If you’ve been on the fence about buying a new Ford Mustang Mach-E, good news: Ford has dropped prices across the lineup of its first battery-electric vehicle. At the low end, there’s a $900 drop on the RWD standard-range base model, listed at $45,995. At the other end is a $5,900 decrease for the GT Extended Range, which now carries a $63,995 MSRP.
In addition to the price cuts, Ford will also increase production of the Mustang Mach-E. The carmaker now plans to build 130,000 BEVs for the North American and European market, a massive increase from the previously planned 78,000. The production increase will in turn decrease wait times for new cars, a sticking point for drivers ready to trade hydrocarbons for electrons. Those who have already ordered new BEVs from Ford will get the lower prices as well.
|2023 Mustang Mach-E||Former MSRP||Updated MSRP||Change|
|Select RWD Standard Range||$46,895||$45,995||$900|
|Select eAWD Standard Range||$49,595||$48,995||$600|
|California Route 1 eAWD Extended Range||$63,575||$57,995||$5,580|
|Premium RWD Standard Range||$54,975||$50,995||$3,980|
|Premium eAWD Standard Range||$57,675||$53,995||$3,680|
|GT Extended Range||$69,895||$63,995||$5,900|
Ford’s move comes just two weeks after Tesla discounted some of its models by as much as 20 percent. At the bottom of the lineup, the Model 3 RWD is now $43,990—$3,000 cheaper than it was last year. The Model Y has been heavily discounted as well, with the Long Range and Performance models seeing a $13,000 discount.
“We are not going to cede ground to anyone. 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,” Marin Gjaja, chief customer officer of Ford Model e, said in a statement. “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.”
The price cuts will also bring more of the Mach-E lineup under the $55,000 cap for IRS BEV tax credits. Although Ford markets the Mustang Mach-E as an SUV, the IRS doesn’t agree, so the IRS’s $80,000 limit for SUVs does not apply here.
The Mustang Mach-E was the No. 3 BEV model in the US in 2022, with Ford saying that two-thirds of sales are to customers new to the carmaker.