Ford (F) is making the F-150 Lightning more affordable as the 2024 Lightning is getting a price cut by as much as $5,500 in the form of a “pricing action,” according CarsDirect, citing a bulletin that the American automaker sent to dealerships. The price changes for the electric truck went into effect on April 5, reported Joel Patel on April 9. Weakness this morning in shares of rival electric truckmaker Rivian (RIVN), which is down 67c, or nearly 7%, to $9.60, has been linked to analysts highlighting Ford’s pricing action. Other traditional and EV automakers include General Motors (GM), Honda (HMC), Mercedes-Benz (MBGYY), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).
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