Price War Intensifies as Ford Also Slashes EV Prices

Earlier this week Ford Motor Company announced that it was lowering costs for its Mustang Mach-E as well as boosting the sport utility vehicle’s production. This came weeks after Tesla lowered prices for its cars by a whopping 20% in reaction to declining demand globally.

Ford further indicated that orders that had already been placed by the customers and were awaiting delivery would be subjected to the revised costs. Ford’s financing department will offer low interest charges of as little as 5.34% on Mach E orders made on Jan. 30, 2023, through April 3, 2023.

The price reductions for the two lower-end Mach-E models equate to below $1,000 each. Other models with relatively long battery ranges and high-end extras saw their price tags slashed by $3,680 and $5,900, which represents a 6% to 9% reduction.

Ford CEO Jim Farley said in a tweet that the move is intended to increase the supply of electric vehicles. Therefore, the company is expanding production and decreasing prices throughout the Mach-E range. He added that with increased output, the company is cutting on expenses, allowing it to pass along savings to its clients.

Mustang Mach-E rear-wheel-drive models with normal batteries are currently available for $45,995, saving buyers $900, while the Mach-E GT high-performance with a longer battery capacity is currently available for $63,995, saving buyers $5,900.

Tesla’s most affordable vehicle is the Model 3, which is a bit small compared to Ford’s Mustang Mach-E, whose starting price is $43,990. The Tesla all-wheel-drive Model Y, an immediate rival to the electric Mustang, has a starting price of $53,490, while Ford’s Mustang Mach-E all-wheel-drive with identical battery capacity is currently listed for $53,995.

According to the IRA, electric vehicles costing less than $55,000 may be eligible for the federal tax subsidy of not more than $7,500, which became available on Jan. 1, 2023. Due to the pricing changes by Ford, many Mach E cars will consequently be eligible for the subsidy.

Ford’s Mach-E sales were less than 40,000 in 2022, accounting for a 45% increase from 2021, making the Mach-E one of the top three best-selling electric vehicles behind the Model Y and Model 3 from Tesla.

Because of the huge demand for BEVs over the past couple of years, Tesla and Ford, as well as other car manufacturers, have had to increase the costs of electric cars for most of that time. However, as a result of the central banks’ raising interest rates, the demand for vehicles and other expensive commodities has decreased, hence the price reduction.

As the price war deepens, startups such as Cenntro Electric Group Ltd. (NASDAQ: CENN) will have to find ways to compete in an industry that has the major players trying to out do each other in terms of delivering affordable vehicles.

About Green Car Stocks

Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to millions of social media followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.

To receive SMS text alerts from Green Car Stocks, text “Green” to 844-397-5787 (U.S. Mobile Phones Only)

For more information, please visit

Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published:

Green Car Stocks
Los Angeles, CA
415.949.5050 Office
[email protected]

Green Car Stocks is part of the InvestorBrandNetwork.


Select A Month

Contact us: (310) 299-1717