Getting your hands on an electric Ford has just become much cheaper, with the company cutting the cost of its Mustang Mach-E.
You can now pick up a 2023 Rear-Wheel Drive Mustang Mach-E for $39,895, according to Green Car Reports, marking a $3,100 price reduction.
But bigger savings can be made elsewhere, with an $8,100 cut on the Premium RWD (Extended Range), Premium All-Wheel Drive (Extended Range), and California Route 1 AWD. The former can be snagged for $45,895, while the latter two can be purchased for $48,895. Green Car Reports offered a full breakdown of the savings by model.
"We are adjusting pricing for MY23 models as we continue to adapt to the market to achieve the optimal mix of sales growth and customer value," Ford said in a statement passed on to Green Car Reports.
While that's an interesting explanation from the company, it's also possible that Ford is responding to its lack of sales, as well as market domination from Tesla.
As Reuters reported, via CNBC, Ford has said sales of the Mach-E in the United States fell by 51% in January, while the Mach-E and other models also lost eligibility for a $3,750 tax credit. The U.S. Treasury Department changed battery requirements so as to move away from Chinese-made components, and Ford models have been affected by the shift in policy.
Meanwhile, Tesla's Model Y was the best-selling vehicle worldwide regardless of powertrain in 2023, partially thanks to an aggressive price war instigated by the company.
But price reductions on 2023 Mach-E models might also be due to the company's expected 2024 release of a new iteration of the electric muscle car. According to Green Car Reports, Ford CEO Jim Farley has said the 2024 Mach-E will see notable changes relative to the previous model, so the company might be trying to shift stock.
Regardless, cheaper electric cars will provide a huge boost to consumers, as a report published in the Transportation Research Interdisciplinary Perspectives journal, shared by Science Direct, found that initial cost was the biggest barrier among customers looking to buy vehicles that produce zero tailpipe pollution.
If more clean-powered vehicles are on the road, that will reduce planet-warming gases produced on a daily basis, which is important as we all try to limit the unsustainable rise of global temperatures.
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