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Ford Slashes Prices on Mustang Mach-E Models Amid EV Market Shift

In response to declining sales and increased competition, Ford cuts prices of its 2023 Mustang Mach-E by up to $8,100 to remain competitive.

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Ford shows off the new model 2024 Ford Mustang Mach-E Rally during the Chicago Auto Show at McCormick Place convention center in Chicago, Illinois on February 8, 2024.The show will be open to the public on February 10 and run through February 19. (Photo by Jacek Boczarski/Anadolu via Getty Images)
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Overview

  • Ford Motor Co. announced price reductions on its Mustang Mach-E electric SUV by up to $8,100 after a 51% sales drop in January.
  • The price cuts aim to adapt to a changing market, with the lowest-priced 2023 model now starting at $39,895.
  • The adjustments reflect the broader EV market's shift from early adopters to a more price-sensitive early majority.
  • Ford's move comes amid a price war with Tesla, which has also been adjusting its prices to boost sales and market share.
  • The Mach-E's price reduction is part of Ford's strategy to focus on customer value and sales growth, despite losing eligibility for a $3,750 tax credit.