Ford Cuts Prices Of F-150 Lightning

(RTTNews) - Automobile giant Ford Motor Co. (F) announced on Monday, that it is lowering the prices of F-150 Lightning for all customers.

As per the company, it is taking advantage of its increased plant capacity, continued work on scaling production and cost, and improving battery raw material costs to help lower the price of F-150 Lightning.

The Rouge Electric Vehicle Center in Michigan is closed temporarily so that the company can complete final upgrades to triple the plant's annual run rate to a targeted 150,000 F-150 Lightning trucks beginning this fall.

The upgrades at the plant will help the company to sell the trucks as early as October at a price closer to initial Lightning pricing. The company has now opened ordering for all customers along with offering a $1000 bonus for retail customers who build their own XLT, Lariat or Platinum truck through their dealer or via ford.com from July 6 to July 31 as part of the national summer sales event.

Additionally, the company is offering Ford Credit where eligible buyers can get interest rates as low as 1.9 percent APR for 36 months. They can order the truck from their local dealer or in-store.

For eligible customers considering an electric pickup truck, they can get it for as much as $7,500 in potential Inflation Reduction Act consumer and commercial electric vehicle tax credits on most F-150 Lightning models.

Customers will also have access to more than 12,000 Tesla Superchargers across the U.S. and Canada staring early next year. Ford will be providing access to Ford Pro Charging solutions to keep their F-150 Lightning powered up as well.

Currently, shares of Ford are trading at $14.43, down 3.67% on the New York Stock Exchange.