Ford is reopening orders for its all-electric Mustang Mach-E while also bumping up the crossover’s EPA-estimated range and slashing prices all the way down the lineup. The move comes as EV prices remain in flux amid Tesla’s own price cuts and ongoing uncertainty around the federal tax credit.
The Mustang Mach-E is currently Ford’s bestselling electric vehicle and third best in the overall category, which has helped propel the automaker to its status as the No. 2 seller of EVs in the US. Ford recently said it was aiming to double the number of Mach-Es built per hour in 2023 to hit a run rate of 210,000 by the end of the year.
Orders for the Mach-E were briefly closed as the company completed renovations at its plant in Mexico. And to help sweeten the pot, Ford has also improved the Mach-E’s range, increasing it to an EPA estimate of 250 miles for rear-wheel drive models and 226 miles for dual-motor all-wheel drive versions.
Here’s how the price cuts break down:
Ford Mustang Mach-E price cuts, 2023 (part 2)
|2023 Mustang Mach-E||Current MSRP||Updated MSRP||Delta|
|Select RWD Standard Range||$45,995||$42,995||$3,000|
|Select AWD Standard Range||$48,995||$45,995||$3,000|
|California Route 1 AWD Extended Range||$57,995||$56,995||$1,000|
|Premium RWD Standard Range||$50,995||$46,995||$4,000|
|Premium AWD Standard Range||$53,995||$49,995||$4,000|
|GT Extended Range||$63,995||$59,995||$4,000|
|Extended Range Battery for Premium||$7,000||$7,000||$0|
|Mustang Nite Pony Package||$800||$800||$0|
|GT Performance Edition Package||$6,000||$5,000||$1,000|
|BlueCruise 1.2 (3 years included)||1,900||$2,100||$200|
|Comfort Package Lite||$N/A||$1,500||N/A|
The price cuts were announced the same week that Ford posted its first quarter earnings, in which it reported that Mustang Mach-E sales in the US fell 20 percent. Ford reasoned that shipments were limited during the first three months of the year while its factory was upgraded to account for an increased production volume.
While much ink has been spilled about an impending EV price war, most of the moves currently take place within just two companies: Tesla and Ford. Tesla has slashed prices a grand total of five times since January 2023 as demand for its vehicles appeared to falter. It has also raised prices slightly, most recently by around $250 per model in the US.
Meanwhile, Ford’s EV prices are on a similar rollercoaster. Mustang Mach-E prices went up last year, then down earlier this year, and now, down again. Meanwhile, the F-150 Lightning is retailing for around $20,000 more than the originally announced price. But while the F-150 Lightning is eligible for the full $7,500 EV tax credit, the Mustang Mach-E only qualifies for half of that, or $3,750.
But so far, other automakers have declined to follow Tesla and Ford into a price war, content to sit back and let things shake out.
Update May 3rd 9:25AM ET: Updated to include sales figures from Ford’s Q1 earnings.