The 2024 Ford Mustang Mach-E Just Got More Expensive

Except for the range-topping Rally, which is actually cheaper than before.

2024 Ford Mustang Mach-E premium first drive.

Iulian Dnistran

By: Iulian Dnistran

Jul 24, 2024 at 9:30am ET

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After dropping prices for the 2023 and 2024 Mustang Mach-E in March, Ford has now partially reversed course and increased the MSRP for most of the electric crossover's trim levels.

According to the company’s online configurator, all but one version of the 2024 Ford Mustang Mach-E got more expensive, but that’s mostly because the destination fee is now higher than before, going up from $1,800 in March to $1,995.

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$1,000 more expensive than the Tesla Model Y

After the latest price adjustment, the 2024 Ford Mustang Mach-E is precisely $1,000 more expensive than its biggest rival, the Tesla Model Y, when looking at the base versions of both cars. Unfortunately for Ford, the Model Y is also eligible for the $7,500 tax credit, whereas the Mustang Mach-E isn't.

The only trim level that was left out of the price hike wagon and is more affordable is the Rally, which now retails for $60,990 (including destination), $1,000 less than before. The biggest increase was applied to the GT trim, which starts at $56,990, as well as the Select with the Extended Range battery, both of which are up $1,195 compared to the previous price adjustment.

Gallery: 2024 Ford Mustang Mach-E Rally First Drive

2024 Ford Mustang Mach-E Rally First Drive

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The Model Y starts at $44,990 for the Long Range Rear-Wheel Drive version with an estimated range of 320 miles. By comparison, the cheapest 2024 Mustang Mach-E, the Select RWD, has an EPA-estimated range of 250 miles. Upgrade to the $45,990 Premium RWD version with the Extended Range battery, however, and that figure goes up to 320 miles.

If buying, Ford’s crossover isn’t eligible for the $7,500 tax credit, whereas the Tesla Model Y is, making the Mustang Mach-E a tougher sell. If leasing (the $7,500 credit is available via a loophole in the guidelines) or financing is your thing, you should know that Ford has some pretty appealing offers, like a 0% interest rate on financing for 60 months.

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