Prices for the Ford F-150 Lightning electric pickup, a direct rival to the upcoming Chevy Silverado EV, rose sharply as the Blue Oval reopened order banks, driven both by increases in the price of materials and continuing supply chain problems.
As reported by our sister site, Ford Authority, certain trim levels saw the biggest price increases. The base Pro trim level saw the largest uptick in MSRP, both in absolute terms and as a percentage of earlier prices. The table below shows Ford F-150 Lightning price changes between Q4 2022 and the end of Q1 2023.
| 2023 Ford F-150 Lightning Price – March 30th, 2023 | 2023 Ford F-150 Lightning Price – December 15th, 2022 | + / – December 15 Price | |
|---|---|---|---|
| Pro | $59,974 | $55,974 | +$4000 |
| XLT | $63,474 | $63,474 | $0 |
| XLT High | $68,974 | $68,974 | $0 |
| XLT High Extended Range | $80,974 | $80,974 | $0 |
| Lariat | $75,974 | $74,474 | +$1500 |
| Lariat Extended Range | $85,974 | $85,974 | $0 |
| Platinum | $98,874 | $96,874 | +$2000 |
By comparison, the Ford F-150 Lightning Pro trim was unveiled with a price tag just under $40,000 back in May 2021. Its price has skyrocketed 50 percent since then, while the range-topping Platinum trim is now priced at $98,874, with price increases edging it closer to $100,000.
Meanwhile, prices for the 2024 Chevy Silverado EV have not changed as of this writing, though the electric Chevy truck has yet to launch. The base WT trim was announced with a starting price of $39,900, not including the destination freight charge, when it debuted at CES 2022 alongside the well-equipped RST First Edition trim level, which was announced to have a $105,000 starting price.
GM revealed pricing for two other 2024 Chevy Silverado EV trim levels, 3WT and 4WT trims, in November 2022. The Chevy Silverado EV 3WT will start at $74,800, and includes a destination freight charge of $1,895, while the Silverado EV 4WT will start at $79,800, also including a DFC of $1,895.
Though increases in Chevy Silverado EV pricing have not yet been announced, it’s certainly not impossible as material costs continue to see upticks.
2024 Chevy Silverado EV WT
The 2024 Chevrolet Silverado EV uses a narrow-body variant of the GM BT1 platform, which also underpins the GMC Sierra EV. Motivation will be provided by GM Ultium batteries and Ultium Drive motors, with the RST First Edition developing 754 horsepower and 785 pound-feet of torque in Wide Open Watts mode. GM has yet to announce horsepower or torque figures for the Silverado EV WT range, which is expected to span 1WT, 2WT, 3WT and 4WT equipment groups, from least- to most-equipped. Driving range from a single full charge will be up to 400 miles.
Production of the 2024 Chevy Silverado EV will begin later this year at the GM Factory Zero plant in Michigan, previously known as the Detroit-Hamtramck plant. The WT model with GM’s longest range battery will be the first to go into production in the spring of 2023, followed by the aforementioned RST First Edition.
Meanwhile, production of the Ford F-150 Lightning is under way at Ford’s Rouge River facility, though it was recently interrupted by a recall related to defective battery packs.
Subscribe to GM Authority for more Chevy Silverado EV news, Chevy Silverado news, Chevy news, GM EV news, GM technology news, and around-the-clock GM news coverage.
Comments
40,000 was a deal. 60,000 is outrageous. Anyone paying at these prices are being taken in by marketing and hype.
Ford raising their prices for the lightening? Didn’t they just lose something like 3 billion in their EV department last year? That sounds like a great business model. That should attract more buyers, especially since the dealers are still marking them up as well.
A lot of broken promises and bait and switch for this EV transition.
Brandon being Brandon.
That’s a lot of gasoline ⛽.
Or diesel