Once America’s most popular electric pickup, Ford’s F-150 Lightning is finding a second life on the used market.
The F-150 Lightning is hard to pass up at 50% to 60% off sticker price, even used. With new models no longer available, Ford’s electric pickup is suddenly selling like hotcakes on the used market.
After the last model rolled off the assembly line last December, CEO Jim Farley said the decision to end production came as the “very high-end EVs, the $50K, 70K, $80,000 vehicles, they just weren’t selling.”
At 50% to 60% off, it now looks like a bargain in the used market. “When Ford was selling it brand new, the math was complicated,” Jimmy Douglas, CEO of Plug, a wholesale EV dealer, told Bloomberg.
On the used market, however, “the Lightning is 50% to 60% of the sticker price and that is really a sweet spot,” he added.
Used Ford F-150 Lightnings are selling in about 20 days, less than half the 44-day average for used vehicles in the US. According to Edmunds.com, prices are now up 4% to about $50,000 since the start of the year.
Douglass said that close to one-third of used models are sold by rival dealerships that would normally flip them back to Ford. However, many are opting to sell them directly because of demand.
Chase Norris from Colorado called the electric pickup a bargain. He purchased a used Lightning for around $40,000 and considers it a major upgrade from his previous gas F-150.
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