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Ford raises prices of electric trucks F-150 as inflation declines According to Reuters



© Reuters. FILE PHOTO: Ford’s company logo is seen at the Brussels Auto Show, Belgium January 9, 2020. REUTERS / Francois Lenoir

(Reuters) -Ford Motor Co is raising the price of its F-150 Lightning Pro electric truck for the 2023 model year by nearly 11 percent, seeking to cushion the impact from a troubled supply chain and decades of high inflation, a spokesman for the automaker said on Wednesday.

The spokesman said the price of the new model has been set at $51,974 from $46,974 previously, due to “ongoing constraints in the supply chain, rising material costs and other market factors”.

US automakers including EV giant Tesla (NASDAQ 🙂 Inc and Rivian Automotive Inc have also raised the prices of their vehicles this year, as tough economic conditions worsened as Russia invaded. Ukraine strategy.

In August, Ford raised the price for the F-150 Lightning series for the first time since it was revealed last year, to around $6,000 and $8,500 depending on the variant.

The Pro model, the cheapest of the variants, costs nearly 18 percent more than before, amid soaring costs of raw materials like lithium used in EV batteries.

A Ford spokesperson said those who have scheduled orders, including commercial and government customers, will not be affected by the latest price hike.

On Tuesday, Ford reported strong demand for new vehicles in the United States, said retail orders were rapidly expanding, but warned that supply problems continue to weigh on sales. row.

Demand for cars and trucks could fall in the coming quarters as rising interest rates discourage consumers from paying more for vehicles, analysts say.

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