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Ford Is Slashing Mustang Mach-E Prices For 2023

Road & Track 3/8/2023 Lucas Bell

Following Tesla Motors’ recent pricing adjustment, with the Model 3 and Model Y getting deep price cuts, Ford announced it's reducing the price of the 2023 Mustang Mach-E by up to $5900.

According to the Blue Oval, the Mustang Mach-E was the third most popular electric vehicle in the United States in 2022. That ultimately helped Ford secure the number-two spot in U.S. EV sales last year, behind Tesla. As Ford's revised EV supply chain is slated to come online in 2023, the automaker believes it will be able to sell even more Mach-E SUVs than before, all at a faster rate and at a more affordable price than previous units.

“We are not going to cede ground to anyone,” said Ford Model E chief customer officer Marin Gjaja in a statement. “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. Our customers are at the center of everything we do—as we continue to build thrilling and exciting electric vehicles, we will continue to push the boundaries to make EVs more accessible for everybody.”

2021 ford mustang mach e first edition all wheel drive long range © Mack Hogan 2021 ford mustang mach e first edition all wheel drive long range

The Mustang Mach-E Select eAWD Standard Range receives the smallest price reduction for 2023, down just $600 to $48,995. The rear-drive Select model fares slightly better with a $900 discount, totaling an updated MSRP of $45,995. The California Route 1 and GT Extended Range models see the largest price reductions by far, with discounts of $5580 and $5900. The Premium Standard Range models in both RWD and AWD also come down a bit in price, with discounts of $3980 and $3690, respectively. All together, the price of a Mach-E averages out to about $4500 below where it stood in 2022. Unfortunately, there is no price reduction available for the Mustang Mach-E GT with the standard battery back.

It is worth noting that Tesla’s Model Y SUV, which competes against the Mach-E, saw its prices reduced by as much as $13,000 late last month. That monumental shift in pricing made room for the Tesla SUV to qualify for the revised federal EV tax credit system. It isn’t shocking to see Ford try to dampen whatever market share gains that decision could bring Tesla in the coming months as a result. Gjaja even told the Detroit Free Press that Ford aims to increase Mach-E production from 78,000 to 130,000 units for North America and Europe in 2023.

2021 ford mustang mach e first edition all wheel drive long range © Mack Hogan 2021 ford mustang mach e first edition all wheel drive long range

If you are an existing Mach-E customer waiting for your SUV to be delivered, Ford will retroactively apply the new pricing model to your purchase. If you’ve placed an order with a sales date after January 1, 2023, expect to hear from Ford in short order with an offer of some kind. If the new pricing model is enough to tip your interest in a Mach-E, it is also worth noting that the automaker will offer special finance deals over the next few months. From January 30 through April 3, select Mach-E customers will be eligible for a special rate as low as 5.34 percent through Ford Credit. Whether or not this is a strong enough financial incentive to draw customers away from Elon Musk will have to be seen.

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