2023 F-150 Lightning Prices Increasing Up To $8,500

One of the best things about the Ford F-150 Lightning, when it launched last May, was its sub-$40,000 starting price tag. The Pro trim has a starting MSRP of $39,974 for the 2022 model year, undercutting every other all-electric pickup truck on the market by a wide margin. With its impressive value, we weren’t that surprised to hear that Ford stopped accepting reservations for the electric truck once it hit the 200,000 mark. Well, Ford is finally ready to start accepting orders for the 2023 F-150 Lightning, but the electric pickup has received a drastic increase with prices going up by $6,000 to $8,500.

For the 2022 model year, pricing for the Lightning ranged from $39,974 to $90,874. The 2023 model ranges from $46,974 to $96,874. Pricing for the entry-level Pro trim has gone up by $7,000, while the range-topping Platinum is $6,000 more expensive than before. The XLT High/Extended Range sees one of the more dramatic price increases, as pricing for the model has gone up by $8,500.

Ford claims that the considerable increase in pricing for the Lightning is because of “significant material cost increases and other factors.” It’s no secret that automakers have been facing increasing material prices, as everything from steel to the raw materials used in batteries have gone up because of the COVID-19 pandemic and the war in Ukraine. Quite a few automakers have increased the prices of their vehicles, but Ford’s price hike on the Lightning is one of the higher ones we’ve seen recently.

There is some good news, as Ford’s recent price hike for the 2023 Lightning doesn’t affect current order holders that are waiting for their electric truck to be delivered. Lightning reservation holders who received an invitation to order a Lightning model, but chose to continue waiting because their specific reservation wasn’t available will receive a private offer from the automaker.

While Ford has raised prices for the F-150 Lightning, the electric truck’s Standard Range Battery that’s available on Pro, XLT, and Lariat trims now has an EPA-estimated range of 240 miles. Previously, the Standard Range Battery pack was rated at 230 miles. Ford did not provide any information on how it was able to increase range from the battery pack.

Additionally, Ford has added its Pro Trailer Hitch Assist system, which automatically controls the truck’s brake inputs, throttle, and steering to make it easier to hitch a trailer, is now available. It’s available with the Tow Technology Package that’s offered on the Pro, XLT, and Lariat trims. Some Lariat and Platinum trims come with the package as standard.

Despite the increase in pricing, the 2023 Lightning is still one of the more affordable all-electric trucks on the market. Pricing for the Rivian R1T starts at $67,500, while the GMC Hummer EV3X Pickup, which will become available this fall, has an MSRP of $104,650. Pricing for the upcoming Chevrolet Silverado EV will start at $39,900.

See the Best EV Deals & Incentives