Ford is cutting the price of the 2026 F-150 Lightning by up to $4,000, as confirmed by the automaker to CarsDirect. The price cuts vary by trim, however, and will only apply to more expensive packages for the electric pickup truck. This comes as the $7,500 EV tax credit expired at the end of September.
The 2026 model has a starting price of $63,345 for the STX trim, which is the same price as the previous year’s entry-level XLT. The STX replaces the XLT and delivers 536 horsepower, up from the XLT’s 452, and 290 miles of range, up from 240.
The Flash edition will receive the full $4,000 price cut, giving it a new price of $65,995. The Lariat, originally priced at $76,995, will get just a $2,000 haircut and will sell for $74,995. The Platinum edition will be priced at $84,995 and will not cost less.
This summer, Ford announced that it would release an affordable midsize all-electric pickup with a starting price of around $30,000 in 2027. The truck would be built on the company’s upcoming Ford Universal EV Platform that will be shared by a new family of products. These models would use Ford’s upcoming prismatic LFP batteries.
As EV-related tax incentives continue to expire, manufacturers will need to reach into their own pockets to deliver value to consumers. This week Tesla announced the Model 3 and Model Y ‘Standard’ editions, which give up some luxury touches in exchange for price, with both starting at under $40,000. Inflation has also played a large role in car pricing over the last five years, as $40,000 has roughly the same purchasing power as $32,000 in 2020.
Ford recently walked back a program that would have enabled dealers to offer a $7,500 tax credit on EV leases even after the expiration of federal subsidies on September 30, as first reported by Reuters. The plan involved having the company’s lending arm purchase new EVs out of the brand’s dealers’ inventory, after which Ford would apply for the tax credit on the vehicles. That credit would then have been considered in the EV lease terms for customers, passing on the savings.
GM was set to have a similar program before canceling it earlier this week. According to Reuters sources, GM killed the program after Republican Senator Bernie Moreno of Ohio raised concerns about it. It is unclear why Ford followed suit.
Update 11:23 EST: Added more context.
