Ford Delivers Very Bad News to EV Buyers

The automaker, situated in Dearborn, Michigan, just made a choice that will affect consumer purchasing power. It really hurts.Ford (F) - Get Ford Motor Company Report just delivered a kind of uppercut to consumers in general and buyers of electric vehicles in particular.

The automaker issued a warning last month, stating that a shortage of parts prevented it from delivering the 40,000 to 45,000 automobiles promised to its dealers during the third quarter. Ford P also mentioned that its suppliers had increased their pricing, which would have an impact on company profitability.

The historic automaker stated that, "based on recent talks, inflation-related supplier expenses during the third quarter will run around $1 billion more than previously anticipated."

This will reduce the company's profit in the short term as it now expects third-quarter adjusted earnings before interest and taxes to range between $1.4 billion and $1.7 billion. This is significantly less than the adjusted EBIT of $3.7 billion that Ford posted for the second quarter.

It was also a warning that the automaker will pass on this unanticipated cost hike to consumers through higher vehicle prices. Exactly. Ford raised the price of its electrified F-150 Lightning pickup.

2023 F-150 Lightning base prices will rise by $5,000. Accordingly, prices range from $52,000 to $97,000. Prices varied from $40,000 to $92,000 for 2022 models. Taxes, delivery, and other fees aren't included.

The base price of the F-150 Lightning Pro, aimed at companies and governments, will rise to $51,974. The increase is much more dramatic if we start with May 2021 autos. $39,974

This is Ford's second price increase for the F-150 Lightning in a little more than a month. According to the model, the manufacturer raised the truck/costs pickup's on August 9 by anywhere from $6,000 to $8,500.

As a result, the base price of the F-150 Lightning model year 2023 increased by $47,000 to $97,000, as opposed to roughly $40,000 to $92,000 for vehicles model year 2022. Taxes, delivery fees, and other costs are obviously not included in these prices.

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