Criticism of rival company Ford lowers the price of F-150 Lightning, Musk says it is still somewhat expensive

Musk says criticism of Ford lowers price of F-150 Lightning, but still somewhat expensive

【PhoneAuto News】Ford recently lowered the price of its electric pickup truck, the F-150 Lightning, which has sparked a lot of comments, including from Tesla CEO Elon Musk. In his view, even with the price reduction, the Ford F-150 Lightning is still somewhat expensive.

Ford F-150 Lightning

In response to Ford’s announcement of the price reduction, Musk tweeted, “The Ford Lightning is a good car, just a bit expensive, especially considering the high interest rates on various loans at present.” As the CEO of Tesla and a competitor, Musk’s criticism is quite intriguing. Although the Ford F-150 Lightning is one of the best-selling electric pickups in the U.S. market, it is about to face two powerful new competitors – Tesla’s Cybertruck and General Motors’ Chevrolet Silverado EV.

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Musk’s tweet

If Musk believes that the Ford F-150 Lightning is expensive (with a starting suggested retail price of $49,995, and a Platinum edition price of up to $91,995 before DST), then we can boldly speculate that the price of the Tesla Cybertruck will be significantly lower. Taking into account Musk’s previous statement that the price of the Ford F-150 Lightning still needs to drop by $6,000-$10,000, the starting price of the Tesla Cybertruck may be expected to be around $35,000-$40,000.

This price is not impossible, first because Tesla has always done well in controlling production costs. Second, a large part of the future electric pickup truck market competition will be based on sales volume. Without sales volume, car companies may have difficulty participating in the competition. And in order to achieve sales volume, car companies will also consider pricing more carefully.

Tesla Cybertruck

Ford is preparing to achieve an annual production run rate of 150,000 vehicles (12,500 vehicles per month) by the end of this year. Considering the achievement of selling 8,757 vehicles in the first half of 2023, this will be a very high number. Meanwhile, Tesla is likely to set its annual production target to at least six figures, especially considering the fact that Cybertruck already has millions of orders.

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