F150 Lightning gets nearly $10K in price cuts

[fhteagle]

Pro still says sold out on the website. Still no Pro ER to the public. Still saying hard pass.

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[Sgt Beavis]

The battery isn’t the problem, the new 2023 income limit for tax credit is the real issue.

adjusted gross income (AGI) may not exceed:

• $300,000 for married couples filing jointly
• $225,000 for heads of households
• $150,000 for all other filers

I just barely squeezed by last year (though it really didn't apply on the old tax credit). I'd be under it for sure this year. It's been a soft year in sales. Mostly because last year was bonkers.

Pro still says sold out on the website. Still no Pro ER to the public. Still saying hard pass.

It's a unicorn.

 

[jjswan33]

For an adventure truck the F150 is still a hard pass from me. These lower prices may appeal to the work truck crowd and the mid west but the % of buyers cross shopping with a Rivian long term I suspect is small.

 

[DuoRivians]

Ford’s brand is meh to me. I wouldn’t ever consider buying a Ford. These price cuts are as meaningful as saying price cuts at Old Navy. I just don’t shop there.

 

[Donald Stanfield]

This is a big swing for some people here with the Ford being eligible for the tax credit. The tax credit isn't a factor for me and personally i am still upset over how Ford and their dealers behaved during the crunch with all their ADMs.

I get how the price drop is a big factor for many people but I would rather pay a little more now to go with a manufacturer that didn't scalp people for the past few years. I personally hope Ford and their dealers choke on all that stagnant inventory and the money they lose is more than the extra gained by their antics.

 

[WSea]

I think Ford has just delivered a pretty serious blow to Rivian with this price cut. All but one of their F-150 Lightning trims now qualifies for a $7,500 tax credit. So, essentially, they lowered their prices by up to $17,479 on some of their trims and by significantly more than $10,000 on all trims but one. Lariat Extended Range is the trim I would personally be interested in if I were shopping for a truck; with a tax credit, it's $69,995 compared with $85,974 yesterday.

I'd say Rivian execs are spending some quality time in pretty gloomy board meetings right now.

Another important point here is that we now have a baseline upon which Tesla will price the CyberTruck in less than 2 months. It looks like a tri-motor extended range may very well be priced at $79,990 (to qualify for the Federal Tax Credit) as I've been predicting for over a year now, and the lowest trim dual-motor standard range may be priced at $49,990 to compete with the lowest trim F-150 Lightning.

No way the CT is that cheap nor less than the X

 

[RWerksman]

Looking back, the F150 Lightning launch has been pretty terrible for Ford.

When they initially announced the product, and they associate the pricing for her, there weren't many many people who were on board. Folks, such as myself, who put down $100 to hold their place in line. They had what everybody hopes for when they launch a new product - excitement about it.

Flash forward a year or so, Ford has raised the prices by over $10,000. They lost the $7500 tax credit on most of their lineup. That was a nearly $20,000 swing for folks if you factor in some fudge for the dealer markup. Today, they brought that back down to reality, but what have they lost?

The hype is gone.
That big listing for preorders has likely been worked through.
Inventory is likely piling up.

If you combine this with Tesla showing off the first produced cyber truck, the review embargo lifiting for Silverado EV, and Rivian starting to deliver the less expensive dual motor truck, and this looks bad for Ford. It was a short term choice they made that likely has ended up being a pretty big tactical error.

I hope that extra million or two was really worth it.

 

[mikehmb]

For an adventure truck the F150 is still a hard pass from me. These lower prices may appeal to the work truck crowd and the mid west but the % of buyers cross shopping with a Rivian long term I suspect is small.

100% this. While I cross-shopped (ever so briefly) the F150 and R1T, I also cross-shopped a Tundra TRD Pro and a BMW i8 a few years back when we were getting the i3 for the runabout.

And by cross-shop, it was really “when can I have either truck sooner, plus there’s a Ford dealer down the road from me.” That’s where the similarities ended, IMO.

I’m weird. Don’t be me.

 

[Picard]

Rivian has a tough decision to make soon. The the dual motor price is not really that much cheaper than the quads (< 10% on a 80K+ vehicle) which I think is a mistake. They needed a larger price separation between the 2 (achieved through cost cutting and de-specing) to give them flexibility in this price war. Reducing the price on the R1 series is inevitable but have to be careful to retain the "premium" tag for the R1 without entering the R2 territory.

 

[Ecupip]

For an adventure truck the F150 is still a hard pass from me. These lower prices may appeal to the work truck crowd and the mid west but the % of buyers cross shopping with a Rivian long term I suspect is small.

I am with you there. I don't understand the allure of an electric F150. The styling looks worse than the ICE version, costs nearly $30K more for some versions, and offers nothing more than a front trunk and a 1-2 second 0-60 improvement. The Rivian is in a whole nother category and feature set.

 

[Ripped]

It's interesting, but.... the Ford Lightning is a different vehicle than a Rivian.

I doubt that anyone who has their heart set on hauling plywood is going to get a Rivian.

Likewise, I don't think anyone who is going offroad is going to buy a Lightning

Although both vehicles can tow, that is not the principle reason anyone is buying either truck.

It might now become appealing for tradesman who want an economical full sized pick up truck, however Ford needs to fix the battery/power issue first.

I bet GM is wishing they kept resources allocated to the BOLT instead of the truck

 

[av8or]

What’s Elon saying about Cybertuck pricing with this comment? It might be less/cheaper than some had thought.

 

[izgoy]

but I would rather pay a little more now to go with a manufacturer that didn't scalp people for the past few years.

Does March 15, 2022 ring the bell?

 

[Tahoe Man]

The question I have is whether or not Rivian is forced to follow them with a price cut on the R1T. Though I suppose that won’t be the case as the dual motor variants come online. I guess the real pressure will be to get the dual motor’s out the door as quickly as possible.

It will at least put pressure on Rivian.
Rivian is getting between a rock and hard place because if they don't respond the competition will take sales away. On the other hand they really can't afford price cuts. Rivian is getting hit from more sides with GM getting serious with EV pickups. Others are in the works with Dodge etc not to mention Tesla. Tesla still has very good margins.

 

[Donald Stanfield]

Does March 15, 2022 ring the bell?

Rivian backtracked in a day and held to that pricing after their backlash. Not great, but much better than allowing your dealers to bend people over for 3 years without doing a single thing about it, all the while raising prices yourself. That was Ford's solution to the borderline criminal dealer's ADMs.

So your comment isn't nearly the gotcha you think it is.

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