Ford says the fully electric version of its flagship pickup, the F-150 Lightning, is also going to get a substantial price hike.
The base model of the truck will cost about $47,000 and the premium model will cost about $97,000. Depending on the model, that increase could be between $6,000 and $8,500.
CNBC says that Ford is blaming material cost increases and other factors.
The price of EV batteries has gone through the roof as there are not enough of the necessary raw materials.
The cost of all vehicles has gone up since the beginning of the COVID-19 epidemic, as well as an ongoing shortage of microchips, which are necessary to control everything from a car's dashboard to its powered windows.
Customers won't be happy if you go from $40,000 to $47,000 as a start price.
The Senate recently passed the Inflation Reduction Act, which will give consumers up to $7,500 in tax credits to buy an electric vehicle. The lower trims of the Ford F-150 may not be eligible according to Consumer Reports.
When the federal government gives tax incentives to consumers buying trucks, it makes sense to jack prices up.
Is this an example of Ford adjusting costs to inflation or is it just another example of corporate greed? The price increase doesn't bode well for those looking to buy an EV with or without tax incentives
The family is annoyed when the replacement batteries cost more than the electric car.
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