Ford Motor Co. has reduced prices on its Mustang Mach-E electric SUV by up to $8,100 following a significant drop in sales in January.
The price cuts affect various models, with the base 2023 version now priced at $39,895.
This move aims to adjust to market conditions and enhance sales growth.
The Mach-E lost eligibility for a $3,750 tax credit due to new U.S. Treasury Department requirements.
Meanwhile, Tesla’s Model Y, a competitor, starts at $42,990 before tax credits.
Ford and other traditional automakers are shifting focus towards higher-margin hybrid and gas-powered vehicles, with Ford planning to reduce production of its F-150 Lightning pickup truck.
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