As it turns out, “right-sizing” EV production and investments to meet buyer demand is an incredibly difficult thing to do for automakers. Ford has found that out the hard way over the past few years, as it first struggled to meet demand for the Mustang Mach-E and F-150 Lightning before adjusting its production numbers to account for flagging sales. Now, the Blue Oval is cutting prices on the Mach-E and is offering significant incentives for the Lightning, just a day after it slashed prices in Canada.
The Mustang Mach-E was the country’s second most popular electric SUV last year, but its price has fallen by thousands of dollars since its introduction. Ford rolled out a $42,995 starting price for the SUV after a short pause in taking orders early last year, and the recent cuts have dropped the Mach-E’s starting MSRP by up to $8,100 for some models.
Starting pricing for the 2023 Mustang Mach-E (the latest model available on ford.com) now lands at:
- 2023 Mustang Mach-E Select RWD: $39,895 (-$3,100)
- Select AWD: $42,895 (-$3,100)
- Premium RWD: $42,895 (-$4,100)
- Premium AWD: $45,895 (-$4,100)
- Premium RWD Extended Range: $45,985 (-$8,100)
- Premium AWD ER: $48,895 (-$8,100)
- California Rt 1 AWD: $48,895 (-$8,100)
- GT: $52,395 (-$7,600)
- GT Performance Edition: $57,395 (-$7,600)
While the Mach-E is currently ineligible for federal tax credits on purchases, buyers can still get the credit by leasing the SUV.
F-150 Lightning incentives
At the same time, Ford is offering significant credits for the F-150 Lightning, on top of the $7,500 federal tax credit some trims get.
Customers purchasing an F-150 Lightning are eligible for bonus cash:
- $7,500 off an XLT Extended Range
- $5,000 off the Lariat Standard and Extended Range
- $12,500 off Lightning Platinum
Lease customers are eligible for these incentives:
- $1,500 off XLT
- $5,000 off Lariat
- $7,500 off Platinum
It’s easy to single out Ford for difficulties selling and pricing EVs, but the entire market has been up and down over the last few years. Tesla cut Model 3 prices repeatedly before it recently introduced the updated car without discounts or tax credits. General Motors has also seen its fortunes rise and fall, leading it to announce the reintroduction of hybrids and plug-in hybrids to bridge the gap between gasoline-hungry buyers and the need to go electric.
