American carmaker Ford Motors has increased the prices of the new 2015 F-150 pickup trucks by as much as $3,615.
Ford says that the new F-150 pickups will have an aluminum body, which will make the vehicle lighter but at the same time increase the cost. The company is also reducing the number of models from 11 to 5.
The new F-150 models are expected to reach the dealers in this fall. The least expensive model of the F-150 is XL, which will be powered by a 3.5-liter V-6 engine producing 238 horsepower (hp). The F-150 XL model will have a price tag of $26,220 that includes shipping charge of $1,195. When compared to the 2014 base-model of the F-150, the new model will see a price increase of around $395.
The price of the XLT model will be increased by $340 and will be available for $31,890. The 2014 F-150 Lariat had a price tag of $38,835 but the 2015 model will be priced at $39,880, an increase by $1,045.
The top of the range F-150 model, the Platinum model, will be priced at $52,155 (including shipping charge of $1,195), which is an increase of $3,055 as the 2014 was available for $49,100.
The highest price increase of $3,615 will be in the 2015 F-150 King Ranch model, which will be priced at $49,690, compared to the $46,075 2014 model.
The overall prices of the F-150 pickup trucks have increased in the range of 1 percent to 8 percent depending on the model. The prices for four-wheel drive will be even higher. Ford says that dealers can start ordering the 2015 F-150 models, which will go into production in Q4 2014.
The price increase will also bring along certain new features to the pickup truck. All models of the 2015 F-150 will have two information screens as standard. A 2.3-inch display screen will be available in the instrument cluster, while a 4.2-inch screen will be included in the center of the dash. All models of the F-150 will also have telescoping steering wheel and will be equipped with two additional speakers.
"The F-150 changeover to aluminum is the largest, most complicated launch in the history of the company," says Adam Jonas, an analyst with Morgan Stanley. "It's going to be a very painful process. They won't know until they turn the machine on how the products will be."
The XL and the XLT models account for around 70 percent of the overall F-150 sales. The F-150 is also one of the top-selling trucks in the U.S. for Ford. It will be interesting to see if the price increase affects the sales of the pickup truck in the near term.
