Photo: Edmunds.com
The Ford Motor Company by all accounts is enjoying a banner year and that is no more evident than in its quest to bring electric vehicles to the forefront of its loyal customers' minds.
Its F-150 Lightning (the electric version of America's best-selling truck for 42 years running) has demand that is going through the roof. The company just reported an increase in its workforce to try and minimize the wait time for customers to take delivery of their new electric toy.
Demand is so high the company's original plan back in January to build just 15,000 F-150 Lightnings this year, 55,000 in 2023, and 80,000 in 2024 is out the window.
But all is not rosy for the Detroit, Michigan, automaker as it continues to navigate supply chain issues, parts shortages, and even more damning, rising raw material costs, just as other automakers such as Tesla and Rivian have.
Manufacturing costs have a trickle-down effect that ultimately reaches the retail level, and Ford is not immune to passing those costs down to you and me in the form of higher prices for its vehicles.
Case in point, Reuters is reporting Ford's website shows the company has raised the price of its least expensive model of the hot-selling electric F-150 Lightning truck by 9% to $55,974. This marks the second time in just three months Ford has raised the price of its electric trucks.
It was not immediately clear when the increase went into play, and Reuters' attempt to get a response from the legacy automaker was to no avail.
The bad news from automobile manufacturers across the globe for consumers hoping to purchase a new vehicle gas-powered or electric is that prices are expected to remain high.
It remains to be seen at what point consumers will tire of the rising prices, and we begin to see sales figures that reflect that attitude.
Demand is so high the company's original plan back in January to build just 15,000 F-150 Lightnings this year, 55,000 in 2023, and 80,000 in 2024 is out the window.
But all is not rosy for the Detroit, Michigan, automaker as it continues to navigate supply chain issues, parts shortages, and even more damning, rising raw material costs, just as other automakers such as Tesla and Rivian have.
Manufacturing costs have a trickle-down effect that ultimately reaches the retail level, and Ford is not immune to passing those costs down to you and me in the form of higher prices for its vehicles.
Case in point, Reuters is reporting Ford's website shows the company has raised the price of its least expensive model of the hot-selling electric F-150 Lightning truck by 9% to $55,974. This marks the second time in just three months Ford has raised the price of its electric trucks.
It was not immediately clear when the increase went into play, and Reuters' attempt to get a response from the legacy automaker was to no avail.
The bad news from automobile manufacturers across the globe for consumers hoping to purchase a new vehicle gas-powered or electric is that prices are expected to remain high.
It remains to be seen at what point consumers will tire of the rising prices, and we begin to see sales figures that reflect that attitude.
Google News