After starting 2024 off strong, with EV sales climbing 86% in the first quarter, Ford looks to boost momentum. Ford is trimming prices on the 2024 F-150 Lightning by up to $5,500 as the American automaker looks to fend off incoming competition.
Ford cuts 2024 F-150 Lightning price to fend off EV rivals
Ford sold 20,233 electric vehicles in the first three months of 2024, surging 86% from last year. The Mach-E led the charge, with sales climbing 77% year-over-year (YOY).
With 9,589 units sold in Q1, Ford’s Mach-E was the second-best-selling electric SUV in the US behind Tesla’s Model Y.
Ford Pro, the company’s commercial and software unit, continues expanding, with E-transit sales up 148% in Q1. The E-Transit was the top-selling electric van, with 2,891 units sold.
The F-150 Lightning remained the top-selling electric pickup in the US, with 7,743 units sold, topping Rivian’s R1T (which is also offering deals this month).
Ford’s EV sales surge comes after the automaker slashed Mach-E prices by up to $8,100 in February. The automaker also introduced significant incentives on the F-150 Lightning, including up to $12,500 in retail bonus cash.
In January, Ford announced new F-150 Lightning prices for the 2024MY, with most trims getting price hikes between $2,000 and $7,500. The base 2024 F-150 Lightning Pro starts at $54,995, up $5,500 from 2023.
The only 2024 Ford Lightning models to receive price cuts from the previous model were the Platinum (-$7,000) and Platinum Black (-$5,000) trims.
According to a new memo sent to dealers, Ford is reversing with new price cuts on 2024 Lightning models.
Online auto research firm CarsDirect found that the 2024 F-150 Lightning has received a price reduction of up to $5,500. The changes went into effect on April 5, 2024.
2024 Ford F-150 Lightning trim
Initial Starting Price
New Starting Price
Difference
Range (EPA-est miles)
Pro
$54,995
$54,995
0
240
XLT
$64,995
$62,995
-$2,000
240
Flash
$73,495
$67,995
-$5,500
320
Lariat
$79,495
$76,995
-$2,500
320
Platinum
$84,995
$84,995
0
300
Platinum Black
$92,995
$92,995
0
300
Updated 2024 Ford F-150 Lightning price and range by trim
The new Flash trim, added in 2024, received the biggest discount. Ford claims the Flash trim hits the “sweet spot” with up to 320 miles range, an interior loaded with tech and features, and a heat pump. It’s also equipped with Ford’s Tow Tech Package and Power Tailgate. It now starts under $70,000.
Ford’s F-150 Lightning is also eligible for the $7,500 federal tax credit (for trims starting under $80,000).
Despite EV sales growing in Q1, Ford is cutting the workforce at its Rouge EV facility by one-third, where the F-150 Lightning is built.
The lower prices come as Ford unveiled its new 2024 Mustang Mach-E. Ford’s new electric crossover features more range, faster charging, and quicker acceleration.
If you’re ready to take advantage of Ford’s new lower prices, we can help you get started today. You can use our links below to find deals on Ford EVs at a dealer near you.
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Tesla (TSLA) has introduced a new direct discount for the Model Y in China as the latest of a series of incentives to boost demand during this critical end-of-quarter push.
The automaker regularly offers discounts at the end of every quarter, but the incentives to boost demand have been the most wide-ranging ever this quarter.
Over the last month, we have been documenting the many sale incentives and discounts that Tesla has put in place to ensure it creates the demand for a record quarter.
Tesla aims to deliver a record number of more than 515,000 vehicles in Q4 in order for its sales not to be down for the whole year. That’s ~30,000 more vehicles than Tesla’s last record quarter, which was Q4 2023.
And everywhere, Tesla is heavily subsidizing loans with lower interest rates. That has been the main incentive in China, Tesla’s biggest market, until now.
Tesla’s New Discount in China
Today, Tesla announced that it is offering a ¥10,000, the equivalent of $1,380 USD, discount on the final payment for new Model Y vehicles:
The new discount can be combined with Tesla’s subsidized 0% interest financing, which has been Tesla’s main incentive in China all year.
Electrek’s Take
Based on insurance data, Tesla is tracking ahead of last year’s deliveries in China, but it is going to need to beat its last record by a significant margin to make sure not to be down for the whole year.
Model Y is Tesla’s most popular vehicle, but Tesla is also going against the expectation of the design refresh coming early next year, which can negatively affect demand.
This discount is likely to combat that and maintain Tesla’s current good momentum in China.
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We now have more details on the massive recall, which just keeps growing. Hyundai and now Kia are recalling more than 208,000 electric vehicles in Canada and the US to fix a problem with the loss of driving power, which can increase the risk of a crash.
For the second time this year, the automakers are recalling huge swathes of EVs and other “electrified” vehicles in North America, citing concerns about a loss of driving power, the National Highway Traffic Safety Administration (NHTSA) said on Friday.
In the US, Hyundai is recalling 145,235 EVs, including the 2022 through 2024 Ioniq 5, the 2023 through 2025 Ioniq 6, GV60 and GV70, and the 2023 and 2024 G80. In Canada, Hyundai is recalling 34,529 vehicles that were produced between March and November of this year, according to Automotive News Canada.
As for Kia, the recall includes close to 63,000 Kia EV 6 vehicles from 2022 through 2024 in the US, but the company has yet to offer details on its Canada recall.
It looks like the issue stems from “the integrated charging control units in these vehicles, which may become damaged and fail to charge the 12-volt battery. This malfunction could lead to a complete loss of drive power, posing safety risks for drivers,” the NHTSA stated.
Back in March, Hyundai, Kia, and Genesis issued a similar recall for 147,110 electric vehicles – that recall centered, again, around damaged integrated charging control units failing to charge the battery.
The South Korea automaker has said that all owners of affected vehicles will be notified by letter mail on the next steps to take. This will involve bringing your vehicle to one of the company’s dealers to inspect and replace the charging unit and its fuse if necessary, along with performing a software update for the charging units.
Importantly, no crashes, injuries, fatalities, or fires due to this issue have been reported in the US or Canada, Hyundai reported.
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A group of Tesla vehicles spotted under covers at the automaker’s test track at the Fremont factory is raising some questions.
Tesla has a very small test track on the ground of its first factory, Tesla Fremont, in California.
Now and again, people fly drones over the factory and catch glimpses of new cars being tested. Youtuber ‘Met God in Wilderness’ is one of those drone pilots who regularly fly over the factory and while he didn’t catch vehicle being tested, he did catch some curious vehicles under covers next to the track:
The vehicles are all covered, and therefore, it’s hard to tell exactly what they are, but the different shapes are intriguing and raise some questions.
It looks like three, maybe four, different kinds of vehicles:
We know that Tesla is working on three new specific vehicles: a Model Y design refresh, and two new cheaper models based on Model 3 and Model Y.
All three vehicles are expected to be unveiled early next year.
Electrek’s Take
At the risk of stating the obvious, getting much information from vehicles hidden under cover can be hard. It’s even possible that some of those have shape camouflage, which is sometimes used by automakers – although I don’t remember Tesla ever using that.
So here are my best guesses. Take them for what they are: guesses.
The most interesting ones to me are the first two on the left in the picture above. The last vehicle on the left looks like it could be a smaller Model 3.: