Today in both "price fixing is useless" and "your taxpayer dollars at work" news...
In a move that can only be described as inconspicuously timed, Ford announced last week that it is raising the price of its high end electric F-150 by up to $8,500; an amount that adds another $1,000 onto the new $7,500 EV subsidy that was including in President Biden's "Inflation Reduction Act". Base models are seeing their prices hiked by $7,000.
Biden signed his "flagship" act on Tuesday afternoon.
One more time, so we're clear: a $7,500 taxpayer subsidy included in an act named after reducing inflation appears to have spurred an even larger price hike on electric pickup trucks.
The electric F-150 had previously been listed for $40,000 for its base version. Now, it is priced at $47,000, according to CNN. The better equipped versions of the vehicles have similar price hikes, up to $8,500.
Rather than come right out and state what appears to be the obvious, Ford said that the price change is due to "significant material cost increases and other factors."
Other factors like...oh, say, a $7,500 taxpayer subsidized cash grab?
The automaker has made some "small improvements" to the vehicle, however, according to the report. For example, the range for the base model of the vehicle has moved higher to 240 miles from 230 miles. The company is also adding a new feature called "Pro Trailer Hitch Assist", which reportedly helps hook the truck up to trailers.
Sounds like $7,500 worth of improvements if you ask us...
And, as the report notes, Ford isn't the only automaker raising prices. GM has also increased the price of its electric Hummer by $6.250 - a similarly inconspicuous amount.