Following Tesla Price Cuts, Ford Slashes Mach E EV Prices As Well
Not long ago, Tesla could probably charge whatever it (or Elon) wanted – with reason, maybe – for it’s then still-revolutionary electric cars. But a sudden surge in competition from legacy brands playing catch-up has finally, well, seemed to have caught up to Musk’s biggest baby, forcing the discounts.
One of those legacy brands who scrambled and gambled on an EV future is Ford, and following the new discounts on the broad-market Tesla models, Ford has announced that prices on it’s likewise popular Mach E Mustang will also be coming down, sometimes significantly, depending on the model.
“With its new EV supply chain coming online, Ford is significantly increasing production of the Mustang Mach-E this year to help reduce customer wait times and to take advantage of streamlined costs to reduce prices across the board,” Ford said in a press release Monday. The company said that following widely publicized parts and compenent shortages over the past couple of years that have affected most automakers world-wide, Ford at least has the batteries in stock to” to scale production of all these models in 2023.” That includes their new Transit electric cargo vans and F-150 Lightning pickup truck, which is currently showing as sold out for this model on the Ford website.
How much less is the Mach E going to cost? The biggest discount applies to the top-spec $69,895 GT Extended Range model, which will drop $5,900 to $63,995y 10% price cut. The GT features all-wheel drive, 270 miles of range and a 0-60 time of just 3.8 seconds.
The California Route 1 eAWD Extended Range variant, which previously rang in at $63,575 will now go for $57,995, a saving of $5,580. The mid-tier AWD Premium Mach E also gets a significant discount of $3,680, from $57,675 to $53,995. Even the base Mach E will have a price cut of $900 to bring it to $45,995.
Demand continues to be strong for the Mustang Mach E, according to Ford, but they clearly understand that Tesla remains the major player in the EV segment. “We are not going to cede ground to anyone. We are producing more EVs to reduce customer wait times, offering competitive pricing and working to create an ownership experience that is second to none,” said Marin Gjaja, Chief Customer Officer, Ford Model e, in the company press release.