In response to Tesla, Ford lowers the prices of its electric car Mustang Mach-E

Washington – Ford announced Monday that it will lower the prices of its flagship electric vehicle, the SUV Mustang Mach-Eat the same time that it will increase its production, after the decision of Tesla, the main American manufacturer of electric vehicles, to cut its prices.

The sales announced today by the American manufacturer represent cuts of between 1 and 9% in the different versions of the Mustang Mach-E, which in 2022 was the third best-selling electric vehicle (EV) in the United States.

After the sales, the most affordable version of the Mustang Mach-E, with rear-wheel drive and standard battery, now has a suggested retail price of $45,995, while the most expensive, GT Extended Range, sells for $69,895.

The reduction allows three versions of the Mustang Mach-E to qualify for federal tax breaks of $7,500.

In addition, Ford Credit, the financial arm of Ford, will offer credits with a special interest of 5.34% for the purchase of the Mustang Mach-E.

Ford justified the downgrades to keep the model “competitive in a rapidly changing market” while also allowing the company to remain the No. 2 EV maker in the United States.

In mid-January, Tesla announced the reduction of the prices of its vehicles in North America due to the drop in demand. The reduction was between 6 and 20%, depending on the model.

“We are not going to give ground to anyone. We are producing more EVs to reduce customer wait times, offer competitive prices and work to provide owners with an experience like no other,” Marin Gjaja, Ford Model E Customer Director, said in a statement.

Users who have already purchased the Mustang Mach-E and are awaiting delivery of the vehicle will receive the discounts, which will also apply to those who purchased their vehicles on or after January 1, 2023 and have already received them.