Ford cuts F-150 Lightning Prices

[Logal727]

The only thing that depreciates in value faster than a car is technology (phones, computers, etc.) and this car is some part both. There were a few weird market conditions that made it possible for a while to buy and sell MMEs at a profit, but this was never a car that was going to appreciate in value long term (true of almost all production cars).

Never expect to make a profit on a depreciating asset. People who expect that aren’t living in reality.

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[SpaceEVDriver]

Cybertruck and Silverado are to thank for this.

Except they don't exist.

The Silverado is likely to make it to production and will ship in 2024, but there's no compelling reason to lower the price of an existing Lightning in response to a vehicle that's a year away from delivery.

The CT is likely to continue to be vapor for at least another six to twelve months; it won't go into production until 2024, at the earliest. There's definitely no reason to lower prices on the existing Lightning in response to vaporware when Ford will likely have a new model Lightning in production before the first CT even ships.

If Rivian was cutting prices, or the Hummer (ha!), then it might be reasonable to point to competition, but there isn't any direct competition reason to lower the price.

On the other hand, Ford has been talking up the reduction of their bill of materials cost for the Lightning, and aggressively increasing production (and lowering per-vehicle costs overall) for the last two quarters. And with this price cut, they've added another trim model to the tax credit eligibility, so it's suddenly around $15k more reasonable to purchase the extended range Lariat. It's still overpriced for me, but that's a massive incentive for some people and it probably only costs Ford about $3k to make that price cut (relative to a few months ago when their bill of materials was higher).

 

[Blue highway]

Except they don't exist.

The Silverado is likely to make it to production and will ship in 2024, but there's no compelling reason to lower the price of an existing Lightning in response to a vehicle that's a year away from delivery.

The CT is likely to continue to be vapor for at least another six to twelve months; it won't go into production until 2024, at the earliest. There's definitely no reason to lower prices on the existing Lightning in response to vaporware when Ford will likely have a new model Lightning in production before the first CT even ships.

If Rivian was cutting prices, or the Hummer (ha!), then it might be reasonable to point to competition, but there isn't any direct competition reason to lower the price.

On the other hand, Ford has been talking up the reduction of their bill of materials cost for the Lightning, and aggressively increasing production (and lowering per-vehicle costs overall) for the last two quarters. And with this price cut, they've added another trim model to the tax credit eligibility, so it's suddenly around $15k more reasonable to purchase the extended range Lariat. It's still overpriced for me, but that's a massive incentive for some people and it probably only costs Ford about $3k to make that price cut (relative to a few months ago when their bill of materials was higher).

CT production has started... https://fortune.com/2023/07/15/tesla-cybertruck-production-starts-elon-musk/

Rivian trucks can be had in 2 weeks.... https://www.teslarati.com/rivian-r1...ations have a delivery,2022 Truck of the Year.

Ford isn't just selling against vehicles you can get immediately, they are selling against promised products coming... especially if they are promised at a lower costs

 

[4sallypat]

My co-workers are getting the first batch of 1000: Fisker Ocean EVs

 

[superdave80]

All these price drops & inventory have been tanking our residual values on the Mach E ? trade in values are now garbage.

All vehicles depreciate like crazy, especially in the first few years. I don't understand all the complaints on this forum about price cuts, as if auto manufacturer should be at all concerned about the value of your vehicle.

 

[SpongeBad]

All vehicles depreciate like crazy, especially in the first few years. I don't understand all the complaints on this forum about price cuts, as if auto manufacturer should be at all concerned about the value of your vehicle.

Buying a mass-produced domestic car as an investment is such a bad idea that you'd probably get a better ROI on lottery tickets.

The majority of people on here (myself included) probably bought their cars during the supply chain challenges/massive inflation run-up, and overpaid to begin with because of those factors. It's a perfect storm of depreciation risk. I knew what I was getting into, and did not expect the value of the car to hold up. I just plan to drive it until it's a "classic", then maybe I'll sell it once it's an antique.

 

[fmtexmme]

demand is not dropping, sales of EVs overall is up ~50% year over year... again.

The demand is now divided over ~50 options vs ~5 a couple of years ago.

I think the best way to phrase it is the increase in production is outpacing the increase in demand.

 

[SpaceEVDriver]

CT production has started... https://fortune.com/2023/07/15/tesla-cybertruck-production-starts-elon-musk/

I don't consider anything said by that person to be reliable, so completely dismissed this when I saw it yesterday. Perhaps I'm wrong about this. I'll wait for the reviews to come back from owners.

 

[eleven24]

I'd suggest the price drops aren't due to demand drops, but rather having competing vehicles in the segment now. Namely Chevy & Cybertruck.

 

[moparguy]

give it another $10k drop and then you may start seeing some interest, my F150 was built and arrived two weeks ago, I did not buy it because I canceled it after the last price hike, I really wanted the $40k Pro, not the $60k Pro.

 

[AhardFSU]

I could be wrong, but maybe Ford took another look at the Lighting price range when the numbers from last showed that Rivian’s truck, which was in the same price range as some of the Lightings, had sold more trucks than the Lighting.

 

[ChasingCoral]

I guess you didn’t read post #1? Pro now starts at under $50K.

 

[azerik]

Won't fit in my current garage so I'm out. lol

 

[Say Watt]

A major factor is the high interest rate for any vehicle purchase. The manufactures have to adjust to the financial market.

There is always supply and demand. Part of the supply is charging options. I know a couple people who considered an EV but decided to wait until the charging network settled out. There are forum horror stories for every make concerning EA, CP, etc.

I noticed Elon is building massive charging complexes in Barstow and Kettleman City. When he starts handing out Tesla adapters, the non-Tesla market will realize they aren’t tied down to Electrify America with their whack-a-mole system.

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