Automotive: Ford slashes price of Mustang EV almost $6K

Ford announced Jan. 30 it would increase production and cut prices for its 2023 all-electric Ford Mustang Mach-E SUV, by up to $5,900 for some models, to spur sales following a price cut by Tesla earlier this month.

“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,” Ford Chief Customer Officer for electric cars Marin Gjaja 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.”

Base 2023 Mustang Mach-E models with rear-wheel drive and a standard-range battery now cost $47,495, including mandatory destination fees, which is a $900 reduction. Opting for all-wheel drive adds $3,000 to that price, making it $50,495 for a Mach-E Select eAWD Standard Range, which is $600 cheaper than its previous price.