Ford Slashes Mach-E Prices; Increases Production to 130,000 Units

Did Tesla start an electric crossover price war?

2022 Ford Mustang Mach-E GT Performance Edition Exterior Front Quarter

Tom Moloughney

By: Tom Moloughney

Jan 30, 2023 at 8:30am ET

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Ford announced today it is increasing production of the Mustang Mach-e while simultaneously slashing pricing across the board for its popular all-electric crossover.

While the company wouldn't attribute the price cuts to Tesla's recent drastic Model Y price decrease, Marin Gjaja, Ford Model e's Chief Customer Officer said "we have a different product (then Tesla); we have different customers". That said, the timing is suspect. Xpeng Motors also initiated price cuts in direct response to Tesla, leading us to speculate if an EV price war was about to begin.

Ford Mustang Mach-e in red

Ford Mustang Mach-E in red

The price cuts affect every model and vary from as little as $600 to as much as $5,900. The cost of the extended-range battery option has also been reduced from $8,600 to $7,000.

“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,” said Marin Gjaja, Chief Customer Officer, Ford Model e. “Our customers are at the center of everything we do – as we continue to build thrilling and exciting electric vehicles, we will continue to push the boundaries to make EVs more accessible for everybody.”

Increasing Production

Two months ago, we reported that Ford had produced its 150,000th Mustang Mach-E. That was after nearly two years of making the Mach-E. Therefore the announcement that the company was increasing production to 130,000 annually is proof that Ford believes the Mustang Mach-E can indeed succeed in the increasingly competitive electric crossover/compact SUV segment.

We're going from 78,000 a year to 130,000 year... and we think we actually can stretch that a bit further over time - Marin Gjaja, Chief Customer Officer, Ford Model e

Considering the current run rate is 78,000 per year, Ford is increasing Mach-E production by a whopping 67%, and will now produce 130,000 Mach-E's annually, with their sights on adding even more volume in the future.

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Conquest Sales

Ford told us that the vast majority of Mustang Mach-E’s growth so far is incremental to the brand with two-thirds of its customers coming from competitor brands.

Additionally, the Mach-E was the third best-selling electric vehicle model in the U.S. in 2022 and the updated pricing will contribute to keeping the plug-in pony in a strong position as the competition continues to strengthen.

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