Ford on Monday introduced sharp worth cuts throughout its F-150 Lightning lineup.

The cuts come after 4 worth hikes in row and see the electrical truck now priced from $51,990. That is down $9,979 from earlier than however nonetheless up $10,321 from when the F-150 Lightning entered manufacturing in April 2022.

The beginning worth is for the F-150 Lightning Professional, the model designed for business use. For retail prospects, the Professional comes solely with the Commonplace-Vary battery with an estimated 240 miles of vary. Nonetheless, the Professional is offered out to retail prospects for the rest of the 2023 mannequin 12 months, a Ford spokesman advised Motor Authority.

It means retail prospects must improve to the F-150 Lightning XLT. It’s now priced from $56,990, down $9,479 from earlier than, when geared up with the 240-mile Commonplace-Vary battery. A 320-mile Prolonged-Vary battery is accessible for an additional $15,000, bringing the beginning worth as much as $71,990, down $8,879 from earlier than.

Additional up, the Lariat with the Commonplace-Vary battery begins at $71,990 and with the Prolonged-Vary battery at $79,490, down $6,979 and $8,479, respectively. The range-topping Platinum now begins at $93,990, which is down $6,079 from earlier than.

All figures embrace a $1,995 vacation spot cost, and most Lightning fashions are eligible for $7,500 in potential Inflation Discount Act tax credit, based on Ford.

The spokesman stated the brand new pricing is efficient instantly for vehicles being delivered from right this moment. It means anybody that has already positioned an order and remains to be ready on their truck will obtain the brand new pricing.

Ford stated it was in a position to make the newest worth cuts attributable to improved economies of scale on the truck’s Rouge plant in Dearborn, Michigan. The plant is at the moment closed as Ford makes some remaining upgrades after which it should have a focused annual run fee of 150,000 vehicles beginning within the fall.

The newest cuts are additionally attributable to improved battery uncooked materials prices, Ford stated.

“Shortly after launching the F-150 Lightning, quickly rising materials prices, provide constraints and different components drove up the price of the EV truck for Ford and our prospects,” Marin Gjaja, chief buyer officer of Ford Mannequin E, stated in an announcement. “We’ve continued to work within the background to enhance accessibility and affordability to assist to decrease costs for our prospects and shorten the wait instances for his or her new F-150 Lightning.”