12:02 PM EDT, 04/11/2024 (MT Newswires) -- Ford (F) is cutting the price of the F-150 Lightning electric pickup truck, according to media reports citing a bulletin sent by the company to dealerships.

The price changes, which went into effect on April 5, apply to the truck's XLT (Standard Range), Flash (Extended Range), and Lariat (Extended Range) models, the reports said.

The biggest price trim is for the Flash (Extended Range) model at $5,500, the reports added.

The move will help the company "adapt to the market to achieve the optimal mix of sales growth and customer value," Ford was quoted as saying by Bloomberg News.

Ford did not immediately reply to MT Newswires' request for comment.

Price: 12.96, Change: -0.10, Percent Change: -0.80