The Ford F-150 Lightning, once America’s most popular electric pickup, is experiencing renewed demand on the used market. With prices now at 50% to 60% off the original sticker, buyers are snapping up these trucks at a rapid pace.
Ford F-150 Lightning Finds New Life on the Used Market
After production ended in December 2023, the Ford F-150 Lightning is seeing a resurgence in popularity among used vehicle buyers. According to Edmunds.com, used Lightnings are now selling in about 20 days—less than half the 44-day average for used vehicles in the US.
CEO Jim Farley explained the decision to end production, stating, “very high-end EVs, the $50K, 70K, $80,000 vehicles, they just weren’t selling.” Now, with used models available at significant discounts, demand has surged.
Deep Discounts Drive Demand
Used F-150 Lightnings are now selling at 50% to 60% of their original sticker price. Jimmy Douglas, CEO of Plug, a wholesale EV dealer, told Bloomberg, “When Ford was selling it brand new, the math was complicated,” but on the used market, “the Lightning is 50% to 60% of the sticker price and that is really a sweet spot.”
Prices for used Lightnings have risen 4% since the start of the year, averaging about $50,000 (~AUD 71,382). Some buyers, like Chase Norris from Colorado, have found used models for around $40,000 (~AUD 57,106), calling it a major upgrade from their previous gas-powered trucks.
Owner Experiences and Market Trends
EV Group CEO and cofounder Alex Lawrence noted that reasonably priced used F-150 Lightnings are difficult to find due to high demand. Many buyers are using the Lightning as a second vehicle to save on commuting costs.
A member of the Ford F-150 Lightning Owners Group, JF, shared, “Carvana gave us just a little less than we paid new,” and added, “R2, here we come!” JF said the increased resale value made it the right time to trade for a smaller vehicle.
The F-150 Lightning’s Pricing Journey
The base F-150 Lightning Pro debuted in 2021 with a starting MSRP of $39,974 (~AUD 57,069), but this quickly rose to around $60,000 (~AUD 85,659). In its first year, the average transaction price reached $79,000 (~AUD 112,784), about $19,000 (~AUD 27,125) higher than the gas-powered F-150.
Despite the high prices, Ford lost more than $100,000 (~AUD 142,765) on every EV it built in Q1 2024.
Ford’s Next Move: The Fathom Electric Pickup
Ford plans to re-enter the electric pickup market next year with the Fathom, the first model on its Universal Electric Vehicle (UEV) platform. The Fathom will start at $28,350 (~AUD 40,474) for the standard-range version, or under $30,000 (~AUD 42,829) including delivery.
Ford claims the Fathom will offer more interior space than a Toyota RAV4, feature Apple Maps integration, and include a NACS charging port. The company aims to sell around 100,000 units in its first year, with CEO Jim Farley stating the launch is on track for Q4 2027.
Competitor Comparison
The Rivian R2 Performance with the Launch Package is available to order starting at $57,990 (~AUD 82,789), offering up to 330 miles (~531 km) of EPA-estimated range and 656 hp. The R2 Premium will launch later this year at $53,990 (~AUD 77,079), while the R2 Standard, arriving in Spring 2027, will start at $44,990 (~AUD 64,230) with an estimated range of up to 275 miles (~443 km) and 350 hp.
Why this matters
The rapid sales of used F-150 Lightnings at steep discounts highlight strong demand for electric pickups—when the price is right. The original high prices limited the Lightning’s appeal, but the current used market shows buyers are eager for affordable EV trucks.
Ford’s upcoming Fathom, with a starting price under $30,000 (~AUD 42,829), could address the affordability gap that hampered the Lightning, potentially reshaping the electric pickup segment.
What this means for buyers
Buyers interested in an electric pickup may find significant value in the used F-150 Lightning market, with prices now far below original MSRP. For those considering a new model, the Ford Fathom’s upcoming launch at a lower price point is worth watching, though key specs like battery size and range have yet to be revealed.
Shoppers should compare options like the Rivian R2 and monitor Ford’s announcements for more details on the Fathom before making a decision.
Key Specs
- Used F-150 Lightning Average Price: $50,000 (~AUD 71,382)
- Original Base MSRP (2021): $39,974 (~AUD 57,069)
- First-Year Average Transaction Price: $79,000 (~AUD 112,784)
- Fathom Starting Price: $28,350 (~AUD 40,474) (under $30,000 (~AUD 42,829) with delivery)
- Fathom Launch Date: Q4 2027 (planned)
- Rivian R2 Performance Starting Price: $57,990 (~AUD 82,789)
- Rivian R2 Performance EPA Range: 330 miles (~531 km)
Images sourced from: caranddriver.com, electrek.co, fortune.com
