Ford F-150 Lightning prices drop $US10,000, following four price rises in 12 months

US car giant Ford has slashed up to $US10,000 ($AU14,670) off the price of its F-150 Lightning electric pick-up amid slowing demand for electric vehicles in the United States.

The massive discount comes after Detroit-based automaker issued a series of price rises over the past 12 months, which saw the most affordable variant priced up to 50 per cent more than when it first launched.

Ford representatives say the price cut is attributed to increased manufacturing capacity at its Dearborn factory, as well as reduced costs in production and raw materials.

The most recent price rise occurred in April 2023 which pushed the cheapest Ford F-150 Lightning Pro to $US59,974 ($AU87,994) – 50 per cent more expensive than when it launched in early 2022.

The newly-discounted price for the Ford F-150 Lightning means the cheapest variant now starts from $US49,995 ($AU73,349) – still about 20 per cent more expensive than the launch price.

Other variants of the Ford F-150 Lightning have also gone down in price – $US6000 ($AU8800) and $US10,000 ($AU14,670) – but the cheapest variant has been the most affected by the recent changes.

Amid the price changes, Ford has temporarily closed its Rouge Electric Vehicle Centre in Michigan to complete upgrade works. Once completed by the end of September 2023, it expects to target 150,000 F-150 Lightnings annually.

“Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the electric [pick-up] for Ford and our customers,” a Ford representative for electric vehicles, Marin Gjaja, said in a media statement.

“We’ve continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning.”

The petrol-powered Ford F-150 is due to launch in Australia by the end of this year.