Ford has cut the prices on the 2023 Mustang Mach-E as it reopens orders and ramps up production of the popular electric crossover. Most models receive price cuts between $3,000 to $4,000, Ford announced Tuesday.
The base Mustang Mach-E Select with the 72-kwh standard range battery pack has a $3,000 price drop, from $45,995 to $42,995. The price drop applies to both single-motor rear-wheel-drive models and dual-motor all-wheel-drive variants.
AWD models get a boost of 45 hp to 311 hp with the standard-range pack and 346 hp to the extended-range pack. The range gets a modest increase as well, with Ford targeting EPA ratings of 250 miles for standard range rear-wheel-drive models, and 226 miles for all-wheel drive.
But Ford increased the mandatory destination charge from $1,500 to $1,800 since its last price cut in January, which was a more modest drop of about $900. In August of 2022, the destination charge for a Mach-E was $1,100.
On the other invisible hand, the 2023 Mustang Mach-E qualifies for a $3,750 federal EV tax credit under the revised Inflation Reduction Act. Thus, the starting price for a Mach-E Select could be as low as $41,045, depending on a car buyer’s income tax burden.
The last Mach-E price cut in January followed Tesla cutting prices up to 20% across its lineup. Ford followed the electric vehicle sales leader again this month, with Tesla cutting the Model 3 price to $41,380 last month.
Price cuts on electric vehicles have become common this year as supply catches up with demand and more electric vehicles enter the market, accounting for nearly 6% of new car sales in 2022. The revised federal EV tax credit that favors domestic production of electric vehicles has had another influence in the rapidly fluctuating EV price wars. Both automakers raised prices in 2022.
The Mustang Mach-E Select comes well equipped with a 10.2-inch digital instrument cluster, 15.5-inch touchscreen with Android Auto and Apple CarPlay connectivity, wireless device charging, LED headlights, and 18-inch wheels. Standard driver-assist tech includes automatic emergency braking with pedestrian detection, blind-spot monitors, active lane control, and automatic high beams.
The Mach-E Premium gets an even bigger price cut of $4,000, lowering the price to $46,995 for RWD and $49,995 for AWD models. It adds a heated steering wheel, heated front seats with power adjustments, synthetic leather, a surround-view camera system, a trial for Ford’s BlueCruise hands-free driving system, and a Bang & Olufsen 10-speaker sound system.
The 91-kwh extended range battery pack available on Premium models still costs an extra $7,000, which is unchanged.
It’s noteworthy that the top GT model that comes standard with AWD and the extended-range pack gets a $4,000 price cut down to $59,995, without destination. The California Route 1 AWD with the extended-range pack only gets a $1,000 cut.
Orders are open now for the 2023 Ford Mustang Mach-E.