Ford Makes Mach-E Price Cuts, Taking a Loss to Boost Sales
New pricing on the Mustang Mach-E While Cranking Up Production
Ford announced significant Mustang Mach-E price cuts, up to nearly $6,000 in some cases.
The company has said the cuts mean some of the models will sell at a loss, but increased sales, scaled production costs, and a larger market share could pay off down the road.
Here’s what Ford’s big boss Jim Farley said, “We want to make EVs more accessible, so we’re increasing production and reducing prices across the Mach-E lineup. Scaling will shorten customer wait times. And with higher production, we’re reducing costs, which allows us [to] share these savings with customers.”
The Mach-E sold nearly 40,000 units last year, and Ford plans to boost production to 130,000 cars yearly.
Competing With Tesla Cuts
These Mach-E price cuts come after Tesla shaved prices to qualify for the EV Tax Credit. While Tesla’s price cuts are larger than Ford’s, Ford will be extending the savings to recent buyers and anyone with a current pre-order as well.
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