Ford Targets Tesla Owners with F-150 Lightning Discounts, Boosts EV Appeal

In a strategic move to ramp up electric vehicle (EV) adoption, Ford has introduced the Tesla Competitive Conquest Bonus Cash program, offering Tesla owners a $1,500 discount on the F-150 Lightning. This incentive comes amid a series of price reductions across various models to stimulate demand and capture a larger share of the EV market.

Ford Launches Aggressive Discounts for Tesla Owners to Encourage F-150 Lightning Sales

While Ford continues experimenting with discounts, incentives, and other strategies to boost sales and demand, its latest strategy explicitly targets Tesla owners.

According to reports from Ford Authority (via Teslarati), the Detroit-based automaker is launching a new program called Tesla Competitive Conquest Bonus Cash. This program will give existing Tesla owners $1,500 off the price of a new F-150 Lightning, regardless of trim level.

It is also compatible with other incentives, such as Retail Bonus Cash. When combined with the Tesla Competitive Conquest Bonus Cash, some of Ford's incentives can save up to $14,000 on purchasing a new F-150 Lightning.

Along with these discounts, programs, and incentives, Ford had already discounted 2024 versions of the F-150 Lightning as of yesterday, resulting in adjustments of up to $5,500.

The discounts are as follows, as the source reported on April 11:

• Ford F-150 Lightning XLT Standard Range – $2,000 discount to $62,995
• Ford F-150 Lightning Flash Extended Range – $5,500 discount to $67,995
• F-150 Lightning Lariat Extended Range – $2,500 discount to $76,995

The Ford F-150 Lightning Pro Standard Range and Lightning Platinum Extended Range configurations remained at $54,995 and $84,995, respectively. If the MSRP is less than $80,000, the Ford F-150 Lightning is also eligible for the full $7,500 tax credit in the United States.

Ford also recently gained access to the Tesla Supercharger Network, which allows owners of the company's EVs to charge at the country's largest charging network. Ford EVs will require the NACS adapter, which is currently free.

In 2025, Ford will permanently install the NACS inlet in its electric vehicles, eliminating the need for an adapter.

Ford Boosts EV Sales with Price Cuts on 2024 F-150 Lightning Amidst Market Competition

According to Electrek, Ford hopes to build on its strong start to 2024, with EV sales up 86% in the first quarter. To compete with new models, Ford is lowering the price of the 2024 F-150 Lightning by up to $5,500.

Ford sold 20,233 electric vehicles in the first three months of 2024, up 86% from the previous year. The Mach-E led the charge, with sales increasing 77% yearly.

With 9,589 units sold in Q1, Ford's Mach-E was the second-best-selling electric SUV in the United States, trailing only Tesla's Model Y.

Ford Pro, the company's commercial and software unit, continues to grow, with E-transit sales increasing 148% in Q1. The E-Transit was the best-selling electric van, with 2,891 sold.

The F-150 Lightning remained the best-selling electric pickup in the United States, selling 7,743 units, surpassing Rivian's R1T (also on sale this month).

Ford's EV sales surge comes after the automaker reduced Mach-E prices by up to $8,100 in February. The automaker also offered significant incentives for the F-150 Lightning, including up to $12,500 in retail bonus cash.

Ford announced new F-150 Lightning prices for the 2024 model year in January. Most trims saw a $2,000 to $7,500 increase. The 2024 F-150 Lightning Pro begins at $54,995, up $5,500 from 2023.

The 2024 Ford Lightning's Platinum (—$7,000) and Platinum Black (—$5,000) trim levels were the only ones to receive price reductions from the previous model. According to a new memo sent to dealers, Ford is reversing course and cutting prices on 2024 Lightning models.

CarsDirect, an online auto research firm, discovered that the 2024 F-150 Lightning has received a $5,500 price reduction. The changes took effect on April 5, 2024.

The new Flash trim, introduced in 2024, received the most significant discount. Ford claims the Flash trim hits the "sweet spot" with up to 320 miles of range, a tech-heavy interior, and a heat pump.

It also comes with Ford's Tow Tech Package and Power Tailgate. It now starts at under $70,000. Ford's F-150 Lightning is also eligible for the $7,500 federal tax credit (for trim levels below $80,000).

Despite an increase in EV sales in the first quarter, Ford is reducing the workforce at its Rouge EV facility, where the F-150 Lightning is built, by one-third.

The price cuts come as Ford unveils its new 2024 Mustang Mach-E, an electric crossover with increased range, faster charging, and faster acceleration.

Photo: Cyrus Crossan/Unsplash