Ford is raising the price of its base electric truck model, the F-150 Lightning Pro, by $5,000 as the automaker battles ongoing supply chain disruptions and rising input costs.

A day after the release of its September U.S. sales report, which showed significant interest (+197.3% year-on-year) in the automaker’s electric vehicles, Ford says it will raise prices of the Ford F-150 Lightning Pro, according to a report by Reuters.

Although electric vehicle sales are growing rapidly, Ford is struggling to keep up with demand. Ongoing supply chain issues (initially created by the pandemic and compounded by lockdowns in China) continue to be an issue in the industry as automakers race to meet growing demand for electric vehicles.

During Ford’s second-quarter earnings call, Chief Financial Officer John Lawler told Bank of America’s John Murphy:

The inflation we see will continue to be felt. And we see that, at all levels, you know, material cost, freight, fuel costs, et cetera. So we see it going on, and it’s over.

And again last month, Ford confirmed it was still struggling with parts shortages and new supply constraints.

Like much of the auto industry, Ford is increasingly leaning into pre-orders for its electric models, creating pent-up demand.

However, it is not just the price of electric vehicles that is rising. High-end gas models are also seeing price increases due to the continued shortage of semiconductors. And Ford isn’t the only one feeling the effects. Other automakers, such as Rivian and Tesla, also raised prices.

Stellantis CEO Carlos Tavares also said in an interview with a French newspaper The Parisian on October 2 that he expects:

The [semiconductor] the situation will remain very complicated until the end of 2023, then calm down a little.

With that in mind, Ford reopened orders for its popular F-150 Lightning in August, raising the price of all models by $6,000 to $8,500. The automaker is again today raising the price of its base model, the Ford F-150 Lightning Pro.

Ford F-150 Lightning Source: Ford

Ford F-150 Lightning Pro 2023 new price

The cheapest Ford F-150 Lightning, the Pro version, will now cost $51,974 from its previous price of $46,974, according to Reuters.

2023 Ford F-150 Lightning Pro Price Update

A Ford spokesperson says the price hike is due to:

Ongoing supply chain constraints, rising material costs and other market factors.

Meanwhile, Ford’s spokesperson said those who have already scheduled their order will not be affected by the hike, including government and commercial customers.

Ford says it will continue to monitor the price of its 2023 F-150 Lightning going forward.

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