Ford Cuts Mustang Mach-E Prices

(RTTNews) - Ford Motor Company (F) announced significant price cuts for its 2023 Mustang Mach-E models by up to $8,100, as sales of the all-electric SUV dropped by 51% in January compared to the same period in 2023.

These price revisions follow the Mach-E's disqualification for a $3,750 tax credit as the Biden administration imposed stricter regulations on stimulus measures, preventing EV manufacturers from using battery materials from China and other foreign adversaries.

The new prices are aimed at keeping the Mustang Mach-E competitive in the market. The base model of the 2023 Mustang Mach-E will now cost $39,895, which is a reduction of $3,100 from its previous cost of $42,995. Similarly, the high-end variant of the Mach-E GT will now cost $52,395, which is $7,600 less than its previous retail price.

Other versions, including the extended-range premium version, will also see a price cut of $8,100, making the new retail price for this version $48,895.

In addition to the price cuts, Ford is also offering new incentives for leased vehicles. If the vehicle is leased through Ford Credit, the company's financial division, customers will receive a $7,500 "Red Carpet Lease cash incentive," in addition to the federal EV tax credit that Ford Credit passes on to consumers, resulting in lower monthly payments.

Ford also announced a special price break for its employees, their family members, and friends. They will receive an additional $2,750 off the purchase of the all-electric SUV, in addition to cost cuts of up to $8,100, and offers including 0% interest.

According to a statement by Ford spokesperson Martin Gunsberg, the latest price cuts are a response to the market's needs and are aimed at achieving the optimal mix of sales growth and customer value.