/cdn.vox-cdn.com/uploads/chorus_asset/file/25406819/STK051_TIKTOK_CVirginia_D.jpg)
stronghold (F) She didn’t want to irritate her customers and future electric car buyers.
As consumers grapple with rising prices for just about everything from groceries to basic necessities to gallons of gas at the pump, the auto manufacturer has chosen a phased strategy to announce an increase in the prices of its electric vehicles.
On August 9, the group from Dearborn, Michigan, announced a price increase for the F-150 Lightning, the electric version of the popular F-150 pickup truck. These price increases were between $6,000 and $8,500 depending on the model. Thus, the base price of the 2023 F-150 Lightning has increased between $47,000 and $97,000, compared to about $40,000 to $92,000 for the 2022 model. These prices clearly do not include taxes, delivery, and other fees.
Ford insisted that the new prices did not affect customers who had already ordered the car. To explain its decision to raise prices, the automaker said the cost of developing the battery had risen sharply.
Mustang Mac E prices skyrocket
The cost of developing batteries has more than doubled since the coronavirus pandemic, research firm AlixPartners has calculated. This increase in costs is due to the disruptions caused by the pandemic to supply chains and the rising prices of raw materials in the wake of Russia’s invasion of Ukraine.
Costs for the raw materials (cobalt, nickel, and lithium) needed to develop an electric vehicle have increased on average by 144% in two years to $8,255 as of last May, according to a report published in June by AlixPartners. As of March 2020, these costs are $3,381. The research company added that the cost of developing an electric vehicle has increased by about $2,000 over the past two years.
Automakers mostly chose to pass on these unexpected cost increases to consumers. Before Ford, Tesla (TSLA) GM (GM) Rivian (countryside) raise the price of their cars.
In an effort to please its customers, Ford has made some updates to the F-150 Lightning. The group is receiving orders again after being overwhelmed by high demand.
Go to follow
The new base F-150 Lightning will be able to travel 240 miles on a single battery charge, 10 miles more than the first models. As for the F-150 Lightning with a large battery, the battery range will now be 320 miles. Ford now also offers new colors.
The Jim Farley-led company has just pursued the same strategy as the all-electric Ford Mustang Mach-E crossover. Ford just announced price increases ranging from $3,200 to $8,675 depending on which variant the customer chose for the 2023 Mach-E.
Base price for the entry-level Mustang Mach E increases from $44,995 for a 2022 model to $48,195 for a 2023 model. The base price for the standard Premium RWD package is now $58,975 compared to $52,900 for the 2022 model. The base price is The Ford Mustang Mach-E Premium eAWD Extended Range is now $67,575 compared to $58,900 for the 2022 model year.
Significant increase in cost
Ford said these price increases reflected “significant increases in the cost of materials, continued pressure on key supply chains, and rapidly changing market conditions.”
The new prices will be in effect for all orders placed beginning August 30, Ford says, which will also reopen orders for this vehicle.
“We are sharing these changes ahead of the reopening of demand banks on Tuesday so customers can understand the feature and pricing adjustments around ordering the Mustang Mach-E,” said Marin Gjaja, Chief Customer Officer, Form E.
As with the F-150 Lightning, Ford has tried to quell potential customer anger by saying customers will have 90 days to test BlueCruise’s hands-free driver assistance system and decide whether to sign up for it.
Blue Oval also offers customers new colors, while the battery of certain models is gaining more autonomy.
“Typical beer advocate. Future teen idol. Unapologetic tv practitioner. Music trailblazer.”
More Stories
A California road toll proposal would have motorists pay by miles driven instead of a per-gallon gas tax
The Meme stock craze is starting to fade
Stocks are treading water with the Dow Jones poised to make another bid for 40,000