The price of Ford's all-electric F-150 Lightning Pro truck will be increased by $5,000, the second increase in less than a month. The price of the F-150 Lightning Pro will be adjusted due to supply chain constraints, rising material costs and other market factors, according to a Ford spokesman. The increase was reported by a news agency. The Pro, the cheapest model in the electric range of its best-selling gas-powered pickup, will now cost over $50,000 for the first time in its history. Due to rising supply chain costs, Ford raised the price of its entire F-150 range, including the Pro, by between $6,000 and $8,500.
The model's starting price was just under $40,000 when it was first launched.
The increase won't affect customers with orders already scheduled.
Ford wouldn't say if prices could increase in the future, but it did say that prices are constantly monitored.
EV manufacturers have been facing increased material costs as the price oflithium,cobalt, a nickel, all essential for car battery production, have surged as a result of supply chain troubles
In its half-year results in July, Ford said it was expecting its commodity costs to increase by as much as $4 billion, which it warned would be offset through improved pricing. There was a shortage of spare parts for some of Ford's vehicles.
Consumer demand for vehicles could be affected by rising interest rates and economic concerns, according to analysts.
Ford released its third quarter US sales a short time ago.
It has sold 8,760 units of all models of the F-150 Lightning since it launched in June, and said it saw a year-on-year increase in US sales of all its EV in September.
The company wants to make two million electric cars by the end of the century.
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