Ford Motor Company f The company is reportedly increasing the price of its electric truck F-150 Lightning Pro by nearly 11% for the 2023 model to mitigate the impact of ongoing supply chain issues and decades of inflationReuters reported, citing a company spokesman.
What happened: The price of the new model has increased from $46,974 to $51,974 due to “ongoing supply chain constraints, rising material costs and other market factors.” report quoted the spokeswoman. The latest increase will not affect those who have already scheduled their order, including commercial and government customers, according to the report.
Also read: How to buy Ford shares
Why it matters: Ford has hiked the prices of its F-150 Flash Lineup in Augustfor the first time since its unveiling last year, around $6,000 to $8,500 depending on the variant, citing significant material cost increases and other factors.
EV giant Tesla Inc. TSLA have also hiked prices this year, citing inflationary pressures on commodities and logistics.
LM output: On Wednesday, Ford introduced his new 2022 Ford GT LM Editionthe last model of the famous third generation supercar.
The LM Edition will only do America’s honor Le Mansvictorious supercar that includes victories in 2016 and the historic 1-2-3 podium victory in 1966 depicted in the 2019 film “Ford vs. Ferrari” With Matt Damon and Christian Balle.
price action: The automaker’s shares closed 1.21% higher on Wednesday after gaining over 5% over the past five days Data from Benzinga Pro.
Continue reading: What 10 Analyst Reviews Have to Say About Ford Motor
