Ford has announced significant price reductions for the 2023 Mustang Mach-E, making the popular electric SUV more accessible to buyers. This move marks a notable shift in the competitive EV landscape, particularly in the ongoing price war with Tesla. For the first time, certain Mach-E models are now available for under $40,000, signaling a major win for consumers seeking affordable electric vehicles.
The Mustang Mach-E has established itself as a strong contender in the electric SUV market, ranking as the second best-selling in the US last year. However, this success has been hard-fought, coming amidst intense price competition, primarily with EV market leader Tesla. These price adjustments by Ford reflect the evolving dynamics of the EV market, where sales growth is moderating, and price sensitivity is becoming increasingly important for consumers.
Speaking on the price adjustments, Ford representative Martin Gunsberg stated that these changes are designed “to adapt to the market to achieve the optimal mix of sales growth and customer value.” This strategic pricing update aims to stimulate sales while offering better value to customers in a competitive market.
Let’s delve into the specifics of the Mustang Ev Price cuts. The Premium trims, known for their extended range batteries and available in both rear-wheel and all-wheel drive configurations, receive the most substantial discounts, with prices reduced by a significant $8,100. Notably, the Select RWD trim now dips below the $40,000 mark, a key psychological price point for many car buyers and a considerable achievement for Ford’s electric flagship SUV. The chart below breaks down the previous and new MSRP for each trim level, illustrating the extent of these price reductions.
Ford is also sweetening the deal for customers opting to lease. A new “Red Carpet Lease cash incentive” offers a substantial $7,500 discount when leasing a Mustang Mach-E through Ford Credit, Ford’s financing arm. This incentive is designed to be used in conjunction with the federal EV tax credit, which Ford Credit passes on to the lessee, resulting in more attractive monthly lease payments.
It’s important to note that while the Mustang Mach-E qualifies for the $7,500 EV tax credit when leased, it is currently not eligible for the same credit for buyers who choose to purchase or finance due to battery supply chain regulations. This makes leasing an even more compelling option for consumers looking to maximize savings on the Mustang EV price.
In conclusion, Ford’s price cuts on the Mustang Mach-E represent a significant move to enhance its competitiveness in the EV market. By lowering the Mustang EV price, especially on popular trims and through attractive leasing incentives, Ford is making its electric SUV more appealing to a wider range of buyers in an increasingly price-conscious market.
Alt text for image: 2023 Ford Mustang Mach-E Price Reductions by Trim. Image shows the MSRP price cuts for different Mustang Mach-E models including Select, Premium, and GT, highlighting significant savings for EV buyers.
