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Ford Mustang Mach-E prices slashed by thousands for 2023

If you’re looking to get your hands on a new electric vehicle, there’s some great news coming out of Dearborn. To meet customer demand, on Monday, Ford announced it’s increasing production of the popular and generally excellent Mustang Mach-E all-electric SUV, but that’s not all. The Blue Oval is also reducing the price of this vehicle, in some cases by thousands of dollars.

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The rear-wheel-drive base version of the Mach-E will be $900 more affordable this year, while the all-wheel-drive variant’s price has been cut by a modest $600. Stepping up the ladder, the California Route 1 eAWD Extended Range grade will be $5,580 cheaper than last year. The rear-drive Premium trim with the standard-range battery is $3,980 less expensive than before, while the same model with all-wheel drive has seen a price cut of $3,680. Not surprisingly, the high-performance GT model with the extended range battery offers the biggest savings: a reduction of $5,900. If you want a Mach-E the big battery pack it will cost you $7,000 in 2023, a reduction of $1,600 compared to last year. There have been no changes to the prices of the Nite Pony Appearance Package and GT Performance Package.

2022 Ford Mustang Mach E GT Performance Edition 17
The Mustang Mach-E is a compelling EV that’s about to get even more appealing. Photo credit: EV Pulse / Craig Cole

Zooming out and looking at the whole model range, the Mach-E now runs from $47,495 for an entry-level model to $65,495 for a GT with the extended-range battery. Those prices include destination fees, which should total $1,500 for the 2023 model year, though no government incentives have been factored in. Of course, if you’ve ordered a Mach-E and are still waiting to take delivery, Ford says you will automatically receive an adjusted price; if your vehicle-sale date is after Jan. 1, 2023, Ford will reach out to you.

2023 Ford Mustang Mach-E Pricing

Select RWD Standard Range

Updated MSRP: $47,495

Reduction: $900

Select eAWD Standard Range

Updated MSRP: $50,495

Reduction: $600

California Route 1 eAWD Extended Range

Updated MSRP: $59,495

Reduction: $5,580

Premium RWD Standard Range

Updated MSRP: $52,495

Reduction: $3,980

Premium eAWD Standard Range

Updated MSRP: $55,495

Reduction: $3,680

GT Extended Range

Updated MSRP: $65,495

Reduction: $5,900

Prices listed above include $1,500 in destination fees

How is the automaker able to increase production and reduce the price of this battery-powered utility vehicle? Well, thanks to the Ford+ Plan, the company claims its supply chain has matured, meaning it’s sourced all the batteries and raw materials needed to build the Mach-E as well as the F-150 Lightning and E-Transit in 2023, the automaker’s three all-electric models. Even though it debuted several years ago, Ford also wants the Mach-E to remain a compelling offering for customers in the market for an all-electric SUV, hence the price cuts, though Tesla’s recent reductions likely played a starring role in this decision.

2022 Ford Mustang Mach E GT Performance Edition 41
Demand for this all-electric SUV has been surprisingly strong. Photo credit: EV Pulse / Craig Cole

Even though it’s not built by Elon Musk, the Mach-E has surprising marketplace momentum. It was the third-best-selling EV in the U.S. last year, behind Tesla’s Model Y and Model 3 and just ahead of the Chevy Bolt EV and EUV siblings. This puts Ford’s electric offering ahead of superb vehicles like the Hyundai Ioniq 5, Kia EV6, Rivian R1T and even the company’s own F-150 Lightning.

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In a media release shared by the automaker, Marin Gjaja, chief customer officer of Ford Model e, the automaker’s division dedicated to producing electric vehicles, said, “We are not going to cede ground to anyone. 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.” He also noted that they will continue to build “thrilling and exciting electric vehicles” in the future, vehicle that push boundaries and make EVs accessible to more drivers.

Written by Craig Cole

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