F150 Lightning gets nearly $10K in price cuts

[Sgt Beavis]

https://www.f150lightningforum.com/2023/07/17/2023-f-150-lightning-gets-price-cuts-across-all-trims/

“Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the EV truck for Ford and our customers,” said Marin Gjaja, chief customer officer, Ford Model e. “We’ve continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning.”

Lightning Model	Previous MSRP	Updated MSRP	Savings
Pro	$59,974	$49,995	$9,979
XLT 311A	$64,474	$54,995	$9,479
XLT 312A	$68,474	$59,995	$8,479
XLT 312A Extended Range	$78,874	$69,995	$8,879
Lariat 510A	$76,974	$69,995	$6,979
Lariat Extended Range	$85,974	$77,495	$8,479
Platinum Extended Range	$98,074	$91,995	$6,079

MSRPs do not include additional $1,995 destination and delivery fees

In addition to the price cuts above, Ford customers can take advantage of an additional $1,000 bonus if they build their own XLT, Lariat, or Platinum (still no Pros, sorry) Lightning through Ford’s website or dealer network before July 31.

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[Rivdog]

Looks like Ford pretty much just reversed course on the prior price increases. When a new vehicle loan is 6%+ for those with an 800+ credit score, it’s hard to keep charging that much for cloth seats and no sunroof!

 

[Zeusy Zeus]

Demand is low just like Tesla they have no choice in order to stay relevant.

 

[Sgt Beavis]

Looks like Ford pretty much just reversed course on the prior price increases. When a new vehicle loan is 6%+ for those with an 800+ credit score, it’s hard to keep charging that much for cloth seats and no sunroof!

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.

 

[MidnightRivian]

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.

Rivian can temporarily cut the truck price until they can source the right battery minerals to qualify for the full tax credit.

SUV they won’t cut the price but the full tax credit will help bring in price conscious buyers.

this gives them plenty of time to let rates come back down and enduro dual motors to roll out.

SUV has plenty of demand and backorders. Price cut is not necessary. Instead bring back the explore option and fully qualified battery.

 

[R1Tcali]

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

 

[izgoy]

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.

 

[junkanoo]

Rivian can temporarily cut the truck price until they can source the right battery minerals to qualify for the full tax credit.

SUV they won’t cut the price but the full tax credit will help bring in price conscious buyers.

this gives them plenty of time to let rates come back down and enduro dual motors to roll out.

SUV has plenty of demand and backorders. Price cut is not necessary. Instead bring back the explore option and fully qualified battery.

Very much doubt that they will cut the truck price as they are losing money on each vehicle as it is. So why chase volume? A price cut will also affect the R1S indirectly, as purchasers may defer purchase waiting for a like price reduction on the SUV.

 

[MidnightRivian]

Very much doubt that they will cut the truck price as they are losing money on each vehicle as it is. So why chase volume? A price cut will also affect the R1S indirectly, as purchasers may defer purchase waiting for a like price reduction on the SUV.

trucks are starting to pile up and cyber truck is coming out soon.

Rivian will get aggressive with their trucks once the price wars heat up.

I’m sure they will introduce lower trim options without wood and using enduro dual motors plus small pack LFP batteries that can charge to 100%.

That will be there doorbuster special to bring customers in.

 

[izgoy]

Rivian can temporarily cut the truck price until they can source the right battery minerals to qualify for the full tax credit.

SUV they won’t cut the price but the full tax credit will help bring in price conscious buyers.

this gives them plenty of time to let rates come back down and enduro dual motors to roll out.

SUV has plenty of demand and backorders. Price cut is not necessary. Instead bring back the explore option and fully qualified battery.

Rivian has an order book right now. They will go through their order book before they have to lower the pricing. They really can't lower the pricing either, so Rivian has just found itself in the same boat with VW, GM, Fisker, etc. Can't compete on prices but can't lower the prices either. This is a major blow to Rivian. I wonder if this will be reflected by the stock price.

 

[SoCal Rob]

trucks are starting to pile up and cyber truck is coming out soon.

Rivian will get aggressive with their trucks once the price wars heat up.

I’m sure they will introduce lower trim options without wood and using enduro dual motors plus small pack LFP batteries that can charge to 100%.

That will be there doorbuster special to bring customers in.

That makes sense to me. Also, unlike Ford, if Rivian has a demand issue with trucks they can shift production to more SUVs for now to satisfy more customers and make money while keeping truck supply in check. Truck demand for longer range dual motor R1Ts will probably keep them busy for a while once they launch. Beyond that, I can see them going to a lower content and less expensive vehicle as you said while also adding higher end trims (quad enduro, etc.) to broaden the price range.

 

[Batman]

Rivian will have to drop price on their lot full of R1Ts. Its inevitable.

 

[Count Orlok]

sad to say it but with ford honoring the Count's August Lightning build with the new MSRP he will probably be cancelling his R1T order. Although he is considering placing a new max pack R1S order because 2025 is just around the corner.

 

[mabowden]

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

Very glad I bought this truck in 2022 with pre march pricing.

 

[Grabs10]

A lariat ER becomes a bit more compelling. Dealers in my area have dealer mark downs as well by around $2-3k as well last time I looked. Wonder if they will still keep their dealer mark downs or add some adjustment back on top of them?

But in the end the Lightning is a compliance/compromise truck that is just a shoehorned EV in an Ice chassis so they should be cheap and be the cheapest option by a large margin in the market.

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