The electric vehicle race is not only about efficiency and speed, as shown by Ford’s announcement, which announced that it will lower the price of the Mustang Mach-E, in a measure similar to that recently announced by Tesla, in an attempt to win market.
The reductions range from $600 to $5,900 in dollars, compared to Tesla’s cuts that go as high as $13,000 on its Model Y.
Ford has let it be known that it is ramping up production of the Mach-E this year and said it will take advantage of optimized costs to lower prices overall.
According to the announcement, the price of the entry-level rear-wheel drive Mach-E will drop $900, from $46,895 to $45,995.
While the range-topping GT Extended will drop in price from $69,895 to $63,995, a discount of $5,900.
Ford explained that the price cuts are intended to make the Mach-E a more attractive and affordable option for customers who are switching to or already have a penchant for electric vehicles.
“We are not going to give ground to anyone,” said Marin Gjaja, Ford Model E Director of Customer Service. “We are responding to changes in the market.”
The statement is surely in reference to the price drop announced by Elon Musk’s company, which cut prices by approximately 20% in the United States for some versions of the Model Y SUV, one of its most popular models.
Although Tesla also lowered the price of the Model 3, a more affordable model, by 6%.
Analysts believe that the announcement by Ford and Tesla will push competitors that make electric vehicles to cut prices so as not to be left out in the competitive industry that is gaining more and more ground, although it is not expected to be an all-out war that will markedly affect prices. profit margins, as it is a growing industry.
Ford clarified that customers who have already ordered their Mach E and are awaiting delivery will automatically receive their respective discount and that the company will contact those with a sale date after January 1.
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