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On Monday, Ford lowered the price of the Mustang Mach-E for the 2023 model year, and increased production of the electric crossover SUV.
Prices dropped overall, though some versions got a bigger reduction than others. The rear-wheel-drive Standard Range model Basic Select receives $900 off to $47,495 including a mandatory $1,500 destination fee. With all-wheel drive, the price cut is only $600, bringing the MSRP to $50,495.
Higher-tier models get a much bigger discount. California Route 1 base price with all-wheel drive and Extended Range battery pack drops $5,580 to $59,495 with destinations, while the Premium Standard Range now starts at $52,495 with rear-wheel drive and $55,495 with all-wheel drive, representing a cut of $3,980 and $3,980 respectively. $3,680. Ford also lowered the price of the Extended Range battery by $1,600 to $7,000.
2023 Ford Mustang Mach-E
The all-wheel-drive Mach-E GT Extended Range gets the biggest price cut, $5,900, which brings the base price down to $65,495. However, the price of the GT Performance Package is unchanged at $6,000, and neither is the $800 price of the Nite Pony Appearance Package.
Longtime customers waiting for delivery of the vehicle will automatically receive the lower price, and Ford will contact customers directly with a sales date after January 1, 2023, who already own the car, the automaker said in a press release.
Notably, the structured price cut puts the Standard Range Mustang Mach-E under the new federal EV tax credit limit of $55,000 for passenger cars even though Ford is marketing the Mach-E as a crossover SUV. Extended Range models are still priced excluding the tax credit.
Ford is also increasing production of the Mach-E. The automaker is building 78,000 electric crossovers in 2022, but is targeting 130,000 for 2023, a spokesperson told Motor Authority.
2023 Ford Mustang Mach-E
Increased production and reduced prices made possible by a strengthened EV supply chain, said the Ford release. Ford and other automakers blame supply chain issues for a string of EV price hikes throughout 2022. Multiple price hikes for the F-150 Lightning mean the pickup’s base price is 38.9% higher in December 2022 than at launch.
There are now some signs that the rise in EV prices is easing. Earlier this month, Tesla lowered prices across its range, helping undo a string of price hikes by the automaker in 2022.
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