Ford’s inventory falls after F-150 Lightning EV costs lower by as much as 17%

The value cuts vary from 16.6% on the lowest-priced Pro mannequin to six.2% for the highest-priced Platinum Extended Range.

Ford inventory
F,
-5.94%
fell practically 6% on Monday.

“Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the EV truck for Ford and our customers,” stated Marin Gjaja, the chief buyer officer for the Ford Model e. “We’ve continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning.”

Here are the cuts within the producer’s recommended retail value on the F-150 fashions:

• Pro: $9,979, or 16.6%, to $49,995 from $59,974.
• XLT 311A: $9,479, or 14.7%, to $54,995 from $64,474.
• XLT 312A: $8,479, or 12.4%, to $59,995 from $68,474.
• XLT 312A Extended Range: $8,879, or 11.3%, to $69,995 from $78,874.
• Lariat 510A: $6,979, or 9.1%, to $69,995 from $76,974.
• Lariat Extended Range: $8,497, or 9.7%, to $77,495 from $85,974.
• Platinum Extended Range: $6,079, or 6.2%, to $98,074 from $104,153.

Ford stated it was providing a $1,000 bonus for retail prospects who construct their very own XLT, Lariat or Platinum truck by a supplier or Ford’s web site by July 31.

The value cuts come after electric-vehicle big Tesla Inc.’s
TSLA,
+3.20%
value cuts led to a blowout second-quarter deliveries report.

Tesla shares gained 3.2% to a 10-month excessive.

Meanwhile, Ford’s inventory peaked at a 10-month closing excessive of $15.35 on July 5, the day earlier than it reported second-quarter deliveries.

Ford’s inventory has climbed 11% over the previous three months by Monday, whereas Tesla shares have run up 55% and the S&P 500
SPX,
+0.39%
has gained 9%.