Ford raises prices. Again. 
Welcome to the Know the Difference Minute for Thursday, October 6th. 
Blaming rising costs and supply chain issues, Ford Motor Company is raising the entry-level price of the electric F150 Lightning by $5000 for the 2023 model year—the second price increase. The basic package now goes for just under $52,000. If you’re in line with a current order —you’re good, no increase. 
Now with a sticker 30% higher than originally announced, blame raw materials like cobalt, nickel, and lithium which have doubled in cost. It’s not just buyers alone taking the hit—Ford now estimates it’ll take $1 billion in unexpected costs in the 3rd quarter. A price hike will help but won’t cover everything. 
In July, Kelly Blue Book said the average EV price was $66,000. A loaded Ford 150 Lightning will top out as high as $97,000 once all is said and done. 
I’m Dave Spano from Annex Wealth Management.  That is your Know the Difference Minute.