hatchback by nearly 20% to start at $26,595. 

The 17.5% price increase on the base Lightning Pro comes with an increased range from 230 miles to 240 miles with the standard 98-kwh battery pack. The base Pro is only sold to fleet customers for now, however. The standard-range battery can be had on the XLT for $61,269 (an increase of $6,600), and the Lariat for $76,269 ($7,100 more). 

Models with the 131-kwh extended-range battery pack with a 320-mile range estimate also get a price increase. The XLT High jumps $8,500 to $80,974, the Lariat to $85,974, and the Platinum extended range tops the lineup with a $6,100 increase to $98,669. 

The 2023 F-150 Lightning can be equipped with Ford’s Pro Trailer Hitch Assist that controls steering, braking, and throttle while hitching up a trailer. A police-ready Special Service Vehicle Package was announced at the end of July.  

Ordering for the sold-out electric pickup truck reopens Thursday.