Ford slashed prices on its F-150 Lightning electric trucks on Monday, effectively dropping the vehicle’s starting price by almost $10,000. The company said the price drop was due to lower material costs and a higher factory output. But the rate of growth for electric vehicle sales has slowed in 2023, with some car companies reporting an excess in inventory. Earlier this year, Tesla bolstered sales by cutting their prices. Ford followed suit, discounting its Mustang Mach-E SUV to compete. Now, Ford is slashing prices on its fleet of electric F-150s as Tesla began production of its very own electric truck—the Cybertruck—over the weekend.
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