Now might be a good time if you’ve been holding back the idea of getting into a new electric. Ford Mustang Mach-E prices are falling and at the same time plans to increase production. What kind of savings does Ford offer on its popular electric car?
Ford is slashing Mustang Mach-E prices by $600 or more.
This morning, Ford announced it will cut prices and ramp up production of its popular Mustang. Ford says it will drop the price of the Mach-E from $600 to $5,900 to make it more competitive with the Tesla Model Y. The average price drop is $4,500, depending on which model you choose. Tesla recently dropped the prices of the Model Y, leading to an increase in sales in recent weeks. However, Model Y prices went as high as $13,000 in some cases.
ranges from $53,500 to $57,000.
| Make and model | Price |
| 2023 Ford Mustang Mach-E Select | $45,995 |
| 2023 Ford Mustang Mach-E GT | $63,995 |
| 2023 Ford Mustang Mach-E Premium | $50,995 |
| 2023 Ford Mustang Mach-E California Route 1 | $57,995 |
| 2023 Tesla Model Y long range | $53,490 |
| 2023 Tesla Model Y Performance | $56,990 |
In 2022, CNBC reported that Ford’s Mach-E helped the automaker take second place for a best-selling electric vehicle. Ford is still trailing Tesla by far, selling 65,000 EVs in the US in 2022. Tesla estimates it has sold more than 520,000 EVs in the same period.
In more good news, Ford also says customers waiting for a Mach-E will automatically get the price adjusted. Ford says it will come up with some offers for those who have taken EV orders between now and early this year. Those interested in using Ford Credit between January 30 and April 3 will also receive special rates starting at 5.34%.
At the time of publishing, it says 2023 Ford Mustang Mach-E EVs under $55,000 qualify for the federal tax credit. Both Tesla Model Y trims are currently eligible for the $7,500 federal tax credit, that may change in March. Higher prices have made both vehicles ineligible due to recent changes in the new year.
If you’ve been waiting to order a Mach-E, it might be time.
The automaker didn’t announce which trim levels will be profitable after the price cut, but it expects to report further financial results later this year. Ford’s electric vehicle business, known as Model e, has sales and financial information integrated with the traditional vehicle sales side.
“We want to make money. Do not get me wrong; we absolutely want to make money. Trust me, I know we have to try to make more profits because we will be publicly responsible for that number,” Gjaja commented. Ford is upgrading its manufacturing facility in Mexico, which is expected to resume production late next month.
While prices are low right now, that could change at any time. If Tesla Model Y sales are any indication, you don’t want to wait too long to place an order. Depending on when the delivery happens, those at the back of the queue may experience delays or other problems.
