2023-07-18 07:38:00
Ford of the United States lowered the price of its electric pickup truck ‘F150 Lightning’ by 17%. As the release of Tesla’s electric pickup truck, the Cybertruck, was imminent, it responded by lowering the price. The pickup truck market is small in Korea, but it is a major vehicle type in the United States and the market is growing. As the electric vehicle era transitions, electric vehicle price competition is starting in the pickup truck market as well.
Ford electric pickup truck ‘F150 Lightning’ provided by Ford
Ford announced on the 17th (local time) that it would lower the starting price of the F150 Lightning by $10,000. The starting price is $49,995 from $59,995, a drop of regarding 17%. As for the reason for lowering the price, Ford said it reduced material costs and increased factory production.
The direct reason Ford lowered the price is the imminent release of the Cybertruck. On the 15th, Tesla announced on social network service (SNS) that “the first Cybertruck was made in GiGA Texas.” The first Cybertruck was produced at the Gigafactory in Texas, USA, and photos were also released.
Tesla had previously unveiled a prototype in November 2019, but following that, during the release of the test model, Tesla CEO Elon Musk said that ‘the window does not break’, but problems such as cracking the window were revealed. After that, the release date was delayed to 2024, but the first Cybertruck was produced at a slightly earlier time. About 2,000 Cybertrucks are expected to be delivered to consumers this year. The launch of the Cybertruck is visible.
Tesla’s Cybertruck is considered a ‘disruptor’ in the electric pickup truck market even before mass production. In the US electric pickup truck market, Rivian R1T, Ford’s F-150 Lightning, a strong tradition of pickup trucks, and EV pickup trucks from GMC Hummer under General Motors (GM) are competing. With the advent of Cybertruck, existing companies face new competitors.
Another reason Ford lowered the price was the abandonment of many reservations. Last month, a number of bookers canceled orders for the Ford F150 Lightning. The F150 Lightning has reached 200,000 pre-orders, and Ford has steadily raised the price due to high demand. The initial price was $40,000, but it was raised until it reached $60,000. After that, the price was lowered in line with the appearance of the Cybertruck.
“The EV market is changing rapidly and we must adapt to stay competitive,” said Ford spokesman Martin Gunsberg.
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