Ford Motor shares experienced a decline on Monday following the company’s decision to reduce the price of its flagship electric pickup, the F-150 Lightning.
The move comes just days after Tesla produced its first Cybertruck at GigaTexas
Ford announced a significant price reduction, slashing the base price of the F-150 Lightning by approximately 16%, amounting to a reduction of around $9,980. The new base price now stands at $59,974 per unit. Price cuts for the higher-end Platinum version were slightly lower, around 6.2%.
Marin Gjaja, Ford’s Model 3 chief customer officer, acknowledged the reasons behind the price adjustment, stating, “Shortly after launching the F-150, rapidly rising material costs, supply constraints, and other factors drove up the cost of the EV truck for Ford and our customers. We’ve continued to work in the background to improve accessibility and affordability to help lower prices for our customers and reduce the wait times for their new F-150...
