More Production, Less Money
Spurred, perhaps, by significant price drops on the Tesla Model 3 and Model Y, Ford has announced it is dropping prices of the Mustang Mach-E across the board. The company is also significantly increasing production of the top-selling electric SUV to meet demand.
With a new EV supply chain coming online to support the increased numbers, Ford is ramping up production of the Mustang Mach-E to help reduce customer wait times. Those new supply chains are also helping Ford reduce prices across the board, making the Mustang Mach-E more accessible, as well as keeping it competitive with the Model Y, its closest competitor.
The production increase underscores Ford’s commitment delivering significant volumes of electric cars. It positions Mustang Mach-E, which we called one of our favorite EVs, as a compelling option for those looking for an electric SUV, and should help Ford grow its market share.
Price Drops Up to $5,900
How much have prices dropped? The starting MSRP of the “base” Select RWD standard-range model drops $900, to $45,995, while the extended-range Select has dropped $600 to $48,995. The California Route 1 eAWD extended-range model, previously $63,575, has dropped by $5,580 to $57,995. The Premium RWD standard-range Mach-E is now $50,995, $3,980 less than before, while the Premium eAWD standard range model is now $53,995, a $3,680 drop. The high-performance GT extended range model gets the biggest price cut, $5,900, and now lists at $63,995. The extended-range battery option, available on some models, receives a $1,600 drop in MSRP from $8,600 to $7,000.
Existing Mustang Mach-E customers who have ordered and are awaiting delivery of their vehicle will automatically receive the adjusted price. For customers with a sale date after Jan. 1, 2023, and already have their Mustang Mach-E, Ford will reach out directly. In addition to adjusted pricing, on Mustang Mach-E vehicles ordered between Jan. 30 and April 3, 2023, Ford Credit will be offering special rates as low as 5.34% APR on approved credit.
A Winning Formula
The Mustang Mach-E was the third-best-selling electric vehicle in America, and that’s because it offers such an appealing combination of attributes. It looks great while offering an amazing amount of interior room thanks to its long 117-inch wheelbase. We also really like the Mach-E’s control system. It has a giant screen for infotainment and climate control, but combined with physical switches for important functions. The driving experience is excellent, too. The Mach-E handles beautifully and its regenerative braking isn’t too aggressive.
Proof that it’s a winning formula is that two-thirds of the Mustang Mach-E’s sales growth has come from customers coming from competitor brands. These price cuts should help keep the Mach-E competitive in a rapidly changing market, and will help strengthen Ford’s position as the number-two EV manufacturer in the U.S. The company says improvements in its supply chain should also help rapidly scale up production of its full-size F-150 Lightning electric pickup and other EV models to come.