Holy smokes, the Ford F-150 Lightning just got a whole lot cheaper in the US

Ford’s been consistently raising F-150 Lightning prices in the US ever since the electric pickup went on sale, but this week, things took a turn for the better. The F-150 Lightning is now anywhere from $6,000 to $10,000 cheaper than before – and that’s before you factor in America’s $7,500 federal tax credit that applies to EVs built in the US.

The base Ford F-150 Lightning Pro now costs $51,990, including a mandatory $1,995 destination charge, which is a $9,979 price cut. The least-expensive XLT Extended Range has its price reduced from $80,869 to $71,990, and the fancy-pants Platinum Extended Range now costs $93,990 – a $6,079 reduction.

That’s all well and good, but don’t forget, Ford priced the F-150 Lightning from just $41,769 when it first went on sale in 2022.

So what allows Ford to reduce prices now? The carmaker says the price of the raw materials needed to build the trucks' batteries have decreased, and the plant where the F-150 Lightning is built has greater production capacity. Ford expects its Rouge Electric Vehicle Center to be able to crank out as many as 150,000 trucks annually after a few upgrades are installed this fall.

The F-150 Lightning is an incredible electric truck, offering 240, 300, or 320 miles of driving range depending on the trim level and battery size. It’s also one of the only games in town, save for the Rivian R1T, though a hot new rival, the Chevy Silverado EV, is coming very, very soon.

Ford says the F-150 Lightning’s price cuts apply for all 2023 model year vehicles, and the automaker hasn’t announced any details for 2024 just yet. Here’s hoping these numbers don’t creep up in the wrong direction again.