Ford is doing something unusual with the 2026 F-150 Lightning. They cut prices by as much as $4,000, and they didn’t gut the features to make it happen. The Flash trim dropped to $65,995, while the Lariat came down to $74,995. You still get the same batteries, same range, same tech. The timing makes sense when you look at what happened to the EV tax credit in September.

• Flash trim gets the biggest cut at $4,000, bringing it down to $65,995 with 300 miles of range and dual motors
• Lariat drops $2,000 to $74,995, keeping its 320-mile range with the bigger battery pack
• Ford’s throwing up to $11,500 in cash at leftover 2025 models while the new 2026 trucks get permanent price cuts

What Changed and What Stayed the Same on the Ford F-150 Lightning

The Flash trim took the biggest hit. That’s $4,000 off the sticker, bringing you down to $65,995 before the destination charge. You’re still getting the 123-kilowatt-hour battery that delivers 300 miles on a charge, dual motors pushing out 563 horsepower, and that big 15.5-inch touchscreen with Apple CarPlay and Android Auto. The truck still comes with eight power outlets, which is huge if you actually use your truck for work or tailgating.

Move up to the Lariat and you’re looking at a $2,000 price cut. That puts you at $74,995, and you get the larger 131-kilowatt-hour battery that bumps range to 320 miles. The Lariat adds stuff like a power tailgate and power folding mirrors. Ford confirmed they’re not yanking any features to make these price cuts work, which is refreshing.

The Entry Point Got Better Too

The new base model is called the STX, and it replaces the old XLT. Price stayed at $63,345, but you’re getting more truck. The STX comes with the extended-range battery instead of the standard pack, so you’re jumping from 240 miles to 290 miles of range. Power went up too, from 452 horses to 536. Ford raided the parts bin from the F-150 Tremor and threw in some running boards, new wheels, and all-terrain tires. The STX gets a blue accent line on the grille and some unique graphics.

Walk into any Ford dealer right now and you’ll find two different deals competing for your attention. The 2026 models have lower sticker prices. The 2025 leftovers have bigger cash incentives. In California and other ZEV states, you can grab up to $11,500 off a 2025 Lightning through lease cash and Ford’s Power Promise bonus. That’s a $9,000 lease incentive plus an extra $2,000 if you skip the free home charger and opt for public charging credit instead.

Why Ford is Making This Move

The federal $7,500 EV tax credit died on September 30. Ford tried to get clever about keeping it alive. The plan was to have Ford Credit buy EVs from dealer inventory before the deadline, claim the tax credit, then pass the savings to customers through lease deals. GM was doing the same thing. Both companies backed out after political pressure from Republican Senator Bernie Moreno of Ohio.

Now Ford’s dealing with the aftermath. No tax credit means EVs got more expensive overnight. The price cuts on 2026 models are Ford’s answer. They’re trying to offset what buyers lost when the credit went away. The math works out to roughly offsetting the lost credit on the Flash trim, less so on the Lariat.

Sales Tell an Interesting Story

The Lightning actually beat the Tesla Cybertruck in the third quarter of 2025. Ford sold more than 10,000 electric trucks, almost double the 5,400 Cybertrucks Tesla moved. Through September, Ford sold over 23,000 Lightnings compared to just 16,097 Cybertrucks. That’s a 38% drop for Tesla year over year.

Ford paused Lightning production last year when demand softened and dealer lots filled up. This year, they’re pushing hard to keep sales moving. The company’s also teasing a cheaper electric truck coming in 2027 with a starting price around $30,000, which they’re calling their “Model T moment.”

What This Means If You’re Shopping for a Ford Truck

You’ve got choices. Buy a 2026 and pay less upfront with no games. Or lease a 2025 and stack those incentives. The 2025 XLT can lease for as low as $279 per month in California right now. Ford’s also offering 0% APR for 72 months nationwide if you buy, plus that $2,000 Power Promise bonus.

The catch with waiting for 2026 incentives is nobody knows what they’ll be yet. Ford might focus on lower MSRPs instead of big rebates. If that happens, buying a 2025 with current cash on the hood could actually save you more money than waiting for the 2026, even with its lower sticker price.

The Platinum trim stayed at $84,995. No price cut there. Same with the work truck Pro model, which wasn’t mentioned in any of the pricing changes. Ford’s clearly targeting the middle trims where most people shop.

Electric truck buyers have been cautious. Range anxiety is real, charging infrastructure matters, and the price premium over gas trucks has been hard to justify for some. Ford’s betting that cheaper entry points and better range will change minds. Whether it works depends on if truck buyers trust the technology enough to make the switch.