Electric And Concept Cars
In the latest move in an EV price battle started by Tesla, Ford reduced the price of its all-electric Mustang Mach-E by as much as $4,000 while also improving range and other amenities.
Following factory upgrades, Ford said it is reopening its order book and getting ready to ramp up production of the vehicle in the second half of 2023. In 2023, Ford anticipates producing 130,000 vehicles at the site. According to a spokeswoman, the company's yearly production run rate will surpass 200,000 by the end of the year.
Ford has reduced the cost of the Mustang Mach-E for the second time since the year began.
As competition among EV customers intensifies, sacrifices are being made. Additionally, it comes after a quarter in which sales of the Mustang Mach-E lagged behind, declining 20% from the same quarter a year prior.
Ford reduced the price of its two entry-level models by $3,000 each. With an EPA estimated range of 250 miles, the rear-wheel drive Mustang Mach-E will now start at $42,995. With a starting price of $45,995, the all-wheel drive model will have a 226-mile range. The premium standard range and GT all-wheel drive extended range models had the biggest price cuts, totaling around $4,000, or almost 8%.