NEWS

Pony Down: 2023 Ford Mustang Mach-E Prices Drop Up to $8,100

ford mustang mach e premium 2023 50 exterior front angle scaled jpg 2023 Ford Mustang Mach-E | Cars.com photo by Christian Lantry

Ford’s (and Tesla’s) electric-vehicle prices have lately been about as volatile as cryptocurrencies. For Tesla, it’s a matter of positioning its offerings as a once-niche market overflows with fresh competitors; in Ford’s case, some of the pricing adjustments have been in response to Tesla’s, while others are efforts to match sales volume with production capacity. For the Mustang Mach-E, however, it’s yet another reason: expired federal tax incentives.

Related: Which Electric Cars Are Still Eligible for the $7,500 Federal Tax Credit?

Automotive News reports that Mustang Mach-E sales fell off by half in January, when new qualifications for the incentives took effect. With the 2023 Mustang Mach-E no longer meeting the requirements for vehicle and battery assembly and the sourcing of critical battery minerals, buyers can no longer claim a tax credit for their purchase. Ford is reacting by lopping as much as $8,100 from the all-electric SUV’s sticker prices.

The precise amount of the price cut varies among trim levels, drivetrains and battery pack sizes. Ford’s base price on the 2023 Mustang Mach-E is down $3,100, to $41,695 (all prices include $1,800 destination charge); the $8,100 drop applies to the California Route 1 trim. Current pricing is below, with the price drop in parentheses.

  • Select RWD Standard Range: $41,695 ($3,100)
  • Select AWD Standard Range: $44,695 ($3,100)
  • Premium RWD Standard Range: $44,695 ($4,100)
  • Premium AWD Standard Range: $47,695 ($4,100)
  • California Route 1 AWD Extended Range: $50,695 ($8,100)
  • GT AWD Extended Range: $54,195 ($7,600)

Shop the 2023 Ford Mustang Mach-E near you

New
2023 Ford Mustang Mach-E Select
$42,935 MSRP $46,935
New
2023 Ford Mustang Mach-E Premium
$47,871 MSRP $51,990

$1,000 price drop

Making It Up

Seeing as the 2023 Mustang Mach-E only qualified for $3,750 (half of the maximum federal credit) before the new requirements took effect, the latest price cuts mean that in the worst case, the effective price paid by buyers only increases by $650, and buyers of the Premium, California Route 1 and GT trims could realize tremendous savings. It seems like a good time to buy a Mustang Mach-E — unless, of course, prices dip again in a few months.

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