If you’re looking to pick up a bargain EV, now is a good time to head to the dealers as companies across the U.S. are slashing prices of their electric models. Tesla has been trimming the cost of its range for months, Lucid followed suit and Fisker is even offering its electric SUV for less than $25,000. Now, Ford has become the latest automaker to cut prices of its electric models, slashing thousands off the cost of an F-150 Lightning pickup truck.
Ford has cut up to $5,500 off certain models of F-150 Lightning as it looks to reignite sales of the electric pickup now that deliveries have resumed weeks after a stop-ship order was issued, reports Bloomberg. As the site explains:
Ford Motor Co. slashed prices of its electric F-150 Lightning pickup truck by as much as 7.5% as its EV inventory balloons and the automaker prepares to resume deliveries this month following a halt earlier for an undisclosed quality issue.
The price cuts put in place April 5 partially reverse hikes in January as Ford was reducing production of its signature electric vehicle by half and eliminating a shift of workers. The biggest reduction of $5,500 is on the Flash extended-range model, which now starts at $67,995, the automaker said.
Ford said via email that the cuts will help it “adapt to the market to achieve the optimal mix of sales growth and customer value.”
Ford halted sales of the F-150 Lightning back in February 2024 when the company issued a stop-ship order on the electric trucks. The order came as a result of a quality issue that Ford was forced to address. While it was looking into the issue, production of the Lightning appears to have continued, with inventory of the electric truck now swelling to more than 130 days worth, reports Bloomberg.
The over-supply sparked the cut in prices for the electric truck, which is also eligible for further factory incentives and tax breaks announced as part of the Inflation Reduction Act.
A version of this article originally appeared on Jalopnik’s The Morning Shift.