Electric vehicle market: prices for the F-150 Lightning electric pickup truck have been reduced

American automaker Ford continues its price war in the electric vehicle market by reducing the cost of its popular F-150 Lightning truck model. According to Reuters, prices for the base model of the pickup truck have been reduced by 17%.

The previous price increase for the model took place in the early part of 2023, which led to a decrease in demand and a drop in sales. During the quarter to June, sales of Ford's electric vehicles decreased by 2.8%. However, the company announced a successful price reduction after improving the supply of raw materials for the manufacture of batteries.

Ford took this step in the context of price competition launched by Tesla a few months ago. During this time, electric vehicles from old automakers have accumulated at dealerships due to declining demand.

Elon Musk, Tesla's CEO, personally stated on Twitter that "the Ford Lightning is a good car, but a little expensive, especially given the high interest rates on loans these days." After that, prices for the F-150 Lightning began to fall.

Now the initial "recommended retail price" of the Lightning Pro model, intended for business customers, is $49,995, which is $9979 less than before. And the most affordable consumer version, the XLT 311 A, now costs $54,995, not $64,474, a drop of $9479.

It should be noted that Tesla recently made the first launch of the Cybertruck pickup truck at its Austin plant, and according to analysts, this move could make Tesla one of the participants in one of the most profitable segments of the US market and make Ford feel the competition in the electric pickup market.