Tesla competition aside, there's another likely reason Ford is lowering it's electric vehicle prices.
A press release from Ford says that,"the updated pricing is part of Ford's plan to keep the SUV competitive in a rapidly changing market, while strengthening Ford's position." Increased production capacity will reduce customer wait times and streamline costs, the automaker relayed.
That rapidly changing market includes considerations for the upcoming IRA guidelines and regulations, though Ford officials have not come right out and said it.Contrary to Ford marketing, which calls the Mustang Mach-E an SUV, the Environmental Protection Agency, which is responsible for the roll out of the plan, has categorized the Mustang Mach-E as a car. TheFord Motor Company
This determination means that Mustang Mach-E and Lyriq models priced over $55,000 will not be eligible for federal incentives that are part of the IRA. "The [Mustang Mach-E] price cuts bring more variants under the threshold and, in turn, improve competitiveness net of Tesla's recent pricing actions, particularly on Model Y," Stewart Stropp, senior director of automotive retail and managing director of the Electric Vehicle Consideration Study at J.D. Power toldFord's new pricing has the Mustang Mach-E starting at $45,995, a $900 reduction.
The ability to predict the supply of parts and equipment to make the Mustang Mach-E, F-150 Lightning electric truck and E-Transit battery-electric van also factors into the price cuts. Ford says that it has,"secured the batteries and raw material to scale production of all these models."
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