Ford announced today that it is slashing prices across all trims of its popular Mustang Mach-E electric SUV amid a growing EV price war.
We reported that we saw Tesla’s massive price cuts earlier this month as the start of an EV price war.
A few companies had to reactively slash prices.
Now Ford is announcing the same for the Mustang Mach-E. The automaker claims that it is due to a “new EV supply chain coming online,” but as most people know, companies generally try to sell products for as much as they can sell them. Prices are generally adjusted to create demand.
Ford wrote about its price adjustments today:
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, making Mustang Mach-E even more accessible to customers and keeping it competitive in the marketplace.
The Model Y saw the biggest price reduction in Tesla’s own price adjustments earlier this month and the model is seen as a direct competitor to the Mach-E.
The price cuts are not as significant as Tesla’s, but they do keep the two models in a similar range with price reductions between $600 and $5,900 per model.
Here are all the price adjustments announced by Ford on the Mustang Mach-E today:
As you can see, Ford also dropped the price of the extended range battery pack by $1,600.
The price applies to customers going forward, but Ford also appears to say that it plans to offer some rebates for recent buyers:
Existing Mustang Mach-E customers awaiting delivery of their vehicle will automatically receive the adjusted price and for customers with a sale date after Jan. 1, 2023, and already have their Mustang Mach-E, Ford will reach out with a private offer.
Along with the price drop, Ford indicates that it plans to ramp up production of the Mach-E this year with the updated supply chain.
Ford delivered just short of 40,000 Mustang Mach-E electric vehicles in the US in 2022. Overall, it has a capacity of about 80,000 units a year, and it aims to increase that to 130,000 units a year.
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