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

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

The beginning value is for the F-150 Lightning Professional, the model designed for industrial use. For retail prospects, the Professional comes completely with the Customary Vary battery with an estimated 240 miles of vary. Nevertheless, the Professional is offered out to retail prospects for the rest of the 2023 mannequin yr, a Ford spokesman informed Motor Authority.

It means retail prospects should 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 Customary Vary battery. A 320-mile Prolonged Vary battery is on the market for an additional $15,000, bringing the beginning value as much as $71,990. That is a value reduce of $8,879 from previous to at present’s announcement.

Additional up, the Lariat with the Customary Vary battery begins at $71,990 and the Lariat Prolonged Vary is $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, in accordance with Ford.

The spokesman mentioned the brand new pricing is efficient instantly for vans being delivered from at present. It means anybody that has already positioned an order and continues to be ready on their truck will obtain the brand new pricing.

Ford mentioned it was in a position to make the newest value cuts attributable to improved economies of scale on the truck’s Rouge plant in Dearborn, Michigan. The plant is presently closed as Ford makes some last upgrades. When it reopens, it is going to have a focused annual run price of 150,000 vans beginning within the fall.

The most recent cuts are additionally attributable to improved battery uncooked materials prices, Ford mentioned.

“Shortly after launching the F-150 Lightning, quickly rising materials prices, provide constraints and different elements drove up the price of the EV truck for Ford and our prospects,” Marin Gjaja, chief buyer officer of Ford Mannequin E, mentioned 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 occasions for his or her new F-150 Lightning.”