We have yet to see a watershed electric car in the U.S., an EV that’s affordable and practical enough for a huge swath of Americans to make the jump away from the gas pump. Yes, most major automakers have electric vehicles for sale already or in the pipeline, but the story so far has been one of higher than expected prices thanks to the new (read: expensive) technology. And high sticker prices keep drivers away.
That’s why the latest news from Ford is so surprising. The automaker is set to start delivering its Mustang Mach-E, an electric SUV named after the iconic pony car, later this year, but in a welcome move Ford announced it’s slashing prices up to $3,000 on just about every trim.
“Exceptional value has always been a hallmark of the Mustang brand,” Ford said in a statement, as reported by Automotive News. “In addition to its great all-electric driving range and performance, we’re adjusting Mustang Mach-E pricing to remain fully competitive in a segment that is seeing dynamic price changes.”
Ah, that’s why Ford says it’s cutting prices, not necessarily because there hasn’t been high demand during preorders (a special First Edition model is already sold out), but because it wants the Mach-E to be “fully competitive.” After all, electric vehicle unveilings have been coming fast and furious lately, with buzzworthy models like the Volkswagen ID.4 now open for orders (and cheaper than the Mach-E) and the Hummer EV coming in October.
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So how much does the Mach-E cost now? According to Automotive News, the Premium trim gets a $3,000 discount, with the AWD now at $50,800 and the RWD at $48,100; the California Route 1 trim is down $2,000 to $50,900; and the base Select trim is cut $1,000, with the AWD at $46,695 and the RWD at $43,995. FYI: These prices do factor in the $1,100 shipping fee, but don’t take into account the $7,500 federal tax credit buyers can receive for buying an electric vehicle.
Oh, and if you are one of the lucky people who scored a First Edition preorder, you also get $1,000 off the price you thought you were going to pay. Discounts for everyone!
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