Ford Motor Co. in Dearborn today announced it is significantly increasing production of the Mustang Mach-E this year to help reduce customer wait times and to take advantage of streamlined costs to reduce prices across the board.
The move coincides with Tesla’s recent news that it is dropping prices. At the same time, consumers are taking a “wait-and-see approach” to EVs, according to a recent report in The Washington Post.
With years of subsidies, EVs are a still lagging in sales — representing 5.4 percent of the U.S. market last year — while recent federal subsidies of up to $7,500 for EVs built in North America are confusing. High prices, range anxiety, expensive setup costs, a lack of charging infrastructure, especially in urban areas, and the sourcing of raw battery materials using child labor in Africa also challenge consumer acceptance.
Ford states its production increase of the popular Mach-E is a key part of the Ford+ Plan, underscoring the company’s commitment to lead the EV revolution by increasing the value of its EVs for customers, continuing to position Mustang Mach-E as a compelling option for those looking for an electric SUV, and growing market share.
Ford currently offers EV customers a full-size truck, a SUV, and a van — and has secured the batteries and raw material to scale production of all these models in 2023.
The automaker lowered prices on most of its Mach-E lineup, ranging from a $600 drop for the Select eAWD Standard Range model to $48,995, and a decline of $5,900 for the GT Extended Range model to $63,995. Models with extended battery range will see a savings of $1,600 to $7,000, while pricing for the Nite Pony Appearance Package and the GT Performance Package remain unchanged.
Mustang Mach-E delivers an available EPA-estimated 300+ mile range and zero tailpipe emissions. It is available with BlueCruise hands-free driving on more than 130,000 miles of highway and can be updated through over-the-air Ford Power-Up software updates.
All Ford EV customers also have access to more than 79,000 charging plugs and growing through the BlueOval Charge Network, North America’s largest public charging network.
Almost all of Mustang Mach-E’s growth to date is incremental to the brand with two-thirds of Mustang Mach-E customers coming from competitor brands.
The Mustang Mach-E was the No. 3 EV model in the U.S. in 2022 and the updated pricing is part of Ford’s plan to keep the SUV competitive in a rapidly changing market, while strengthening Ford’s position as the No. 2 U.S. EV manufacturer as it continues to scale that part of the business.
“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,” says Marin Gjaja, chief customer officer of Ford Model e.
MSRP excludes destination/delivery fee plus government fees and taxes, any finance charges, any dealer processing charge, any electronic filing charge, and any emission testing charge.
Existing Mustang Mach-E customers awaiting delivery of their vehicle will automatically receive the adjusted price along with customers with a sales date after Jan. 1, 2023. For customers who already have their Mustang Mach-E, Ford will reach out directly.
“Part of our mission at Ford is to treat customers like family,” says Gjaja. “We want our customers to know they made the right decision by choosing a Mustang Mach-E, and we’ll continue to play a proactive role in doing the right thing for those joining the Ford family.”
In addition to adjusted pricing on Mustang Mach-E vehicles ordered between Jan. 30 and April 3, 2023, Ford Credit will be offering special finance rates as low as 5.34 percent.
“This is a natural companion to the new Mach-E pricing,” says Craig Carrington, executive vice president for North America at Ford Credit. “The offer is straightforward and competitive, enabling customers to lock in today’s rates, even if rates go up between order and delivery.”
Visit www.Ford.com for full range, pricing, and specs on the electric Mustang Mach-E.
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