Ford Hikes F-150 Price Tag
Carmaker blames supply-chain issues, inflation for nearly 11% increase.
Electric model targeted to business, commercial customers.
IMAGE: Ford Motor Co.
Pickup fans will have to fork out an extra $5,000 if they want to go Ford and electric for business use.
A 2023 F-150 Lightning will go for a starting price of $51,974, up almost 11% and by 30% over the original price tag in the spring of 2021.
The carmaker cited continued supply-chain problems and inflation pressures on materials, pressures that have driven up the cost of materials for EVs across the industry.
The Lightning is targeted to business and commercial buyers. Ford drew attention for the starting price of the model when it introduced it – a hair under $40,000 and under many competitors’ EV offerings.
Originally posted on Auto Dealer Today
More Auto Finance
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Auto Lenders, Consumers on a Tightrope
April borrowing data shows that more consumers are bending over backward to buy vehicles, though subprime lending cooled off for the month.
Read More →
Toyota Financial Services President Replaced
Scott Cooke has served in various roles with Toyota Financial Services for over 20 years, including president and CEO, which he retires from on June 30.
Read More →