2023 Ford Mustang Mach-E Gets a Price Cut To Keep Up With the Tesla Model Y

Ford Mustang Mach-E 7 photos
Photo: Ford
Ford Mustang Mach-EFord Mustang Mach-EFord Mustang Mach-EFord Mustang Mach-EFord Mustang Mach-EFord F-150 Lightning
The demand for EVs has slowed down, and the EV market is constantly shrinking. To stay competitive, automakers are slicing off prices. The Ford Mustang Mach-E has joined the price-cutting bandwagon. Zero percent financing is also part of the plan.
Tesla is doing it, so Ford has to do it in order to stay in the sales race. The Dearborn-based carmaker has offered several discounts over the past few months in order to help the Mustang Mach-E keep up with the Tesla Model Y.

It is a move that makes it eligible for the X-Plan, the discount program that gives employees of Ford Partner Companies & Friends, family, and neighbors special pricing on the carmaker's models.

However, the Ford Mustang Mach-E is not on the list of vehicles eligible for federal clean energy tax credits, which will surely cause a slump in sales. The Blue Oval is trying to counteract by slashing the price of its 2023 model year crossover, thus making room for the 2024 models. Furthermore, last month, we reported about thousands of Mach-Es piling up at the dealers.

For instance, those who pick an example with the entry-level Select trim from the inventory will pay $3,100 less than before. This is how the Mustang Mach-E Select RWD can be purchased for $39,895 or $42,895 if the all-wheel drive option box is checked.

For the Premium Standard Range, the discount is of $4,100, while the GT is $7,600 more affordable now.

The most significant price cut is $8,100 for the Premium Extended Range and California Route 1 versions. The move makes the Premium Extended Range drop from the usual $56,995 to $48,895.

To lure customers, Ford Credit is offering zero percent financing for 72 months and a $7,500 cash incentive on vehicles that can be applied immediately to lower monthly payments.

We can expect the same move from Tesla for its Model Y, considering that the updated version is on its way. Tesla has to clear its inventory in order to make room for the refreshed crossover.

Ford has also sliced prices for the F-150 Lightning

Customers can also benefit from huge discounts for F-150 Lightnings from the inventory for all of the three trims available: Lariat, XLT, and Pro, which also qualify for the $7,500 federal tax credit.

Ford slashed $7,500 from the price of the XLT Extended Range and $5,000 from that of the Lariat Standard and Extended Range. Meanwhile, the Platinum is now offered with a massive discount of $12,500.

All of the deals are only available for the 2023 F-150 Lightning. The 2024 model year is not undergoing any price cuts for the moment.

2023 was a record year for the Ford-branded electric models in terms of sales. The F-150 Lightning sales were up 55 percent, while 3 percent more customers chose a Mustang Mach-E.
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