Ford Follows Tesla with BEV Price Cuts
Ford has joined the race to slash forecourt prices of BEVs slicing up to $5,900 off the sticker price of its Mustang Mach-E SUV.
The move comes in response to Tesla’s price cuts globally of up to 20% as the manufacturer tries to reignite sales of its BEVs and clear mounting stocks of unsold vehicles. It can also be seen as a pre-emptive strike against the mounting threat of cheaper BEVs being imported to several global markets and notably in Europe.
Reuters reports that Ford also said it was “significantly” raising Mach-E production. Ford sold 39,458 Mach-Es in the United States last year, up from 27,140 in 2021. The automaker is cutting prices by up to 8% on various versions of the Mach-E, as well as cutting the price of the extended range battery by about 19%. The lowest-price models are getting smaller $600 to $900 price cuts.
On Twitter, Ford chief executive Jim Farley said: “…scaling will shorten customer wait times. And with higher production, we’re reducing costs, which allows us to share these savings with customers”. The company also said existing Mustang Mach-E customers awaiting delivery of vehicles will automatically receive the price cut.
— Paul Myles is a seasoned automotive journalist based in Europe. Follow him on Twitter @Paulmyles_
