Ford Reduces Price on Mustang Mach-E EVs by Thousands of Dollars
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“Ford, the Detroit-based automaker, said that the price of Mach-E will be lowered by a range of $1,000 to $4,000. The sliced cost will make the starting price of Mach-E fall between $42,995 and $59,995.”
Ford Motor Company is lowering the starting price of its electric Mustang Mach-E by thousands of dollars once again as the company ramps up production and reopens order banks for the vehicle.
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Ford, the Detroit-based automaker said that the price of Mach-E will be lowered by a range of $1,000 to $4,000. The sliced cost will make the starting price of Mach-E fall between $42,995 and $59,995.
The price cuts are the latest in the electric vehicle market after Tesla cut prices several times this year while also slightly increasing prices on some models this week.
Ford said in a release, “The production increase for Mustang Mach-E in the second half of this year is part of Ford’s plan to scale electric vehicles and make them more accessible and affordable for customers. its BlueCruise hands-free driver-assistance system will be available on all Mustang Mach-E models. A complimentary 90-day trial of the system will be included for new owners. Ford said a three-year subscription for BlueCruise will cost $2,100, up from $1,900.”
Ford last announced a $600 price cut for the Mach-E to $5,900 in January, just weeks after Tesla revealed similar price cuts for vehicles like the Model Y, which is akin to the Mach-E.
Both automakers are leaders and trying to balance growth and earnings potential when it comes to electric vehicles (EVs)- something that has been under the lens of Wall Street analysts to better determine the company’s strategies with vehicles.
Adam Jonas, Morgan Stanley Analyst, said, “Like other automakers, Ford must decide what kind of EV strategy to pursue: Grow fast and burn cash or a more focused approach that prioritizes capital discipline,”.