It’s officially the season of crazy price changes. Last August, Ford increased pricing for the 2023 Mustang Mach-E by $8,300 for the 2023 model year. It was a hefty increase that saw the electric SUV’s starting price tag rise to $48,195. Now, roughly five months after that announcement, Ford is back with updated pricing for the 2023 Mach-E, but this time around, pricing has been cut.
The American automaker recently announced that it’s looking to increase production of the Mach-E and “take advantage of streamlined costs” thanks to its new “EV supply chain coming online” to cut the electric SUV’s price. Depending on the trim level, pricing for the Mach-E has gone down by between $600 and $5,580. The Select eAWD Standard Range model sees the lowest drop in pricing by $600, while the GT Extended Range mode gets the largest cut of $5,900. Ford has also cut pricing for the Extended Range Battery Pack, as it’s now $1,600 cheaper than before.
Ford has put together a useful table of price changes for the 2023 Mach-E that you can see below.
| 2023 Mustang Mach-E | Former MSRP | Updated MSRP | Price Cut |
| Select RWD Standard Range | $ 46,895 | $45,995 | $ 900 |
| Select eAWD Standard Range | $ 49,595 | $48,995 | $ 600 |
| California Route 1 eAWD Extended Range | $ 63,575 | $57,995 | $5,580 |
| Premium RWD Standard Range | $ 54,975 | $50,995 | $3,980 |
| Premium eAWD Standard Range | $ 57,675 | $53,995 | $3,680 |
| GT Extended Range | $ 69,895 | $63,995 | $5,900 |
The price cuts for the 2023 Mach-E are effective immediately. Customers that have an order in for a Mach-E and are waiting for the EV to be delivered will automatically get the new price. Ford also said that it would be directly contacting customers that took delivery of a new Mach-E after January 1, 2023. So, there’s a possibility that the automaker could retroactively give owners the new price for their 2023 Mach-E.
Ford will also be introducing a special interest rate of 5.34% for the 2023 Mach-E for EVs that are ordered between January 30 and April 3, 2023.
While Ford didn’t say anything about Tesla in its press release, the timing for the 2023 Mach-E comes after Tesla announced large price cuts for the Model 3 and Model Y. Recently, Tesla cut the Model Y’s starting price by roughly $13,000 to a current MSRP of $53,490. Ford won’t come out and say it, but the recent price cut is to stay competitive with Tesla. The Blue Oval claims that the Mach-E was the third best-selling EV in the U.S. last year and the recent price cut is being made to keep the vehicle competitive in the segment.
“We are not going to cede ground to anyone,” said Marin Gjaja, Chief Customer Officer, Ford Model e. “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.”
Ford CEO Jim Farley took to Twitter to announce the changes for the 2023 Mach-E. “At @Ford, we want to make EVs more accessible, so we’re increasing #MustangMachE production & reducing prices across the Mach-E lineup. Scaling will shorten customer wait times. And with higher production, we’re reducing costs, which allows us share these savings with customers.”
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