Ford F-150 Lightning Prices Reportedly Tweaked: How Do They Stack Up Against Tesla's Cybertruck?
Portfolio Pulse from Shanthi Rexaline
Ford Motor Co. (NYSE:F) has reportedly adjusted prices for its 2024 F-150 Lightning EV pickup trucks, increasing prices for some models by $2,000 to $10,000 and reducing prices for premium trims by up to $10,000. The price changes were confirmed with the company following a report by Detroit Free Press. The 2023 model year prices remain unchanged. The price cuts for the Platinum trims may be due to their ineligibility for the federal tax subsidy. A new variant, the Flash, with an estimated EPA range of 320 miles, is priced at $73,495. Meanwhile, Tesla, Inc. (NASDAQ:TSLA) is set to enter the market with its Cybertruck, with prices ranging from $61,000 to $99,000, and the vehicle is expected to qualify for the federal tax subsidy. Ford's stock ended down 3.70% at $11.71 on Wednesday.
January 04, 2024 | 10:05 am
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NEGATIVE IMPACT
Ford has repriced its 2024 F-150 Lightning models and introduced a new variant, amidst adjusting its EV strategy and facing competition from Tesla's Cybertruck.
The price adjustments and introduction of a new variant indicate Ford's response to market dynamics and competition. The stock price drop suggests a negative short-term investor reaction to these changes and the broader EV strategy.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Tesla's Cybertruck is set to compete with Ford's F-150 Lightning, with its pricing structure announced and eligibility for federal tax subsidy confirmed.
Tesla's entry into the EV pickup market with the Cybertruck could impact its stock as it competes with Ford's offerings. The federal tax subsidy eligibility may give Tesla a competitive edge, but the minimal growth contribution until at least 2025 tempers the short-term impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70