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Buying a new all-electric Ford F-150 Lightning is a difficult task. Finally, the 2023 version of the truck is coming out, giving buyers a second opportunity. However, this time, the F-150 Lightning is going to be a little more expensive. While a highlight of the Ford EV was its low starting price of $40,000, it’s now a thing of the past. All versions of the 2023 Ford F-150 Lightning received a massive price bump, including the base Lightning Pro, which now exceeds $48,000.

2023 Ford F-150 Lightning price bumps

Front view of red 2022 Ford F-150 Lightning, highlighting electric road in Detroit that can charge an EV
2022 Ford F-150 Lightning | Ford

For the 2023 model year, the F-150 Lightning electric truck is getting more expensive. However, there’s almost zero added value to the lineup. Ford’s been attempting to catch up on production since the order books have been closed for months. It’s nearly impossible to get your hands on the F-150 Lightning. The good news is that they’re opening those books back up very soon. The bad news? It’s going to cost more than ever before to buy any version of the EV.

Every trim level is up a minimum of $6,000 compared to its 2022 model year price. According to MotorTrend, the base Pro trim will now run you $48,769. That’s a $7,000 price increase from the original MSRP for the 2022 models. Those interested in upper trims will be even more unhappy. Moreover, the Lightning XLT jumped $6,500, while the XLT High and High Extended Range are up $7,000. Finally, the Lariat costs $7,400 more for 2023, and the Platinum extended range is up $4,200.

Why is the 2023 Ford F-150 Lightning price rising?

Ford F-150 Lightning Towing a Trailer
Ford F-150 Lightning Towing a Trailer | Ford

Ford says it isn’t just the demand driving the prices up. Instead, it’s “significant material cost increases and other factors.” MT assumed this was referring to the global supply shortages and the Russian war in Ukraine impacting Ford’s business. Furthermore, it isn’t unlike competitors, as Rivian, Tesla, and Lucid already raised prices for the same reason.

However, unlike some expensive brands with luxury models, the Lightning Pro was affordable. Coming in right around $40,000 was a sweet spot for the average American. Many loved the idea of an F-150 Lightning because of its affordability. Is the starting price for the base model electric truck too high now?

F-150 Lightning with a 320-mile range is now over $80,000

According to MotorTrend, the cheapest way to get Ford’s electric truck with the extended 320-mile range is with the Lightning XLT High Extended Range model. Unfortunately, it will now cost more than $82,000. Ford says it will honor the original price if you’re already a current reservation holder for one of these models. New prices go into effect for the first time for those placing an order when the books reopen this Thursday, August 11, 2022.

Higher price, almost no more value

2022 Ford F-10 Lightning Frunk
2022 Ford F-10 Lightning Frunk | Ford

Overview: All 2023 Ford F-150 Engine Options

Over the 2022 model year, Ford improved the range of standard battery models by 10 miles. Now, the non-extended-range versions of the F-150 Lightning can drive 240 miles per charge. In addition, Pro Trailer Hitch Assist is now available with the Tow Technology package and standard on the Lariat and Platinum trims. Other than that, the only changes are to the available color options. Unfortunately, a few extra miles of range and a new available package don’t ease the pain of paying an additional $6,000 or more very much.

In conclusion, the new pricing for the 2023 Ford F-150 Lightning is unfortunate. Not only do consumers suffer from higher prices, but the electric truck isn’t as competitive as it was. Without a $40,000 starting price and a much lower extended-range price, it’ll be significantly more affordable to stick with gas-powered models. At over $48,000, is the 2023 Ford F-150 Lightning Pro too expensive?