Ford Mustang Mach-E is presented at the New York International Auto Show, in Manhattan, New York City, April 5, 2023.
David Dee Delgado | Reuters
DETROIT – Ford Motor is once again cutting the starting prices of its electric Mustang Mach-E by thousands of dollars, as the automaker increases production of the crossover and reopens order banks for the vehicle.
The Detroit automaker said Tuesday it will lower pricing of the Mach-E by a range of $1,000 to $4,000. The cuts will make the starting price of the vehicle fall between $42,995 and $59,995.
The cuts are the latest price adjustments in the electric vehicle market following Tesla cutting prices several times this year, but also slightly raising prices on some models this week.
Ford last announced it was cutting prices of the Mach-E by $600 to $5,900 in January, weeks after Tesla announced similar price cuts for vehicles such as its Model Y, which is comparable to the Mach-E.
Automakers are attempting to balance growth and losses/profits when it comes to EVs — something Wall Street analysts have been watching to better determine company’s strategies with the vehicles.
This is a developing story. Please check back for additional details.
