Ford EVs Just Got Way More Expensive, Are Buyers Still Interested?

Ford electric vehicles just got major price bumps. The Blue Oval produced two of the most dynamic electric vehicles in the industry in recent years. First came the Mach-E electric Mustang SUV. Next, the automaker electrified an F-150 to create the Ford F-150 Lightning. Both nameplates are already experiencing major price hikes after garnering plenty of attention. Are buyers still interested in the electric vehicles, or will high prices scare them away?

The Ford F-150 Lightning is pretty pricey

A red Ford F-150 Lightning electric pickup truck is driving off-road.
The Ford F-150 Lightning | Ford

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The Ford F-150 Lightning now starts at $48,769 after its recent price bump. The 2022 model year started at $39,974. The electric truck’s price increased by $8,795.

The base model went from affordable to expensive in the blink of an eye. The F-150 Lightning was eligible for the federal electric vehicle tax incentive when it first hit the production line. Now, the electric pickup may no longer qualify since the incentive has been revised.

The F-150 Lightning electric pickup truck is impressive, but is it worth nearly $50K? It makes 426 horsepower and 775 lb-ft of torque. The 2022 model year has a 230-mile standard driving range. The 2023 model year may tack on a few extra miles of driving range.

The Ford F-150 Lightning shares many traits with its ancestor, the F-150. It offers even more utility than the gas-powered pickup. Ford’s electric pickup truck is the most popular electric truck in America based on sales. The Blue Oval sold close to 200,000 F-150 Lightning models when orders were open. The price bump isn’t great news for consumers that wanted the entry-level model when it was more affordable. That being said, plenty of drivers will still purchase the electric Ford truck despite its new starting price.

The Ford Mustang Mach-E changed the game for Ford

A gray 2023 Ford Mustang Mach-E electric SUV is parked.
The 2023 Ford Mustang Mach-E | Ford

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The Ford Mustang Mach-E shook up the entire automotive industry. It’s the first electric Mustang SUV in existence.

When the electric SUV first hit the streets, it shocked the entire EV space because it has the body of a muscle car and the soul of an EV. It makes 266 horsepower and 317 lb-ft of torque. It has 247 miles of standard driving range.

The Mach-E comes in several exciting trims. The 2022 Mustang Mach-E California Route 1 has an incredible 314 miles of driving range. The Mach-E GT can go from 0-60 miles per hour in 3.5 seconds.

The Mustang Mach-E now starts at $46,895. It costs $48,195 after destination fees. The 2023 Mach-E base model costs $3,200 more than the 2022 model year.

Will drivers still want the Ford F-150 Lightning and Mustang Mach-E?

A gray 2022 Ford F-150 Lightning electric pickup truck is driving on the road.
The 2022 Ford F-150 Lightning | Ford

RELATED: 4 Things Consumer Reports Doesn’t Like About the 2022 Ford Mustang Mach-E

The Ford F-150 Lightning and Mustang Mach-E are both more expensive than when the EVs first debuted. Luckily for Ford, recent price hikes won’t be enough to completely deter potential buyers from the nameplates. Car and Driver lists the Mach-E as one of the best electric SUVs for 2022. Drivers will still buy Ford EVs, but another big price hike could do some real damage to the nameplates.

Read more about the Ford Mustang Mach-E in the next article below.

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