Ford Motor Co. is raising the starting price of its all-electric truck for the second time in recent months.
The new price tag for the 2023 F-150 Lightning Pro is $51,974, the company said. The increase is expected to affect only the Pro, its most affordable trim level.
Customers who have current orders with Ford won’t be affected by the price increase.
The Dearborn, Mich., auto maker said supply-chain problems, rising material costs and market factors were the main reasons for the increase in price.
Ford raised prices for all models of its F-150 Lightning truck in early August, less than four months after it began shipping the pickup to dealerships. At that time, the price for the F-150 Lightning Pro was $46,974.
In April, the company said the truck’s price would start at around $40,000, making it more affordable than many competitors and about the same price at the time as the Cybertruck by Tesla Inc., which leads the country in electric-vehicle sales.
Ford’s new plug-in truck is a battery-powered version of the F-150 pickup, which has been America’s bestselling vehicle for decades.
Auto makers including Tesla and General Motors Co. have also been raising prices on certain electric vehicles, as they look to offset the higher costs of raw materials used in their batteries.