(Motor Authority) — The Ford F-150 Lightning’s price has been raised for the third time in three months, with the least expensive version of the electric pickup truck hiked by 7.6% to $57,869.

The latest Lightning price hikes were first reported by Reuters, based on a perusal of Ford’s website, and subsequently confirmed to Motor Authority by Ford spokesperson Elizabeth Kraft, who said prices for high-end models would hold steady.

2023 Ford F-150 Lightning (Photo Credit: Ford)

“We adjust pricing as a normal course of business due to rising material costs, market factors, and ongoing supply chain constraints,” Kraft said. “Demand for this breakthrough vehicle is strong and continues to grow.”

To keep up with the demand, Ford is adding a third shift at the Lightning’s Detroit assembly plant to increase production to 150,000 trucks annually, Kraft noted.

The new $57,869 base price applies to the fleet-oriented Lightning Pro model with the standard 98-kwh battery pack, and includes a $1,895 destination charge. The Lightning XLT standard range now starts at $65,369 with destination, up from $61,269 after the last price increase. For comparison, the same model cost $54,669 for 2022, although the difference also includes a $200 increase in the destination charge between model years.

The F-150 Lightning Pro model cost $41,669 when it went into production in April 2022. The latest increase means the price is up 38.9% since its launch.

2023 Ford F-150 Lightning (Photo Credit: Ford)

Prices for Lightning Pro and XLT models with the 131-kwh extended-range pack, as well the Lariat and Platinum trim levels, are unchanged, but Ford already raised prices on some of these variants earlier in the model year. The extended-range XLT got an $8,500 bump to $80,974, the Lariat increased to $85,974, and the Platinum’s base price was raised to $96,874.

Ford previously announced some updates for the Lightning’s sophomore model year, including slightly more range for the Lightning Pro, which is expected to get a 10-mile increase to 240 miles with the standard battery pack. Two new colors (Avalanche and Azure Gray metallic) have been added as well, along with an optional Pro Trailer Hitch Assist system. A police-ready Special Service Vehicle package was announced in July.