Tesla is following this strategy, so Ford is also implementing it to remain competitive in the sales race. The car manufacturer based in Dearborn has provided numerous discounts in recent months to help the Mustang Mach-E keep up with the Tesla Model Y. This move makes the Mustang Mach-E eligible for the X-Plan, a discount program that offers special pricing on Ford models to employees of Ford Partner Companies & Friends, family members, and neighbors. However, the Ford Mustang Mach-E is not included in the list of vehicles that qualify for federal clean energy tax credits, which will likely result in a decrease in sales. To counteract this, Ford has reduced the price of its 2023 model year crossover, creating space for the upcoming 2024 models. Additionally, we previously reported on the accumulation of thousands of Mach-Es at dealerships.
For example, customers who choose a Mach-E with the entry-level Select trim from the available inventory will now pay $3,100 less than before. This means that the Mustang Mach-E Select RWD can be purchased for $39,895, or $42,895 if the all-wheel drive option is selected. The Premium Standard Range now has a discount of $4,100, while the GT is now $7,600 more affordable. The most significant price reduction is $8,100 for the Premium Extended Range and California Route 1 versions. As a result, the Premium Extended Range price has dropped from the usual $56,995 to $48,895.
To attract customers, Ford Credit is offering zero percent financing for 72 months and a $7,500 cash incentive that can be immediately applied to lower monthly payments.
We can anticipate a similar approach from Tesla for its Model Y, especially considering the upcoming updated version. Tesla needs to clear its inventory to make space for the refreshed crossover.
Ford has also lowered prices for the F-150 Lightning. Customers can take advantage of substantial discounts for all three available trims of the F-150 Lightning: Lariat, XLT, and Pro. These trims also qualify for the $7,500 federal tax credit. Ford has reduced the price of the XLT Extended Range by $7,500 and the Lariat Standard and Extended Range by $5,000. Additionally, the Platinum trim is now offered with a significant discount of $12,500.
These deals are only applicable to the 2023 F-150 Lightning model. The 2024 model year is currently not undergoing any price cuts.
In terms of sales, 2023 has been a record year for Ford’s electric models. F-150 Lightning sales have increased by 55 percent, and there has been a 3 percent rise in customers choosing the Mustang Mach-E.
According to the Source autoevolution.com