Ford is raising the price of the 2023 Mustang Mach E just a few weeks after it did the same with another flagship electric car, the F-150 Lightning.
The automaker announced it is reopening demand banks for its popular electric SUV with an adjusted MSRP (manufacturer suggested retail price) that reflects “significant increases in material cost, continued pressure on key supply chains, and rapidly evolving market conditions” – the same reason it gave To raise the price of the F-150 Lightning.
Here’s a breakdown of the new pricing, with the 2022 model price in parentheses:
- Select RWD Standard Range: $46,895 ($43,895)
- Select eAWD Standard Band: $49,595
- California Route 1 eAWD extended range: $63,575 ($52,450)
- Premium RWD Standard Range: $54,975 ($48,775)
- eAWD Premium Standard Domain: $57,675
- GT Extended Range: $69,895 ($61,995)
Ford excluded destination and delivery fees, but those fees typically increased to as much as $1,200 per vehicle. So customers will pay at least $50,000 for the cheapest Mach-E.
The automaker is trying to improve the deal by offering Co-Pilot 360 advanced driver assistance technology as standard on all trim levels. There are two new colors: Carbon Gray and Steam Blue. Purchasers of select models can get hands-free driver assistance from Ford’s Blue Cruise for a free 90-day trial.
(If they decide they don’t want to, they will find themselves in the strange situation of owning a car with the hardware and software for hands-free driving but with a block of software that prevents it from being used.)
The Premium RWD model’s extended battery is also seeing a price hike of $8,600. But Ford also increased the additional range by 13 miles for an EPA-estimated total range of 290 miles.
If you thought the $7,500 federal tax credit might help offset these rate increases, think again. While the Mustang Mach-E is currently eligible for a tax credit, new requirements for at least 40 percent of its components — including the battery — are made in North America or by a US trading partner that take effect in 2024. Mustang Mach- E will likely not qualify under these rules.
Ford isn’t the only automaker to raise prices on its popular electric models. A recent analysis of millions of car models found that electric vehicle prices saw a year-on-year increase of 54.3 percent, while gas-powered vehicles rose only 10.1 percent.