Amid the electric vehicle (EV) price war between Tesla and Ford, the US carmaker has announced a new price drop for its all-electric Mustang Mach-E.
Ford had launched the Mach-E back in November last year, and with the new price drop, it has become even more competitive against the likes of Tesla. The price cut is the result of Tesla’s aggressive pricing strategy for its EVs, starting with the Model 3.
The Mustang Mach-E is now available at an all-time low price of $44,995 – a reduction of around $6,000 – representing a discount of 12.2%.
The price includes a $1,500 incentive from the federal government, plus a possible additional incentive of up to $7,500 from local governments in certain states. The total savings could be as much as $14,000.
The Mustang Mach-E is an all-electric hatchback with a range of around 300 miles and can accelerate from 0 to 60mph in 3.2 seconds. It comes with an array of advanced driver-assist features, such as adaptive cruise control, lane-keep assist, and traffic-sign recognition.
The car also has Amazon Alexa built-in, allowing users to control the car with their voice and access a range of connected services.
The drop in price comes at an opportune moment for Ford, as Tesla recently announced a $25,000 base price for its upcoming Model Y – the electric equivalent of its best-selling Model 3 sedan.
The Model Y is expected to be the best-selling EV in the US, and is likely to poach some of the Mustang Mach-E’s potential buyers. With its reduced price, Ford is hoping to bring in more customers who may have been considering a Tesla EV.
In essence, the reduction in Mustang Mach-E’s pricing is an effort by Ford to stay competitive in the EV market. The new pricing clearly shows that Ford is not willing to be left behind as Tesla continues to gain ground.
Ford is also offering additional discounts for those who opt for the extended-range version of the Mustang Mach-E, with the car now available for $49,495 – a reduction of 15%. The extended-range version of the car is capable of a range of over 300 miles.
Finally, Ford is also offering an additional $2,500 discount on all Mustang Mach-E orders placed before the end of May 2021.
Ford’s move to drop the price of the Mustang Mach-E clearly shows the carmaker’s intent to stay relevant in the increasingly competitive EV market. With the new pricing, the car could prove to be a viable alternative to Tesla’s Model Y when it arrives later this year.
