You probably recall that Ford sold an all-electric F-150 truck not that long ago. However, it discontinued it last December, three months after the U.S. decided to end the EV federal tax credit.
While new F-150 Lightnings haven’t been available for almost a year now, Ford’s electric pickup has actually become very popular in the used market.
Used F-150 Lightnings Are Selling for Half the Sticker Price Now
Ford
According to a Bloomberg report, used F-150 Lightning EVs are currently sold at up to 50% off, which represents a pretty good deal for many buyers who are in the market for a full-size electric truck.
“When Ford was selling it brand new, the math was complicated. But used, the Lightning is 50% to 60% of the sticker price and that is really a sweet spot; it’s an incredible truck for the money,” Jimmy Douglas, CEO of Plug, a wholesale EV dealer, told Bloomberg.
Ford
As it turns out, used F-150 Lightnings are selling like hotcakes, taking only 20 days on average to find a buyer—less than half the 44-day average for used vehicles in the United States. The increased demand has pushed the F-150 Lightning’s average transaction price up 4% to $50,000 since the start of the year, according to Edmunds.com.
Interestingly, the report notes that nearly a third of used Lightnings are being sold by dealerships that promote other brands. Generally, those stores would flip a used Ford to a Ford dealer, Douglas said, but many are choosing to list the vehicle directly to cash in on the strong demand for the Lightning.
Why Is the F-150 Lightning So Popular All Of A Sudden?
Ford
There are several causes for the Lightning’s newfound popularity with American truck buyers, and the main one is obviously the attractive pricing. On the used market, Lightning prices are comparable to those of gas-powered F-150s, making the electric version a no-brainer for many buyers.
Surging gas prices are also a big factor as a lot of buyers are looking to save on fuel costs by going electric. According to the EV Group, which sells pre-owned EVs nationwide from three dealerships, many customers buy Lightnings as their second truck, driving it during the weekly commute and then driving the gas model on weekends.
Ford
Then there’s the Lightning’s scarcity in the market, as the gas-powered F-150 used to outsell it by 9-to-1 when the electric version was available. It may look similar to the gas truck, but the F-150 Lightning certainly gets itself noticed in a sea of gas F-150 trucks.
As you probably know, Ford currently lacks an electric truck in the lineup, but is putting the finishing touches on an all-new midsize electric pickup named Fathom. Launching in 2027 (hopefully), the Fathom will start around $28,000 and Ford hopes to sell 100,000 units every year. For comparison, the F-150 Lightning sold 33,500 units in 2024, its best year on the market.
